Parkman Healthcare Partners LLC Grows Stake in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Parkman Healthcare Partners LLC raised its stake in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 39.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 545,751 shares of the company’s stock after purchasing an additional 155,481 shares during the period. Parkman Healthcare Partners LLC’s holdings in Terns Pharmaceuticals were worth $4,552,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Point72 Asset Management L.P. lifted its position 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 worth $18,321,000 after buying an additional 469,176 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Terns Pharmaceuticals by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 2,199,006 shares of the company’s stock worth $14,425,000 after acquiring an additional 11,535 shares during the last quarter. Bellevue Group AG bought a new stake in shares of Terns Pharmaceuticals in the 3rd quarter worth about $8,691,000. Acuta Capital Partners LLC boosted its stake in shares of Terns Pharmaceuticals by 31.9% during the 3rd quarter. Acuta Capital Partners LLC now owns 487,000 shares of the company’s stock worth $4,062,000 after purchasing an additional 117,720 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Terns Pharmaceuticals by 9.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 371,892 shares of the company’s stock valued at $2,534,000 after purchasing an additional 31,875 shares during the last quarter. 98.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on TERN shares. HC Wainwright increased their price target on Terns Pharmaceuticals from $5.50 to $7.50 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. JMP Securities boosted their target price on shares of Terns Pharmaceuticals from $15.00 to $20.00 and gave the company a “market outperform” rating in a research note on Tuesday, September 10th. BMO Capital Markets reaffirmed 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. Finally, Oppenheimer started coverage on shares of Terns Pharmaceuticals in a research report on Thursday, October 31st. They issued an “outperform” rating and a $82.00 price objective for the company. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.70.

Insider Activity

In other Terns Pharmaceuticals news, CFO Mark J. Vignola sold 10,000 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $11.00, for a total transaction of $110,000.00. Following the completion of the sale, the chief financial officer now directly owns 91,940 shares of the company’s stock, valued at approximately $1,011,340. This represents a 9.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jill M. Quigley sold 17,235 shares of Terns Pharmaceuticals stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $10.00, for a total transaction of $172,350.00. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $150,000. The trade was a 53.47 % decrease in their position. The disclosure for this sale can be found here. Insiders own 15.10% of the company’s stock.

Terns Pharmaceuticals Trading Up 3.4 %

TERN opened at $6.36 on Wednesday. The company has a market capitalization of $540.22 million, a price-to-earnings ratio of -5.39 and a beta of -0.36. Terns Pharmaceuticals, Inc. has a 12-month low of $4.32 and a 12-month high of $11.40. The business’s fifty day simple moving average is $7.10 and its 200-day simple moving average is $7.51.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its earnings results on Tuesday, November 12th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.05. On average, equities research analysts predict that Terns Pharmaceuticals, Inc. will post -1.22 EPS for the current 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.