Alliancebernstein L.P. Has $2.01 Million Position in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Alliancebernstein L.P. lifted its position in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 48.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 362,359 shares of the company’s stock after purchasing an additional 117,783 shares during the period. Alliancebernstein L.P. owned 0.43% of Terns Pharmaceuticals worth $2,007,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Savant Capital LLC acquired a new position in Terns Pharmaceuticals during the 4th quarter worth approximately $89,000. China Universal Asset Management Co. Ltd. grew its holdings in Terns Pharmaceuticals by 33.1% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 18,010 shares of the company’s stock worth $100,000 after acquiring an additional 4,475 shares during the period. Stoneridge Investment Partners LLC bought a new stake in Terns Pharmaceuticals in the fourth quarter worth approximately $114,000. Orion Portfolio Solutions LLC acquired a new stake in Terns Pharmaceuticals in the fourth quarter worth $123,000. Finally, XTX Topco Ltd acquired a new position in shares of Terns Pharmaceuticals during the third quarter worth approximately $148,000. 98.26% of the stock is currently owned by institutional investors.

Terns Pharmaceuticals Price Performance

Shares of TERN opened at $2.24 on Thursday. Terns Pharmaceuticals, Inc. has a 1 year low of $1.87 and a 1 year high of $11.40. The stock’s fifty day moving average price is $3.23 and its two-hundred day moving average price is $5.17. The firm has a market cap of $195.55 million, a PE ratio of -1.90 and a beta of -0.13.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its earnings results on Thursday, March 20th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.06. Sell-side analysts anticipate that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, William Blair reissued a “market perform” rating on shares of Terns Pharmaceuticals in a research report on Friday, March 21st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $18.38.

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.