Terns Pharmaceuticals, Inc. $TERN Shares Purchased by Parkman Healthcare Partners LLC

Key Points

• Parkman Healthcare Partners LLC increased its stake in Terns Pharmaceuticals by 15.8%, acquiring an additional 130,598 shares, bringing its total ownership to approximately $2.65 million.
• Institutional investors now hold 98.26% of Terns Pharmaceuticals' stock, indicating strong institutional interest in the company.
• Analysts have set Terns Pharmaceuticals' price target at an average of $15.61, with a consensus rating of "Moderate Buy" following recent evaluations.

Parkman Healthcare Partners LLC grew its holdings in Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) by 15.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 959,703 shares of the company's stock after acquiring an additional 130,598 shares during the period. Parkman Healthcare Partners LLC owned about 1.10% of Terns Pharmaceuticals worth $2,649,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of TERN. Dimensional Fund Advisors LP grew its stake in shares of Terns Pharmaceuticals by 107.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,302,932 shares of the company's stock worth $7,218,000 after acquiring an additional 673,570 shares in the last quarter. Hsbc Holdings PLC lifted its position in Terns Pharmaceuticals by 216.1% in the fourth quarter. Hsbc Holdings PLC now owns 35,898 shares of the company's stock valued at $195,000 after acquiring an additional 24,542 shares during the last quarter. Northern Trust Corp lifted its position in Terns Pharmaceuticals by 27.4% in the fourth quarter. Northern Trust Corp now owns 591,171 shares of the company's stock valued at $3,275,000 after acquiring an additional 127,296 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in Terns Pharmaceuticals in the fourth quarter valued at $1,242,000. Finally, Bank of America Corp DE lifted its position in Terns Pharmaceuticals by 236.8% in the fourth quarter. Bank of America Corp DE now owns 197,226 shares of the company's stock valued at $1,093,000 after acquiring an additional 138,661 shares during the last quarter. Institutional investors and hedge funds own 98.26% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. BMO Capital Markets reduced their price target on shares of Terns Pharmaceuticals from $26.00 to $15.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. HC Wainwright started coverage on shares of Terns Pharmaceuticals in a report on Thursday. They issued a "neutral" rating and a $7.44 target price for the company. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $15.61.

Insider Activity

In other news, CFO Andrew Gengos purchased 10,000 shares of the business's stock in a transaction that occurred on Friday, June 27th. The stock was purchased at an average cost of $3.93 per share, with a total value of $39,300.00. Following the completion of the acquisition, the chief financial officer directly owned 25,000 shares of the company's stock, valued at approximately $98,250. This trade represents a 66.67% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Amy L. Burroughs purchased 23,314 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The shares were purchased at an average cost of $3.87 per share, with a total value of $90,225.18. Following the completion of the acquisition, the chief executive officer directly owned 47,083 shares of the company's stock, valued at $182,211.21. This represents a 98.09% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 48,314 shares of company stock valued at $186,575 over the last three months. 1.50% of the stock is currently owned by corporate insiders.

Terns Pharmaceuticals Stock Performance

Shares of NASDAQ:TERN opened at $7.22 on Friday. The company has a 50-day simple moving average of $5.91 and a 200-day simple moving average of $4.14. Terns Pharmaceuticals, Inc. has a one year low of $1.87 and a one year high of $11.40. The stock has a market capitalization of $631.82 million, a price-to-earnings ratio of -6.94 and a beta of -0.04.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.02. As a group, research analysts forecast that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current fiscal year.

Terns Pharmaceuticals Profile

Terns Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops small-molecule product candidates for the treatment of oncology, metabolic dysfunction-associated steatohepatitis (MASH), and obesity. The company develops TERN-701, an allosteric BCR-ABL tyrosine kinase inhibitor (TKI) that is in phase 1 clinical trial for chronic myeloid leukemia (CML), a form of cancer that starts in bone marrow.

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