Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its stake in Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 1.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 154,714 shares of the company’s stock after acquiring an additional 1,994 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Terns Pharmaceuticals were worth $1,290,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Intech Investment Management LLC purchased a new stake in shares of Terns Pharmaceuticals in the third quarter valued at $145,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Terns Pharmaceuticals during the 3rd quarter worth about $442,000. LMR Partners LLP acquired a new position in Terns Pharmaceuticals in the 3rd quarter valued at about $167,000. Quest Partners LLC purchased a new position in Terns Pharmaceuticals in the 3rd quarter valued at about $872,000. Finally, Entropy Technologies LP purchased a new position in Terns Pharmaceuticals in the 3rd quarter valued at about $106,000. Hedge funds and other institutional investors own 98.26% of the company’s stock.

Terns Pharmaceuticals Stock Down 2.6 %

Shares of TERN opened at $6.80 on Wednesday. The firm has a market cap of $577.59 million, a price-to-earnings ratio of -5.76 and a beta of -0.36. The business’s 50 day moving average is $6.78 and its two-hundred day moving average is $7.55. Terns Pharmaceuticals, Inc. has a 52-week low of $4.32 and a 52-week high of $11.40.

Terns Pharmaceuticals (NASDAQ:TERN) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.05. On average, equities analysts expect that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. HC Wainwright reissued a “neutral” rating and issued a $7.50 price objective on shares of Terns Pharmaceuticals in a research report on Wednesday, December 4th. BMO Capital Markets restated an “outperform” rating and issued a $26.00 target price (up from $19.00) on shares of Terns Pharmaceuticals in a report on Monday, September 16th. Oppenheimer upped their price target on Terns Pharmaceuticals from $17.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, JMP Securities reissued a “market outperform” rating and set a $20.00 target price on shares of Terns Pharmaceuticals in a research report on Wednesday, December 4th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.30.

Insiders Place Their Bets

In other Terns Pharmaceuticals news, CEO Amy L. Burroughs acquired 15,450 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was acquired at an average price of $7.15 per share, with a total value of $110,467.50. Following the transaction, the chief executive officer now directly owns 19,099 shares in the company, valued at approximately $136,557.85. This represents a 423.40 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 15.10% of the stock is currently owned by company insiders.

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.