Altium Capital Management LLC Grows Stock Position in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Altium Capital Management LLC boosted its position in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) by 43.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 475,000 shares of the company's stock after buying an additional 145,000 shares during the period. Altium Capital Management LLC owned approximately 0.56% of Terns Pharmaceuticals worth $2,632,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of TERN. Vanguard Group Inc. raised its stake in Terns Pharmaceuticals by 15.3% during the fourth quarter. Vanguard Group Inc. now owns 3,869,582 shares of the company's stock worth $21,437,000 after acquiring an additional 512,768 shares in the last quarter. Candriam S.C.A. acquired a new position in Terns Pharmaceuticals during the 4th quarter worth approximately $11,933,000. Geode Capital Management LLC lifted its stake in Terns Pharmaceuticals by 25.6% in the 4th quarter. Geode Capital Management LLC now owns 1,516,478 shares of the company's stock valued at $8,403,000 after purchasing an additional 308,999 shares during the last quarter. Norges Bank acquired a new stake in Terns Pharmaceuticals in the fourth quarter valued at approximately $4,706,000. Finally, Marshall Wace LLP grew its stake in shares of Terns Pharmaceuticals by 666.8% during the fourth quarter. Marshall Wace LLP now owns 803,336 shares of the company's stock worth $4,450,000 after buying an additional 698,578 shares during the last quarter. 98.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TERN has been the subject of several recent research reports. William Blair reaffirmed a "market perform" rating on shares of Terns Pharmaceuticals in a research note on Friday, March 21st. JMP Securities restated a "market outperform" rating and issued a $20.00 price objective on shares of Terns Pharmaceuticals in a report on Monday. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $18.38.

Terns Pharmaceuticals Stock Performance

TERN traded up $0.14 during midday trading on Wednesday, reaching $2.94. The company had a trading volume of 460,164 shares, compared to its average volume of 1,518,073. The business has a 50-day moving average price of $3.09 and a two-hundred day moving average price of $4.99. Terns Pharmaceuticals, Inc. has a 12-month low of $1.87 and a 12-month high of $11.40. The stock has a market cap of $256.66 million, a PE ratio of -2.49 and a beta of -0.13.

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