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

Alliancebernstein L.P. lifted its holdings in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) by 48.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 about 0.43% of Terns Pharmaceuticals worth $2,007,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of TERN. Savant Capital LLC bought a new stake in shares of Terns Pharmaceuticals during the 4th quarter valued at about $89,000. China Universal Asset Management Co. Ltd. lifted its stake in shares of Terns Pharmaceuticals by 33.1% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 18,010 shares of the company's stock valued at $100,000 after acquiring an additional 4,475 shares during the last quarter. Stoneridge Investment Partners LLC purchased a new stake in Terns Pharmaceuticals during the 4th quarter valued at about $114,000. Orion Portfolio Solutions LLC purchased a new position in Terns Pharmaceuticals in the 4th quarter worth approximately $123,000. Finally, XTX Topco Ltd purchased a new stake in shares of Terns Pharmaceuticals during the third quarter worth about $148,000. 98.26% of the stock is owned by institutional investors.

Terns Pharmaceuticals Trading Up 7.4 %

TERN traded up $0.17 during trading on Friday, hitting $2.41. The company's stock had a trading volume of 891,657 shares, compared to its average volume of 1,516,793. The business's fifty day simple moving average is $3.15 and its 200 day simple moving average is $5.09. Terns Pharmaceuticals, Inc. has a twelve month low of $1.87 and a twelve month high of $11.40. The firm has a market capitalization of $209.95 million, a price-to-earnings ratio of -2.04 and a beta of -0.13.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.30) by $0.06. As a group, equities research analysts forecast that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.