Bleakley Financial Group LLC Takes Position in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Bleakley Financial Group LLC purchased a new stake in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) during the fourth quarter, Holdings Channel.com reports. The firm purchased 10,452 shares of the company’s stock, valued at approximately $68,000.

A number of other large investors have also made changes to their positions in TERN. Renaissance Technologies LLC acquired a new stake in shares of Terns Pharmaceuticals during the first quarter valued at approximately $201,000. Millennium Management LLC raised its holdings in shares of Terns Pharmaceuticals by 213.7% during the second quarter. Millennium Management LLC now owns 277,688 shares of the company’s stock valued at $689,000 after acquiring an additional 189,178 shares during the period. Point72 Asset Management L.P. raised its holdings in shares of Terns Pharmaceuticals by 307.9% during the second quarter. Point72 Asset Management L.P. now owns 500,000 shares of the company’s stock valued at $1,240,000 after acquiring an additional 377,427 shares during the period. Dimensional Fund Advisors LP acquired a new stake in shares of Terns Pharmaceuticals during the third quarter valued at approximately $196,000. Finally, BlackRock Inc. raised its holdings in shares of Terns Pharmaceuticals by 91.5% during the third quarter. BlackRock Inc. now owns 286,293 shares of the company’s stock valued at $1,687,000 after acquiring an additional 136,765 shares during the period. Institutional investors and hedge funds own 98.26% of the company’s stock.

Terns Pharmaceuticals Price Performance

Shares of NASDAQ:TERN opened at $4.67 on Wednesday. Terns Pharmaceuticals, Inc. has a one year low of $3.26 and a one year high of $14.04. The company has a 50 day moving average of $6.74 and a 200-day moving average of $5.88. The stock has a market cap of $301.92 million, a price-to-earnings ratio of -3.68 and a beta of -0.63.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its quarterly earnings results on Thursday, March 14th. The company reported ($0.29) EPS for the quarter, hitting the consensus estimate of ($0.29). Equities research analysts anticipate that Terns Pharmaceuticals, Inc. will post -1.46 earnings per share for the current year.

Insider Activity at Terns Pharmaceuticals

In related news, major shareholder Vivo Opportunity, Llc sold 138,066 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $6.20, for a total transaction of $856,009.20. Following the completion of the transaction, the insider now owns 268,573 shares in the company, valued at $1,665,152.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 17.40% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. HC Wainwright reiterated a “neutral” rating and issued a $5.50 price objective on shares of Terns Pharmaceuticals in a research note on Friday, March 15th. BMO Capital Markets raised their target price on shares of Terns Pharmaceuticals from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, March 15th. UBS Group decreased their price target on shares of Terns Pharmaceuticals from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, March 27th. Finally, JMP Securities reduced their price objective on shares of Terns Pharmaceuticals from $17.00 to $15.00 and set an “outperform” rating for the company in a report on Monday, March 18th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $14.94.

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.