Charles Schwab Investment Management Inc. Raises Stake in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Charles Schwab Investment Management Inc. boosted its stake in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 33.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 206,450 shares of the company’s stock after buying an additional 51,736 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.24% of Terns Pharmaceuticals worth $1,144,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Savant Capital LLC bought a new position in shares of Terns Pharmaceuticals during the 4th quarter valued at approximately $89,000. Intech Investment Management LLC purchased a new position in Terns Pharmaceuticals in the third quarter valued at approximately $145,000. XTX Topco Ltd bought a new position in Terns Pharmaceuticals during the third quarter valued at $148,000. China Universal Asset Management Co. Ltd. grew its holdings 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 purchasing an additional 4,475 shares during the period. Finally, Stoneridge Investment Partners LLC purchased a new stake in Terns Pharmaceuticals in the fourth quarter worth $114,000. Hedge funds and other institutional investors own 98.26% of the company’s stock.

Insider Activity

In other news, CFO Mark J. Vignola sold 9,059 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was 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 owns 74,752 shares of the company’s stock, valued at approximately $433,561.60. The trade was a 10.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jill M. Quigley sold 8,760 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $5.79, for a total transaction of $50,720.40. The disclosure for this sale can be found here. Insiders sold 36,669 shares of company stock worth $211,040 in the last three months. Corporate insiders own 15.10% of the company’s stock.

Terns Pharmaceuticals Stock Performance

Shares of TERN opened at $2.92 on Monday. The stock has a market capitalization of $254.91 million, a price-to-earnings ratio of -2.47 and a beta of -0.30. Terns Pharmaceuticals, Inc. has a 52-week low of $2.90 and a 52-week high of $11.40. The stock’s 50-day simple moving average is $3.90 and its 200 day simple moving average is $5.84.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its quarterly earnings data on Thursday, March 20th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.06. On average, research analysts forecast that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TERN has been the topic of a number of recent research reports. HC Wainwright reaffirmed a “neutral” rating and set a $7.50 price target on shares of Terns Pharmaceuticals in a research report on Wednesday, December 4th. Oppenheimer upped their price objective 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. JMP Securities reiterated a “market outperform” rating and issued a $20.00 target price on shares of Terns Pharmaceuticals in a research note on Wednesday, December 4th. Finally, William Blair restated a “market perform” rating on shares of Terns Pharmaceuticals in a research note on Friday, March 21st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $18.38.

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.