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

Parkman Healthcare Partners LLC increased its holdings in Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 39.8% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 545,751 shares of the company’s stock after buying an additional 155,481 shares during the period. Parkman Healthcare Partners LLC owned 0.64% of Terns Pharmaceuticals worth $4,552,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in TERN. Vanguard Group Inc. raised 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 valued at $14,425,000 after acquiring an additional 11,535 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Terns Pharmaceuticals by 12.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,694 shares of the company’s stock valued at $136,000 after purchasing an additional 2,261 shares in the last quarter. Walleye Trading LLC bought a new stake in Terns Pharmaceuticals during the first quarter valued at approximately $98,000. Simplicity Wealth LLC purchased a new position in Terns Pharmaceuticals in the 2nd quarter worth approximately $72,000. Finally, Salem Investment Counselors Inc. bought a new position in shares of Terns Pharmaceuticals in the 2nd quarter worth $2,531,000. Hedge funds and other institutional investors own 98.26% of the company’s stock.

Insider Transactions at Terns Pharmaceuticals

In related news, Director Hongbo Lu bought 476,190 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were bought at an average cost of $10.50 per share, with a total value of $4,999,995.00. Following the acquisition, the director now owns 476,190 shares in the company, valued at $4,999,995. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark J. Vignola sold 10,000 shares of Terns Pharmaceuticals stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $11.00, for a total value of $110,000.00. Following the transaction, the chief financial officer now directly owns 91,940 shares in the company, valued at approximately $1,011,340. The trade was a 9.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 15.10% of the company’s stock.

Terns Pharmaceuticals Price Performance

Shares of Terns Pharmaceuticals stock opened at $6.36 on Wednesday. Terns Pharmaceuticals, Inc. has a 1 year low of $4.32 and a 1 year high of $11.40. The company has a 50-day moving average of $7.10 and a 200 day moving average of $7.51. The firm has a market cap of $540.22 million, a price-to-earnings ratio of -5.39 and a beta of -0.36.

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

Analysts Set New Price Targets

Several research analysts recently issued reports on TERN shares. HC Wainwright upped their target price on shares of Terns Pharmaceuticals from $5.50 to $7.50 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. JMP Securities increased their price objective on Terns Pharmaceuticals from $15.00 to $20.00 and gave the company a “market outperform” rating in a research report on Tuesday, September 10th. Oppenheimer assumed coverage on Terns Pharmaceuticals in a research report on Thursday, October 31st. They issued an “outperform” rating and a $82.00 target price for the company. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $26.00 price target (up from $19.00) on shares of Terns Pharmaceuticals in a research report on Monday, September 16th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $30.70.

Terns Pharmaceuticals 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.