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

Charles Schwab Investment Management Inc. lifted its holdings in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 1.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 154,714 shares of the company’s stock after purchasing an additional 1,994 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.22% of Terns Pharmaceuticals worth $1,290,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Intech Investment Management LLC purchased a new position in shares of Terns Pharmaceuticals in the 3rd quarter valued at about $145,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Terns Pharmaceuticals during the third quarter worth approximately $442,000. LMR Partners LLP purchased a new stake in Terns Pharmaceuticals during the third quarter worth approximately $167,000. Quest Partners LLC acquired a new position in Terns Pharmaceuticals in the third quarter valued at approximately $872,000. Finally, Entropy Technologies LP purchased a new position in Terns Pharmaceuticals in the third quarter valued at approximately $106,000. 98.26% of the stock is owned by hedge funds and other institutional investors.

Terns Pharmaceuticals Stock Performance

Shares of Terns Pharmaceuticals stock opened at $6.80 on Wednesday. The company has a market capitalization of $577.59 million, a P/E ratio of -5.76 and a beta of -0.36. Terns Pharmaceuticals, Inc. has a 1 year low of $4.32 and a 1 year high of $11.40. The company’s fifty day moving average is $6.78 and its two-hundred day moving average is $7.55.

Terns Pharmaceuticals (NASDAQ:TERN) last announced its earnings results on Tuesday, November 12th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.05. As a group, equities analysts expect that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current year.

Insider Transactions at Terns Pharmaceuticals

In other news, CEO Amy L. Burroughs purchased 15,450 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were acquired at an average cost of $7.15 per share, for a total transaction of $110,467.50. Following the completion of the purchase, the chief executive officer now directly owns 19,099 shares in the company, valued at $136,557.85. The trade was a 423.40 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 15.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on TERN shares. JMP Securities restated a “market outperform” rating and issued a $20.00 target price on shares of Terns Pharmaceuticals in a report on Wednesday, December 4th. BMO Capital Markets restated an “outperform” rating and issued a $26.00 price objective (up previously from $19.00) on shares of Terns Pharmaceuticals in a research note on Monday, September 16th. HC Wainwright reiterated 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 boosted their target price on Terns Pharmaceuticals from $17.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Terns Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $18.30.

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.