Bank of America Corp DE Purchases 138,661 Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Bank of America Corp DE lifted its stake in Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 236.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 197,226 shares of the company’s stock after acquiring an additional 138,661 shares during the period. Bank of America Corp DE owned approximately 0.23% of Terns Pharmaceuticals worth $1,093,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Rhumbline Advisers boosted its holdings in shares of Terns Pharmaceuticals by 16.0% in the fourth quarter. Rhumbline Advisers now owns 97,892 shares of the company’s stock worth $542,000 after acquiring an additional 13,479 shares during the period. LPL Financial LLC boosted its holdings in shares of Terns Pharmaceuticals by 397.2% in the fourth quarter. LPL Financial LLC now owns 252,325 shares of the company’s stock worth $1,398,000 after acquiring an additional 201,575 shares during the period. Norges Bank bought a new position in shares of Terns Pharmaceuticals in the fourth quarter worth $4,706,000. Vanguard Group Inc. boosted its holdings in shares of Terns Pharmaceuticals by 15.3% in the fourth 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 period. Finally, BNP Paribas Financial Markets bought a new position in shares of Terns Pharmaceuticals in the fourth quarter worth $1,242,000. 98.26% of the stock is owned by institutional investors.

Terns Pharmaceuticals Stock Performance

Shares of TERN stock opened at $3.70 on Friday. Terns Pharmaceuticals, Inc. has a 52-week low of $1.87 and a 52-week high of $11.40. The company has a market capitalization of $323.15 million, a PE ratio of -3.14 and a beta of -0.18. The business’s fifty day moving average is $2.85 and its 200 day moving average is $4.10.

Terns Pharmaceuticals (NASDAQ:TERN) last issued 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 forecast that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. BMO Capital Markets cut their price target on Terns Pharmaceuticals from $26.00 to $15.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. JMP Securities reaffirmed a “market outperform” rating and issued a $20.00 price target on shares of Terns Pharmaceuticals in a report on Monday, April 21st. Finally, William Blair reaffirmed a “market perform” rating on shares of Terns Pharmaceuticals in a report on Friday, March 21st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Terns Pharmaceuticals 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.