Candriam S.C.A. Buys New Position in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Candriam S.C.A. bought a new stake in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,153,969 shares of the company’s stock, valued at approximately $11,933,000. Candriam S.C.A. owned 2.54% of Terns Pharmaceuticals at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Telemark Asset Management LLC bought a new stake in Terns Pharmaceuticals during the third quarter valued at approximately $2,502,000. Charles Schwab Investment Management Inc. lifted its holdings in Terns Pharmaceuticals by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 154,714 shares of the company’s stock valued at $1,290,000 after purchasing an additional 1,994 shares in the last quarter. Quest Partners LLC purchased a new position in Terns Pharmaceuticals during the third quarter valued at approximately $872,000. Bellevue Group AG purchased a new position in Terns Pharmaceuticals during the third quarter valued at approximately $8,691,000. Finally, Parkman Healthcare Partners LLC lifted its holdings 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 in the last quarter. 98.26% of the stock is currently owned by institutional investors.

Terns Pharmaceuticals Stock Performance

TERN stock opened at $3.49 on Friday. Terns Pharmaceuticals, Inc. has a one year low of $3.27 and a one year high of $11.40. The company’s fifty day moving average price is $4.51 and its 200-day moving average price is $6.41. The company has a market capitalization of $296.44 million, a PE ratio of -2.96 and a beta of -0.30.

Insider Transactions at Terns Pharmaceuticals

In related news, insider Emil Kuriakose sold 4,481 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $5.71, for a total transaction of $25,586.51. Following the sale, the insider now owns 54,269 shares of the company’s stock, valued at $309,875.99. This represents a 7.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark J. Vignola sold 9,059 shares of the business’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 transaction, the chief financial officer now owns 74,752 shares in the company, valued at $433,561.60. This trade represents a 10.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,669 shares of company stock valued at $211,040. 15.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TERN. William Blair began coverage on shares of Terns Pharmaceuticals in a report on Friday, February 28th. They set a “market perform” rating on the stock. HC Wainwright reaffirmed a “neutral” rating and set a $7.50 price target on shares of Terns Pharmaceuticals in a report on Wednesday, December 4th. Oppenheimer lifted their price target on shares of Terns Pharmaceuticals from $17.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $20.00 price target on shares of Terns Pharmaceuticals in a report on Wednesday, December 4th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Terns Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.30.

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.