849,389 Shares in Terns Pharmaceuticals, Inc. (NASDAQ:TERN) Bought by Norges Bank

Norges Bank bought a new position in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 849,389 shares of the company's stock, valued at approximately $4,706,000. Norges Bank owned about 1.00% of Terns Pharmaceuticals as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Savant Capital LLC purchased a new stake in shares of Terns Pharmaceuticals in the fourth quarter valued at about $89,000. China Universal Asset Management Co. Ltd. grew its position in 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 in the last quarter. Stoneridge Investment Partners LLC purchased a new stake in Terns Pharmaceuticals during the 4th quarter worth approximately $114,000. XTX Topco Ltd purchased a new stake in shares of Terns Pharmaceuticals during the third quarter worth $148,000. Finally, SG Americas Securities LLC increased its holdings in Terns Pharmaceuticals by 40.0% during the 4th quarter. SG Americas Securities LLC now owns 33,333 shares of the company's stock worth $185,000 after purchasing an additional 9,523 shares during the period. 98.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, William Blair reaffirmed 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 has a consensus rating of "Moderate Buy" and an average target price of $18.38.

Terns Pharmaceuticals Stock Down 0.2 %

Shares of TERN traded down $0.01 on Tuesday, reaching $2.31. The stock had a trading volume of 175,008 shares, compared to its average volume of 1,502,291. The firm has a 50-day moving average of $3.32 and a 200 day moving average of $5.21. The firm has a market capitalization of $201.22 million, a PE ratio of -1.95 and a beta of -0.13. Terns Pharmaceuticals, Inc. has a twelve month low of $1.87 and a twelve month high of $11.40.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.06. On average, sell-side analysts anticipate that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current fiscal year.

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.