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Parkman Healthcare Partners LLC Has $2.65 Million Holdings in Terns Pharmaceuticals, Inc. $TERN

Terns Pharmaceuticals logo with Medical background

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.
  • Five stocks we like better than Terns Pharmaceuticals.

Parkman Healthcare Partners LLC grew its stake in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) by 15.8% in the first quarter, according to its most recent filing with the SEC. The fund 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 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Terns Pharmaceuticals during the first quarter worth $1,366,000. Cubist Systematic Strategies LLC increased its stake in Terns Pharmaceuticals by 136.8% in the 1st quarter. Cubist Systematic Strategies LLC now owns 28,327 shares of the company's stock worth $78,000 after purchasing an additional 16,363 shares in the last quarter. Graham Capital Management L.P. raised its holdings in Terns Pharmaceuticals by 70.1% during the 1st quarter. Graham Capital Management L.P. now owns 226,295 shares of the company's stock worth $625,000 after buying an additional 93,296 shares during the period. Walleye Capital LLC lifted its stake in Terns Pharmaceuticals by 399.8% during the first quarter. Walleye Capital LLC now owns 594,190 shares of the company's stock valued at $1,640,000 after buying an additional 475,294 shares in the last quarter. Finally, EntryPoint Capital LLC boosted its holdings in shares of Terns Pharmaceuticals by 21.4% in the first quarter. EntryPoint Capital LLC now owns 73,293 shares of the company's stock worth $202,000 after buying an additional 12,905 shares during the period. 98.26% of the stock is currently owned by institutional investors and hedge funds.

Terns Pharmaceuticals Price Performance

TERN traded down $0.03 on Thursday, reaching $7.44. 1,210,187 shares of the company traded hands, compared to its average volume of 1,163,775. The company has a market cap of $651.07 million, a price-to-earnings ratio of -7.15 and a beta of -0.04. The stock's 50 day moving average price is $6.12 and its 200-day moving average price is $4.21. Terns Pharmaceuticals, Inc. has a 52-week low of $1.87 and a 52-week high of $11.00.

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

Insider Transactions at Terns Pharmaceuticals

In other Terns Pharmaceuticals news, CEO Amy L. Burroughs bought 23,314 shares of Terns Pharmaceuticals stock in a transaction on Wednesday, June 25th. The stock was purchased at an average cost of $3.87 per share, for a total transaction of $90,225.18. Following the completion of the purchase, the chief executive officer directly owned 47,083 shares of the company's stock, valued at $182,211.21. The trade was a 98.09% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Andrew Gengos bought 10,000 shares of the firm's stock in a transaction on Friday, June 27th. The stock was acquired at an average cost of $3.93 per share, with a total value of $39,300.00. Following the completion of the transaction, the chief financial officer directly owned 25,000 shares of the company's stock, valued at approximately $98,250. This represents a 66.67% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 48,314 shares of company stock valued at $186,575 over the last ninety days. Company insiders own 1.50% of the company's stock.

Analyst Ratings Changes

Separately, HC Wainwright initiated coverage on shares of Terns Pharmaceuticals in a research report on Thursday, September 4th. They issued a "neutral" rating and a $7.44 price target for the company. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $15.61.

Get Our Latest Report on Terns Pharmaceuticals

Terns Pharmaceuticals Profile

(Free Report)

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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Institutional Ownership by Quarter for Terns Pharmaceuticals (NASDAQ:TERN)

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