Thrive Wealth Management LLC Takes $29,000 Position in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Thrive Wealth Management LLC acquired a new stake in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 10,500 shares of the company’s stock, valued at approximately $29,000.

Several other institutional investors also recently made changes to their positions in TERN. Landscape Capital Management L.L.C. purchased a new stake in shares of Terns Pharmaceuticals during the 4th quarter valued at $73,000. Townsquare Capital LLC purchased a new stake in shares of Terns Pharmaceuticals during the 4th quarter valued at $76,000. Oxford Asset Management LLP purchased a new stake in shares of Terns Pharmaceuticals during the 4th quarter valued at $86,000. Savant Capital LLC purchased a new stake in shares of Terns Pharmaceuticals during the 4th quarter valued at $89,000. Finally, Velan Capital Investment Management LP purchased a new stake in shares of Terns Pharmaceuticals during the 4th quarter valued at $94,000. 98.26% of the stock is owned by hedge funds and other institutional investors.

Terns Pharmaceuticals Trading Up 0.9%

Shares of Terns Pharmaceuticals stock opened at $3.54 on Friday. The company has a fifty day moving average price of $2.82 and a 200 day moving average price of $4.12. Terns Pharmaceuticals, Inc. has a twelve month low of $1.87 and a twelve month high of $11.40. The stock has a market cap of $309.17 million, a price-to-earnings ratio of -3.00 and a beta of -0.18.

Terns Pharmaceuticals (NASDAQ:TERN) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.03. Analysts forecast that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on TERN shares. JMP Securities reissued a “market outperform” rating and set a $20.00 price objective on shares of Terns Pharmaceuticals in a research note on Monday, April 21st. William Blair reaffirmed a “market perform” rating on shares of Terns Pharmaceuticals in a research report on Friday, March 21st. Finally, BMO Capital Markets decreased their price target on shares of Terns Pharmaceuticals from $26.00 to $15.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.63.

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.