Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Stake Lifted by Parkman Healthcare Partners LLC

Parkman Healthcare Partners LLC increased its stake in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) by 51.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 829,105 shares of the company's stock after buying an additional 283,354 shares during the quarter. Parkman Healthcare Partners LLC owned about 0.98% of Terns Pharmaceuticals worth $4,593,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TERN. Candriam S.C.A. purchased a new position in shares of Terns Pharmaceuticals during the fourth quarter worth about $11,933,000. Acorn Capital Advisors LLC acquired a new stake in Terns Pharmaceuticals in the fourth quarter valued at about $10,921,000. Schonfeld Strategic Advisors LLC lifted its position in Terns Pharmaceuticals by 44.4% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 4,751,506 shares of the company's stock valued at $26,323,000 after purchasing an additional 1,461,680 shares during the period. Norges Bank acquired a new stake in Terns Pharmaceuticals in the fourth quarter valued at about $4,706,000. Finally, Boxer Capital Management LLC acquired a new stake in Terns Pharmaceuticals in the fourth quarter valued at about $4,166,000. Hedge funds and other institutional investors own 98.26% of the company's stock.

Terns Pharmaceuticals Stock Performance

Terns Pharmaceuticals stock traded up $0.19 during trading on Monday, reaching $3.07. 496,032 shares of the company's stock were exchanged, compared to its average volume of 1,531,310. The company's 50-day moving average is $2.84 and its two-hundred day moving average is $4.44. Terns Pharmaceuticals, Inc. has a 52-week low of $1.87 and a 52-week high of $11.40. The firm has a market cap of $267.69 million, a price-to-earnings ratio of -2.61 and a beta of -0.16.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.29) by $0.03. Analysts anticipate that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TERN. William Blair restated a "market perform" rating on shares of Terns Pharmaceuticals in a research report on Friday, March 21st. JMP Securities reiterated a "market outperform" rating and set a $20.00 price target on shares of Terns Pharmaceuticals in a research report on Monday, April 21st. Finally, 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. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $15.63.

Terns Pharmaceuticals Company 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.