Connor Clark & Lunn Investment Management Ltd. Purchases 21,845 Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Connor Clark & Lunn Investment Management Ltd. grew its position in Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 41.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 74,858 shares of the company’s stock after purchasing an additional 21,845 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Terns Pharmaceuticals were worth $415,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TERN. Point72 Asset Management L.P. boosted its position in shares of Terns Pharmaceuticals by 0.6% during the third quarter. Point72 Asset Management L.P. now owns 2,707,515 shares of the company’s stock valued at $22,581,000 after buying an additional 17,139 shares during the last quarter. Candriam S.C.A. purchased a new stake in shares of Terns Pharmaceuticals during the 4th quarter valued at about $11,933,000. Geode Capital Management LLC grew its stake in shares of Terns Pharmaceuticals by 7.6% in the third quarter. Geode Capital Management LLC now owns 1,207,479 shares of the company’s stock worth $10,072,000 after acquiring an additional 85,617 shares during the period. Bellevue Group AG purchased a new position in shares of Terns Pharmaceuticals during the third quarter valued at approximately $8,691,000. Finally, Parkman Healthcare Partners LLC lifted its position in Terns Pharmaceuticals by 39.8% during the third quarter. Parkman Healthcare Partners LLC now owns 545,751 shares of the company’s stock valued at $4,552,000 after purchasing an additional 155,481 shares during the period. Institutional investors own 98.26% of the company’s stock.

Wall Street Analysts Forecast Growth

TERN has been the subject of a number of research analyst reports. William Blair reaffirmed a “market perform” rating on shares of Terns Pharmaceuticals in a research report on Friday. HC Wainwright reaffirmed a “neutral” rating and issued a $7.50 price objective on shares of Terns Pharmaceuticals in a report on Wednesday, December 4th. JMP Securities reissued a “market outperform” rating and issued a $20.00 target price on shares of Terns Pharmaceuticals in a report on Wednesday, December 4th. Finally, Oppenheimer boosted their price target on Terns Pharmaceuticals from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $18.30.

Insiders Place Their Bets

In other news, Director Jill M. Quigley sold 8,760 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $5.79, for a total value of $50,720.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark J. Vignola sold 9,059 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $5.80, for a total transaction of $52,542.20. Following the sale, the chief financial officer now owns 74,752 shares in the company, valued at $433,561.60. The trade was a 10.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,669 shares of company stock worth $211,040. Company insiders own 15.10% of the company’s stock.

Terns Pharmaceuticals Price Performance

NASDAQ:TERN opened at $3.35 on Monday. Terns Pharmaceuticals, Inc. has a one year low of $3.08 and a one year high of $11.40. The business has a fifty day moving average price of $4.04 and a 200-day moving average price of $6.05. The firm has a market capitalization of $284.55 million, a price-to-earnings ratio of -2.84 and a beta of -0.30.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its quarterly earnings results on Thursday, March 20th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.06. On average, equities research analysts expect that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share 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.