LPL Financial LLC Buys 201,575 Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

LPL Financial LLC grew its stake in Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) by 397.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 252,325 shares of the company's stock after acquiring an additional 201,575 shares during the period. LPL Financial LLC owned 0.30% of Terns Pharmaceuticals worth $1,398,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. American Century Companies Inc. grew its position in shares of Terns Pharmaceuticals by 33.4% during the 4th quarter. American Century Companies Inc. now owns 113,225 shares of the company's stock worth $627,000 after buying an additional 28,330 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Terns Pharmaceuticals by 41.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 74,858 shares of the company's stock valued at $415,000 after purchasing an additional 21,845 shares during the period. HighTower Advisors LLC acquired a new position in Terns Pharmaceuticals during the fourth quarter valued at approximately $468,000. Candriam S.C.A. acquired a new position in Terns Pharmaceuticals during the fourth quarter valued at approximately $11,933,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Terns Pharmaceuticals by 33.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 206,450 shares of the company's stock valued at $1,144,000 after purchasing an additional 51,736 shares during the period. Institutional investors and hedge funds own 98.26% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TERN. William Blair restated a "market perform" rating on shares of Terns Pharmaceuticals in a report on Friday, March 21st. JMP Securities reaffirmed a "market outperform" rating and issued a $20.00 price objective on shares of Terns Pharmaceuticals in a research report on Monday. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $18.38.

Terns Pharmaceuticals Price Performance

Shares of TERN traded up $0.23 during midday trading on Wednesday, hitting $3.03. The stock had a trading volume of 125,166 shares, compared to its average volume of 1,516,725. The company has a 50 day simple moving average of $3.09 and a two-hundred day simple moving average of $4.99. Terns Pharmaceuticals, Inc. has a twelve month low of $1.87 and a twelve month high of $11.40. The firm has a market cap of $264.51 million, a price-to-earnings ratio of -2.57 and a beta of -0.13.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.06. Analysts forecast that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current fiscal year.

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.