Acorn Capital Advisors LLC Purchases New Position in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Acorn Capital Advisors LLC acquired a new position in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 1,971,264 shares of the company's stock, valued at approximately $10,921,000. Terns Pharmaceuticals comprises 6.0% of Acorn Capital Advisors LLC's investment portfolio, making the stock its 7th biggest position. Acorn Capital Advisors LLC owned approximately 2.32% of Terns Pharmaceuticals as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its holdings in shares of Terns Pharmaceuticals by 16.0% in the 4th quarter. Rhumbline Advisers now owns 97,892 shares of the company's stock valued at $542,000 after buying an additional 13,479 shares in the last quarter. LPL Financial LLC lifted its position in Terns Pharmaceuticals by 397.2% during the fourth quarter. LPL Financial LLC now owns 252,325 shares of the company's stock valued at $1,398,000 after acquiring an additional 201,575 shares during the last quarter. Norges Bank acquired a new stake in Terns Pharmaceuticals in the fourth quarter valued at approximately $4,706,000. Geode Capital Management LLC grew its holdings 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 worth $10,072,000 after purchasing an additional 85,617 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of 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 purchasing an additional 512,768 shares in the last quarter. Institutional investors own 98.26% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. William Blair reissued a "market perform" rating on shares of Terns Pharmaceuticals in a research report on Friday, March 21st. JMP Securities reissued a "market outperform" rating and issued 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.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.38.

Terns Pharmaceuticals Stock Performance

Shares of NASDAQ TERN traded up $0.13 during mid-day trading on Wednesday, hitting $3.14. The stock had a trading volume of 175,936 shares, compared to its average volume of 1,532,011. The firm has a market cap of $273.80 million, a PE ratio of -2.64 and a beta of -0.16. The company has a 50 day moving average of $2.93 and a two-hundred day moving average of $4.68. 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 data on Thursday, March 20th. The company reported ($0.24) earnings per share for the quarter, beating analysts' consensus estimates of ($0.30) by $0.06. Equities research analysts predict that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current fiscal year.

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.