Bank of New York Mellon Corp Raises Position in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Bank of New York Mellon Corp grew its position in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 15.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 186,308 shares of the company’s stock after buying an additional 24,930 shares during the quarter. Bank of New York Mellon Corp owned 0.22% of Terns Pharmaceuticals worth $1,032,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in TERN. Bellevue Group AG purchased a new stake in shares of Terns Pharmaceuticals during the third quarter valued at $8,691,000. Walleye Capital LLC purchased a new stake in shares of Terns Pharmaceuticals during the 3rd quarter valued at about $1,550,000. Cinctive Capital Management LP purchased a new stake in shares of Terns Pharmaceuticals during the 3rd quarter valued at about $1,406,000. Parkman Healthcare Partners LLC grew its stake in shares of Terns Pharmaceuticals by 39.8% in the third quarter. Parkman Healthcare Partners LLC now owns 545,751 shares of the company’s stock worth $4,552,000 after acquiring an additional 155,481 shares during the period. Finally, Acuta Capital Partners LLC raised its holdings in shares of Terns Pharmaceuticals by 31.9% during the third quarter. Acuta Capital Partners LLC now owns 487,000 shares of the company’s stock valued at $4,062,000 after purchasing an additional 117,720 shares during the last quarter. Institutional investors own 98.26% of the company’s stock.

Insider Buying and Selling

In related news, Director Jill M. Quigley sold 8,760 shares of Terns Pharmaceuticals stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $5.79, for a total value of $50,720.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark J. Vignola sold 8,129 shares of Terns Pharmaceuticals stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $5.72, for a total transaction of $46,497.88. Following the sale, the chief financial officer now owns 83,811 shares of the company’s stock, valued at $479,398.92. The trade was a 8.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,669 shares of company stock valued at $211,040 over the last 90 days. Corporate insiders own 15.10% of the company’s stock.

Terns Pharmaceuticals Stock Performance

TERN opened at $3.51 on Tuesday. The stock’s 50 day moving average price is $4.01 and its 200-day moving average price is $6.02. Terns Pharmaceuticals, Inc. has a one year low of $3.08 and a one year high of $11.40. The stock has a market cap of $298.14 million, a price-to-earnings ratio of -2.97 and a beta of -0.30.

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

Analyst Ratings Changes

A number of research analysts have weighed in on TERN shares. 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. William Blair reiterated a “market perform” rating on shares of Terns Pharmaceuticals in a research note on Friday. HC Wainwright restated a “neutral” rating and set a $7.50 target price on shares of Terns Pharmaceuticals in a research report on Wednesday, December 4th. Finally, Oppenheimer increased their price target on shares of Terns Pharmaceuticals from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.30.

Terns Pharmaceuticals Company 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.