Charles Schwab Investment Management Inc. Purchases 51,736 Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Charles Schwab Investment Management Inc. raised its holdings in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 33.4% during the fourth quarter, Holdings Channel reports. The fund owned 206,450 shares of the company’s stock after buying an additional 51,736 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Terns Pharmaceuticals were worth $1,144,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Savant Capital LLC bought a new stake in shares of Terns Pharmaceuticals in the 4th quarter worth approximately $89,000. Intech Investment Management LLC purchased a new position in Terns Pharmaceuticals in the 3rd quarter worth $145,000. XTX Topco Ltd bought a new stake in Terns Pharmaceuticals in the third quarter worth $148,000. China Universal Asset Management Co. Ltd. boosted its position in 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 valued at $100,000 after buying an additional 4,475 shares during the period. Finally, Stoneridge Investment Partners LLC bought a new position in shares of Terns Pharmaceuticals during the fourth quarter valued at about $114,000. 98.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Mark J. Vignola sold 9,059 shares of Terns Pharmaceuticals stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $5.80, for a total transaction of $52,542.20. Following the completion of the transaction, the chief financial officer now directly owns 74,752 shares of the company’s stock, valued at $433,561.60. This trade represents a 10.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Emil Kuriakose sold 4,481 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $5.71, for a total transaction of $25,586.51. Following the sale, the insider now directly owns 54,269 shares in the company, valued at $309,875.99. The trade was a 7.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,669 shares of company stock valued at $211,040 over the last ninety days. Company insiders own 15.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TERN. Oppenheimer boosted their target price on Terns Pharmaceuticals from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. JMP Securities reaffirmed a “market outperform” rating and issued a $20.00 price target on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. HC Wainwright reissued a “neutral” rating and set a $7.50 price objective on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. Finally, William Blair reaffirmed a “market perform” rating on shares of Terns Pharmaceuticals in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Terns Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $18.38.

Terns Pharmaceuticals Price Performance

NASDAQ TERN opened at $2.92 on Monday. Terns Pharmaceuticals, Inc. has a 1 year low of $2.90 and a 1 year high of $11.40. The stock has a market capitalization of $254.91 million, a PE ratio of -2.47 and a beta of -0.30. The business’s 50-day moving average is $3.90 and its 200 day moving average is $5.84.

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