Barclays PLC Purchases 575,069 Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Barclays PLC grew its position in Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) by 444.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 704,371 shares of the company's stock after purchasing an additional 575,069 shares during the quarter. Barclays PLC owned approximately 0.83% of Terns Pharmaceuticals worth $3,903,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of TERN. Rhumbline Advisers boosted its position in Terns Pharmaceuticals by 16.0% during the fourth quarter. Rhumbline Advisers now owns 97,892 shares of the company's stock valued at $542,000 after acquiring an additional 13,479 shares during the last quarter. LPL Financial LLC boosted its position in shares of Terns Pharmaceuticals by 397.2% during the 4th quarter. LPL Financial LLC now owns 252,325 shares of the company's stock valued at $1,398,000 after purchasing an additional 201,575 shares in the last quarter. Norges Bank acquired a new stake in Terns Pharmaceuticals during the fourth quarter worth approximately $4,706,000. Geode Capital Management LLC lifted its stake in Terns Pharmaceuticals by 7.6% in the third quarter. Geode Capital Management LLC now owns 1,207,479 shares of the company's stock valued at $10,072,000 after buying an additional 85,617 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Terns Pharmaceuticals by 15.3% during the 4th quarter. Vanguard Group Inc. now owns 3,869,582 shares of the company's stock worth $21,437,000 after buying an additional 512,768 shares during the period. 98.26% of the stock is currently owned by institutional investors and hedge funds.

Terns Pharmaceuticals Stock Down 4.3 %

TERN stock opened at $2.92 on Monday. The stock's 50 day moving average is $3.02 and its 200-day moving average is $4.87. 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 $254.91 million, a PE ratio of -2.47 and a beta of -0.13.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last posted its quarterly earnings data 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. On average, equities research analysts anticipate that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TERN. William Blair reissued a "market perform" rating on shares of Terns Pharmaceuticals in a research note on Friday, March 21st. JMP Securities reaffirmed a "market outperform" rating and set a $20.00 target price on shares of Terns Pharmaceuticals in a research report on Monday, April 21st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price 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.

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