Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Shares Acquired by Parkman Healthcare Partners LLC

Parkman Healthcare Partners LLC raised its position in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) by 39.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 545,751 shares of the company's stock after purchasing an additional 155,481 shares during the quarter. Parkman Healthcare Partners LLC owned 0.64% of Terns Pharmaceuticals worth $4,552,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its position in Terns Pharmaceuticals by 56.8% in the second quarter. Bank of New York Mellon Corp now owns 176,673 shares of the company's stock valued at $1,203,000 after buying an additional 64,018 shares during the last quarter. Telemark Asset Management LLC purchased a new stake in Terns Pharmaceuticals in the third quarter valued at $2,502,000. Point72 Asset Management L.P. boosted its holdings in Terns Pharmaceuticals by 21.1% in the second quarter. Point72 Asset Management L.P. now owns 2,690,376 shares of the company's stock valued at $18,321,000 after purchasing an additional 469,176 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Terns Pharmaceuticals in the third quarter worth about $872,000. Finally, Vanguard Group Inc. grew its stake in shares of Terns Pharmaceuticals by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 2,199,006 shares of the company's stock worth $14,425,000 after purchasing an additional 11,535 shares during the period. Hedge funds and other institutional investors own 98.26% of the company's stock.

Insider Activity at Terns Pharmaceuticals

In other Terns Pharmaceuticals news, CFO Mark J. Vignola sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $11.00, for a total transaction of $110,000.00. Following the sale, the chief financial officer now owns 91,940 shares of the company's stock, valued at approximately $1,011,340. This trade represents a 9.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jill M. Quigley sold 17,235 shares of Terns Pharmaceuticals stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $10.00, for a total value of $172,350.00. Following the sale, the director now owns 15,000 shares in the company, valued at $150,000. This trade represents a 53.47 % decrease in their position. The disclosure for this sale can be found here. 15.10% of the stock is currently owned by corporate insiders.

Terns Pharmaceuticals Trading Up 11.3 %

TERN traded up $0.72 during mid-day trading on Wednesday, hitting $7.08. 4,719,527 shares of the stock were exchanged, compared to its average volume of 1,314,913. The firm's fifty day moving average is $7.10 and its two-hundred day moving average is $7.51. Terns Pharmaceuticals, Inc. has a 1-year low of $4.32 and a 1-year high of $11.40. The company has a market cap of $601.38 million, a PE ratio of -6.11 and a beta of -0.36.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.33) by $0.05. As a group, research analysts anticipate that Terns Pharmaceuticals, Inc. will post -1.22 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on TERN. JMP Securities reiterated a "market outperform" rating and issued a $20.00 price objective on shares of Terns Pharmaceuticals in a research report on Wednesday. BMO Capital Markets reissued an "outperform" rating and issued a $26.00 price target (up previously from $19.00) on shares of Terns Pharmaceuticals in a research note on Monday, September 16th. Oppenheimer lifted their price target on shares of Terns Pharmaceuticals from $17.00 to $20.00 and gave the company an "outperform" rating in a research note on Wednesday. Finally, HC Wainwright reiterated a "neutral" rating and issued a $7.50 target price on shares of Terns Pharmaceuticals in a research report on Wednesday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Terns Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.30.

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.