Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Stock Position Raised by LPL Financial LLC

LPL Financial LLC raised its stake in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 397.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 252,325 shares of the company’s stock after buying an additional 201,575 shares during the period. LPL Financial LLC owned 0.30% of Terns Pharmaceuticals worth $1,398,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Terns Pharmaceuticals by 33.1% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 18,010 shares of the company’s stock worth $100,000 after buying an additional 4,475 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Terns Pharmaceuticals by 40.0% during the 4th quarter. SG Americas Securities LLC now owns 33,333 shares of the company’s stock worth $185,000 after buying an additional 9,523 shares during the period. Rhumbline Advisers grew its holdings in shares of Terns Pharmaceuticals by 16.0% in the 4th quarter. Rhumbline Advisers now owns 97,892 shares of the company’s stock worth $542,000 after purchasing an additional 13,479 shares during the last quarter. Savant Capital LLC acquired a new stake in shares of Terns Pharmaceuticals during the fourth quarter worth approximately $89,000. Finally, XTX Topco Ltd bought a new position in Terns Pharmaceuticals in the 3rd quarter valued at $148,000. Institutional investors and hedge funds own 98.26% of the company’s stock.

Terns Pharmaceuticals Price Performance

Shares of TERN stock opened at $2.41 on Friday. The stock has a 50-day moving average of $3.19 and a 200-day moving average of $5.13. The stock has a market cap of $209.95 million, a PE ratio of -2.04 and a beta of -0.13. Terns Pharmaceuticals, Inc. has a one year low of $1.87 and a one year high of $11.40.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its earnings results on Thursday, March 20th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.06. As a group, research analysts anticipate that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current year.

Analysts Set New Price Targets

Separately, William Blair reissued a “market perform” rating on shares of Terns Pharmaceuticals in a report on Friday, March 21st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Terns Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.38.

Terns Pharmaceuticals Company 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.