Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Stock Holdings Boosted by Parkman Healthcare Partners LLC

Parkman Healthcare Partners LLC lifted its position in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 51.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 829,105 shares of the company’s stock after acquiring an additional 283,354 shares during the period. Parkman Healthcare Partners LLC’s holdings in Terns Pharmaceuticals were worth $4,593,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of TERN. SG Americas Securities LLC grew its position in shares of Terns Pharmaceuticals by 40.0% during the fourth quarter. SG Americas Securities LLC now owns 33,333 shares of the company’s stock worth $185,000 after acquiring an additional 9,523 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in shares of Terns Pharmaceuticals by 34.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 142,919 shares of the company’s stock valued at $792,000 after acquiring an additional 36,363 shares during the period. China Universal Asset Management Co. Ltd. raised its holdings in Terns Pharmaceuticals by 33.1% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 18,010 shares of the company’s stock worth $100,000 after purchasing an additional 4,475 shares in the last quarter. E. Ohman J or Asset Management AB lifted its position in Terns Pharmaceuticals by 30.1% in the fourth quarter. E. Ohman J or Asset Management AB now owns 80,378 shares of the company’s stock worth $445,000 after purchasing an additional 18,603 shares during the period. Finally, Bleakley Financial Group LLC boosted its stake in Terns Pharmaceuticals by 262.8% during the 4th quarter. Bleakley Financial Group LLC now owns 48,296 shares of the company’s stock valued at $268,000 after purchasing an additional 34,984 shares in the last quarter. Institutional investors own 98.26% of the company’s stock.

Terns Pharmaceuticals Price Performance

TERN stock opened at $2.90 on Wednesday. Terns Pharmaceuticals, Inc. has a 52-week low of $1.87 and a 52-week high of $11.40. The company’s 50 day simple moving average is $2.87 and its 200-day simple moving average is $4.54. The firm has a market capitalization of $253.28 million, a P/E ratio of -2.46 and a beta of -0.16.

Terns Pharmaceuticals (NASDAQ:TERN) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.03. Sell-side analysts predict that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on TERN shares. William Blair reiterated a “market perform” rating on shares of Terns Pharmaceuticals in a report on Friday, March 21st. BMO Capital Markets dropped their target price on shares of Terns Pharmaceuticals from $26.00 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, JMP Securities reiterated a “market outperform” rating and issued a $20.00 target price on shares of Terns Pharmaceuticals in a report on Monday, April 21st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Terns Pharmaceuticals presently has an average 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.