Woodline Partners LP Boosts Position in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Woodline Partners LP boosted its holdings in Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 3.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 311,612 shares of the company’s stock after buying an additional 10,388 shares during the period. Woodline Partners LP owned approximately 0.37% of Terns Pharmaceuticals worth $1,726,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Invesco Ltd. raised its holdings in Terns Pharmaceuticals by 13.3% in the fourth quarter. Invesco Ltd. now owns 23,400 shares of the company’s stock valued at $130,000 after buying an additional 2,753 shares during the period. Corebridge Financial Inc. raised its holdings in Terns Pharmaceuticals by 13.5% in the fourth quarter. Corebridge Financial Inc. now owns 34,951 shares of the company’s stock valued at $194,000 after buying an additional 4,169 shares during the period. China Universal Asset Management Co. Ltd. raised its holdings in 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 buying an additional 4,475 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Terns Pharmaceuticals by 26.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,784 shares of the company’s stock valued at $220,000 after buying an additional 8,261 shares during the period. Finally, ProShare Advisors LLC lifted its position in shares of Terns Pharmaceuticals by 58.4% during the fourth quarter. ProShare Advisors LLC now owns 23,821 shares of the company’s stock worth $132,000 after purchasing an additional 8,784 shares in the last quarter. Hedge funds and other institutional investors own 98.26% of the company’s stock.

Terns Pharmaceuticals Trading Up 2.7%

Shares of NASDAQ:TERN opened at $3.02 on Monday. The company has a fifty day simple moving average of $2.81 and a 200 day simple moving average of $4.30. The firm has a market cap of $263.76 million, a PE ratio of -2.56 and a beta of -0.16. Terns Pharmaceuticals, Inc. has a 12-month low of $1.87 and a 12-month high of $11.40.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.03. As a group, equities research analysts forecast that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TERN has been the subject of several analyst reports. William Blair reaffirmed a “market perform” rating on shares of Terns Pharmaceuticals in a report on Friday, March 21st. BMO Capital Markets lowered their price target on shares of Terns Pharmaceuticals from $26.00 to $15.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $20.00 price target on shares of Terns Pharmaceuticals in a report on Monday, April 21st. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $15.63.

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.