Geode Capital Management LLC Grows Stake in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Geode Capital Management LLC raised its holdings in Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 7.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,207,479 shares of the company’s stock after buying an additional 85,617 shares during the quarter. Geode Capital Management LLC owned about 1.42% of Terns Pharmaceuticals worth $10,072,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in TERN. Bank of New York Mellon Corp boosted its holdings in Terns Pharmaceuticals by 56.8% in the second quarter. Bank of New York Mellon Corp now owns 176,673 shares of the company’s stock valued at $1,203,000 after acquiring an additional 64,018 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Terns Pharmaceuticals by 50.3% during the 2nd quarter. Rhumbline Advisers now owns 88,641 shares of the company’s stock valued at $604,000 after purchasing an additional 29,659 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Terns Pharmaceuticals by 17.7% during the 2nd quarter. American Century Companies Inc. now owns 64,119 shares of the company’s stock valued at $437,000 after purchasing an additional 9,635 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Terns Pharmaceuticals by 9.4% during the second quarter. Dimensional Fund Advisors LP now owns 371,892 shares of the company’s stock valued at $2,534,000 after buying an additional 31,875 shares during the period. Finally, Renaissance Technologies LLC bought a new position in Terns Pharmaceuticals in the second quarter worth about $596,000. 98.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Terns Pharmaceuticals

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 shares were acquired at an average cost of $7.15 per share, with a total value of $110,467.50. Following the transaction, the chief executive officer now owns 19,099 shares of the company’s stock, valued at $136,557.85. The trade was a 423.40 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 15.10% of the stock is currently owned by insiders.

Terns Pharmaceuticals Stock Up 0.2 %

Terns Pharmaceuticals stock opened at $5.54 on Thursday. Terns Pharmaceuticals, Inc. has a twelve month low of $4.32 and a twelve month high of $11.40. The company has a market capitalization of $470.56 million, a P/E ratio of -4.69 and a beta of -0.36. The stock’s 50 day moving average is $6.43 and its 200 day moving average is $7.46.

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

Wall Street Analysts Forecast Growth

TERN has been the topic of several research reports. HC Wainwright reaffirmed a “neutral” rating and set a $7.50 price objective on shares of Terns Pharmaceuticals in a research report on Wednesday, December 4th. JMP Securities restated a “market outperform” rating and set a $20.00 price target on shares of Terns Pharmaceuticals in a research report on Wednesday, December 4th. Oppenheimer increased their price objective on Terns Pharmaceuticals from $17.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, BMO Capital Markets restated an “outperform” rating and set a $26.00 target price (up previously from $19.00) on shares of Terns Pharmaceuticals in a report on Monday, September 16th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Terns Pharmaceuticals 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.