Northern Trust Corp Has $3.28 Million Stake in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Northern Trust Corp increased its holdings in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 27.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 591,171 shares of the company’s stock after purchasing an additional 127,296 shares during the quarter. Northern Trust Corp owned approximately 0.70% of Terns Pharmaceuticals worth $3,275,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in TERN. Candriam S.C.A. acquired a new position in Terns Pharmaceuticals during the fourth quarter worth $11,933,000. Norges Bank acquired a new position in Terns Pharmaceuticals during the fourth quarter worth $4,706,000. Marshall Wace LLP boosted its holdings in Terns Pharmaceuticals by 666.8% during the fourth quarter. Marshall Wace LLP now owns 803,336 shares of the company’s stock worth $4,450,000 after purchasing an additional 698,578 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Terns Pharmaceuticals by 107.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,302,932 shares of the company’s stock worth $7,218,000 after purchasing an additional 673,570 shares during the last quarter. Finally, Barclays PLC boosted its holdings in Terns Pharmaceuticals by 444.7% during the fourth quarter. Barclays PLC now owns 704,371 shares of the company’s stock worth $3,903,000 after purchasing an additional 575,069 shares during the last quarter. Institutional investors and hedge funds own 98.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TERN. JMP Securities reiterated a “market outperform” rating and issued a $20.00 price target on shares of Terns Pharmaceuticals in a research note on Monday, April 21st. BMO Capital Markets cut their price target on shares of Terns Pharmaceuticals from $26.00 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. Finally, William Blair reiterated a “market perform” rating on shares of Terns Pharmaceuticals in a research note on Friday, March 21st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $15.63.

Terns Pharmaceuticals Price Performance

Shares of TERN stock opened at $3.02 on Friday. The stock has a market cap of $263.76 million, a P/E ratio of -2.56 and a beta of -0.16. The company has a fifty day moving average price of $2.81 and a two-hundred day moving average price of $4.34. Terns Pharmaceuticals, Inc. has a one year low of $1.87 and a one year high of $11.40.

Terns Pharmaceuticals (NASDAQ:TERN) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.03. As a group, equities research analysts anticipate that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current fiscal year.

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.