BNP Paribas Financial Markets Acquires New Holdings in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

BNP Paribas Financial Markets purchased a new position in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 224,265 shares of the company’s stock, valued at approximately $1,242,000. BNP Paribas Financial Markets owned about 0.26% of Terns Pharmaceuticals as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Schonfeld Strategic Advisors LLC boosted its position in Terns Pharmaceuticals by 44.4% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 4,751,506 shares of the company’s stock worth $26,323,000 after acquiring an additional 1,461,680 shares during the last quarter. Vanguard Group Inc. boosted its position in Terns Pharmaceuticals by 15.3% during the 4th quarter. Vanguard Group Inc. now owns 3,869,582 shares of the company’s stock worth $21,437,000 after acquiring an additional 512,768 shares during the last quarter. Candriam S.C.A. acquired a new position in Terns Pharmaceuticals during the 4th quarter worth approximately $11,933,000. Acorn Capital Advisors LLC acquired a new position in Terns Pharmaceuticals during the 4th quarter worth approximately $10,921,000. Finally, Geode Capital Management LLC boosted its position in Terns Pharmaceuticals by 25.6% during the 4th quarter. Geode Capital Management LLC now owns 1,516,478 shares of the company’s stock worth $8,403,000 after acquiring an additional 308,999 shares during the last quarter. Institutional investors and hedge funds own 98.26% of the company’s stock.

Terns Pharmaceuticals Stock Up 9.4%

Shares of Terns Pharmaceuticals stock opened at $3.15 on Tuesday. Terns Pharmaceuticals, Inc. has a 12-month low of $1.87 and a 12-month high of $11.40. The stock has a market cap of $275.11 million, a P/E ratio of -2.67 and a beta of -0.16. The business’s 50 day moving average is $2.83 and its 200-day moving average is $4.41.

Terns Pharmaceuticals (NASDAQ:TERN) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.03. On average, sell-side analysts expect that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current year.

Analyst Ratings Changes

TERN has been the subject of a number of recent research reports. William Blair reaffirmed a “market perform” rating on shares of Terns Pharmaceuticals in a research report on Friday, March 21st. BMO Capital Markets reduced their price target on Terns Pharmaceuticals from $26.00 to $15.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. Finally, JMP Securities reiterated a “market outperform” rating and set a $20.00 price objective on shares of Terns Pharmaceuticals in a research note on Monday, April 21st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $15.63.

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.