Acorn Capital Advisors LLC Invests $10.92 Million in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Acorn Capital Advisors LLC bought a new stake in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 1,971,264 shares of the company's stock, valued at approximately $10,921,000. Terns Pharmaceuticals accounts for 6.0% of Acorn Capital Advisors LLC's holdings, making the stock its 7th biggest position. Acorn Capital Advisors LLC owned 2.32% of Terns Pharmaceuticals as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the business. Rhumbline Advisers grew its position in shares of Terns Pharmaceuticals by 16.0% during 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 during the last quarter. LPL Financial LLC raised its holdings in Terns Pharmaceuticals by 397.2% during the 4th quarter. LPL Financial LLC now owns 252,325 shares of the company's stock worth $1,398,000 after buying an additional 201,575 shares during the period. Norges Bank acquired a new stake in shares of Terns Pharmaceuticals in the fourth quarter worth $4,706,000. Geode Capital Management LLC increased its stake in Terns Pharmaceuticals by 7.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,207,479 shares of the company's stock valued at $10,072,000 after buying an additional 85,617 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Terns Pharmaceuticals by 15.3% in the 4th quarter. Vanguard Group Inc. now owns 3,869,582 shares of the company's stock valued at $21,437,000 after buying an additional 512,768 shares in the last quarter. 98.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TERN. JMP Securities reiterated a "market outperform" rating and issued a $20.00 price objective on shares of Terns Pharmaceuticals in a research note on Monday, April 21st. William Blair reissued a "market perform" rating on shares of Terns Pharmaceuticals in a research note on Friday, March 21st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, Terns Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average price target of $18.38.

Terns Pharmaceuticals Price Performance

Shares of NASDAQ:TERN opened at $3.56 on Friday. Terns Pharmaceuticals, Inc. has a 1 year low of $1.87 and a 1 year high of $11.40. The company has a market capitalization of $310.78 million, a P/E ratio of -3.02 and a beta of -0.13. The business's 50 day simple moving average is $2.96 and its 200 day simple moving average is $4.79.

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, sell-side analysts anticipate that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current fiscal year.

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.

Want to see what other hedge funds are holding TERN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.