Geode Capital Management LLC Has $8.40 Million Holdings in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Geode Capital Management LLC boosted its holdings in Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 25.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,516,478 shares of the company’s stock after purchasing an additional 308,999 shares during the quarter. Geode Capital Management LLC owned 1.79% of Terns Pharmaceuticals worth $8,403,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Corebridge Financial Inc. raised its holdings in Terns Pharmaceuticals by 13.5% in the 4th quarter. Corebridge Financial Inc. now owns 34,951 shares of the company’s stock valued at $194,000 after acquiring an additional 4,169 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of Terns Pharmaceuticals by 33.1% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 18,010 shares of the company’s stock worth $100,000 after purchasing an additional 4,475 shares during the period. SG Americas Securities LLC raised its stake in Terns Pharmaceuticals by 40.0% in the fourth quarter. SG Americas Securities LLC now owns 33,333 shares of the company’s stock valued at $185,000 after purchasing an additional 9,523 shares in the last quarter. Rhumbline Advisers lifted its position in Terns Pharmaceuticals by 16.0% during the fourth quarter. Rhumbline Advisers now owns 97,892 shares of the company’s stock worth $542,000 after purchasing an additional 13,479 shares during the period. Finally, Savant Capital LLC acquired a new stake in Terns Pharmaceuticals during the fourth quarter worth about $89,000. Institutional investors own 98.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TERN. JMP Securities reaffirmed a “market outperform” rating and set a $20.00 price target on shares of Terns Pharmaceuticals in a report on Monday. William Blair restated a “market perform” rating on shares of Terns Pharmaceuticals in a research note on Friday, March 21st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.38.

Terns Pharmaceuticals Trading Up 2.9 %

TERN stock opened at $2.88 on Thursday. The stock has a market capitalization of $251.42 million, a P/E ratio of -2.44 and a beta of -0.13. The firm has a 50-day moving average price of $3.07 and a 200-day moving average price of $4.98. Terns Pharmaceuticals, Inc. has a 12 month low of $1.87 and a 12 month high of $11.40.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its earnings results 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, equities analysts predict that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current fiscal year.

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.