Victory Capital Management Inc. purchased a new stake in Terns Pharmaceuticals, Inc. (NASDAQ:TERN – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 73,930 shares of the company’s stock, valued at approximately $647,000. Victory Capital Management Inc. owned about 0.13% of Terns Pharmaceuticals at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Dark Forest Capital Management LP acquired a new position in Terns Pharmaceuticals in the first quarter valued at $46,000. UBS Group AG acquired a new position in Terns Pharmaceuticals in the first quarter valued at $67,000. Prelude Capital Management LLC acquired a new position in Terns Pharmaceuticals in the third quarter valued at $64,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Terns Pharmaceuticals in the first quarter valued at $142,000. Finally, Raymond James & Associates acquired a new position in Terns Pharmaceuticals in the fourth quarter valued at $127,000. 98.26% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts have commented on TERN shares. HC Wainwright dropped their price objective on shares of Terns Pharmaceuticals from $11.00 to $8.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 9th. Mizuho boosted their price target on shares of Terns Pharmaceuticals from $16.00 to $17.00 in a research note on Wednesday, August 9th. Roth Mkm reiterated a “buy” rating and set a $23.00 price target on shares of Terns Pharmaceuticals in a research note on Tuesday, August 8th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Terns Pharmaceuticals from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 9th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Terns Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.11.
Terns Pharmaceuticals Trading Down 8.0 %
TERN stock opened at $4.83 on Friday. The company has a market cap of $294.97 million, a P/E ratio of -4.07 and a beta of -0.94. Terns Pharmaceuticals, Inc. has a 52 week low of $4.38 and a 52 week high of $14.04. The company’s 50-day moving average price is $5.29 and its 200 day moving average price is $8.22.
Terns Pharmaceuticals (NASDAQ:TERN – Get Free Report) last released its quarterly earnings data on Tuesday, August 8th. The company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.07. On average, equities research analysts expect that Terns Pharmaceuticals, Inc. will post -1.18 earnings per share for the current year.
Terns Pharmaceuticals Company Profile
Terns Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops small-molecule single-agent and combination therapy candidates for the treatment of oncology, non-alcoholic steatohepatitis (NASH), and obesity. The company develops TERN-701, an allosteric BCR-ABL tyrosine kinase inhibitor (TKI) that is in clinical development for chronic myeloid leukemia (CML), a form of cancer that starts in bone marrow.
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