Crestline Management LP Invests $369,000 in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Crestline Management LP acquired a new stake in Terns Pharmaceuticals, Inc. (NASDAQ:TERN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 66,599 shares of the company’s stock, valued at approximately $369,000. Crestline Management LP owned about 0.08% of Terns Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in TERN. Bank of America Corp DE raised its holdings in Terns Pharmaceuticals by 236.8% during the fourth quarter. Bank of America Corp DE now owns 197,226 shares of the company’s stock worth $1,093,000 after purchasing an additional 138,661 shares in the last quarter. Bellevue Group AG raised its stake in Terns Pharmaceuticals by 1.9% during the 4th quarter. Bellevue Group AG now owns 1,061,753 shares of the company’s stock worth $5,882,000 after acquiring an additional 19,618 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in Terns Pharmaceuticals in the fourth quarter valued at $1,242,000. Acorn Capital Advisors LLC acquired a new position in Terns Pharmaceuticals in the fourth quarter valued at $10,921,000. Finally, Boxer Capital Management LLC purchased a new position in shares of Terns Pharmaceuticals during the fourth quarter worth about $4,166,000. Hedge funds and other institutional investors own 98.26% of the company’s stock.

Terns Pharmaceuticals Trading Up 1.3 %

Terns Pharmaceuticals stock opened at $3.04 on Friday. The stock has a 50 day moving average of $2.90 and a two-hundred day moving average of $4.59. Terns Pharmaceuticals, Inc. has a twelve month low of $1.87 and a twelve month high of $11.40. The stock has a market capitalization of $265.50 million, a price-to-earnings ratio of -2.58 and a beta of -0.16.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.03. Equities analysts predict that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on TERN shares. JMP Securities reissued a “market outperform” rating and issued a $20.00 target price on shares of Terns Pharmaceuticals in a report on Monday, April 21st. William Blair reiterated a “market perform” rating on shares of Terns Pharmaceuticals in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $18.38.

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.