Candriam S.C.A. Makes New Investment in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Candriam S.C.A. purchased a new stake in Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,153,969 shares of the company's stock, valued at approximately $11,933,000. Candriam S.C.A. owned 2.54% of Terns Pharmaceuticals as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Creative Planning grew its position in shares of Terns Pharmaceuticals by 27.2% in the 3rd quarter. Creative Planning now owns 25,310 shares of the company's stock valued at $211,000 after purchasing an additional 5,409 shares during the period. Entropy Technologies LP acquired a new position in shares of Terns Pharmaceuticals in the third quarter valued at approximately $106,000. Quest Partners LLC bought a new stake in shares of Terns Pharmaceuticals during the third quarter worth $872,000. LMR Partners LLP acquired a new stake in shares of Terns Pharmaceuticals during the third quarter worth $167,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Terns Pharmaceuticals in the 3rd quarter valued at $442,000. Institutional investors own 98.26% of the company's stock.

Terns Pharmaceuticals Price Performance

TERN stock traded up $0.12 during mid-day trading on Tuesday, reaching $3.48. The company had a trading volume of 1,463,821 shares, compared to its average volume of 1,388,558. The company has a market capitalization of $295.59 million, a price-to-earnings ratio of -2.95 and a beta of -0.30. Terns Pharmaceuticals, Inc. has a 52 week low of $3.24 and a 52 week high of $11.40. The stock has a 50 day simple moving average of $4.43 and a two-hundred day simple moving average of $6.33.

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Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. William Blair started coverage on Terns Pharmaceuticals in a research note on Friday, February 28th. They issued a "market perform" rating on the stock. HC Wainwright reissued a "neutral" rating and issued a $7.50 target price on shares of Terns Pharmaceuticals in a research report on Wednesday, December 4th. JMP Securities reaffirmed a "market outperform" rating and set a $20.00 price target on shares of Terns Pharmaceuticals in a research report on Wednesday, December 4th. Finally, Oppenheimer lifted their price objective on shares of Terns Pharmaceuticals from $17.00 to $20.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Terns Pharmaceuticals has a consensus rating of "Moderate Buy" and an average target price of $18.30.

Insider Transactions at Terns Pharmaceuticals

In other news, CFO Mark J. Vignola sold 9,059 shares of the business's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $5.80, for a total transaction of $52,542.20. Following the transaction, the chief financial officer now directly owns 74,752 shares in the company, valued at $433,561.60. The trade was a 10.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Emil Kuriakose sold 4,481 shares of the company's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $5.71, for a total transaction of $25,586.51. Following the completion of the sale, the insider now directly owns 54,269 shares in the company, valued at approximately $309,875.99. The trade was a 7.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,669 shares of company stock worth $211,040 in the last 90 days. Corporate insiders own 15.10% of the company's stock.

About Terns Pharmaceuticals

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.