Vanguard Group Inc. Buys 512,768 Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Vanguard Group Inc. raised its stake in Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) by 15.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,869,582 shares of the company's stock after purchasing an additional 512,768 shares during the period. Vanguard Group Inc. owned 4.56% of Terns Pharmaceuticals worth $21,437,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Savant Capital LLC acquired a new position in Terns Pharmaceuticals in the 4th quarter valued at about $89,000. China Universal Asset Management Co. Ltd. grew 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 valued at $100,000 after purchasing an additional 4,475 shares during the last quarter. Stoneridge Investment Partners LLC bought a new position in shares of Terns Pharmaceuticals during the fourth quarter worth approximately $114,000. XTX Topco Ltd acquired a new stake in Terns Pharmaceuticals during the 3rd quarter worth approximately $148,000. Finally, SG Americas Securities LLC boosted its stake in Terns Pharmaceuticals by 40.0% in the 4th 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 during the period. 98.26% of the stock is owned by institutional investors.

Terns Pharmaceuticals Trading Up 7.4 %

NASDAQ TERN traded up $0.17 during midday trading on Friday, hitting $2.41. The company had a trading volume of 891,657 shares, compared to its average volume of 1,514,192. The firm has a 50-day moving average price of $3.15 and a 200-day moving average price of $5.09. The company has a market capitalization of $209.95 million, a PE ratio of -2.04 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 posted its quarterly earnings results on Thursday, March 20th. The company reported ($0.24) EPS for the quarter, beating analysts' consensus estimates of ($0.30) by $0.06. On average, equities analysts anticipate that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.