Barclays PLC Buys 575,069 Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Barclays PLC grew its stake in Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) by 444.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 704,371 shares of the company's stock after purchasing an additional 575,069 shares during the quarter. Barclays PLC owned approximately 0.83% of Terns Pharmaceuticals worth $3,903,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of TERN. Invesco Ltd. increased its position in Terns Pharmaceuticals by 13.3% during the 4th quarter. Invesco Ltd. now owns 23,400 shares of the company's stock worth $130,000 after buying an additional 2,753 shares during the period. Corebridge Financial Inc. increased its position in Terns Pharmaceuticals by 13.5% during the fourth quarter. Corebridge Financial Inc. now owns 34,951 shares of the company's stock worth $194,000 after acquiring an additional 4,169 shares during the period. China Universal Asset Management Co. Ltd. raised its stake in Terns Pharmaceuticals by 33.1% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 18,010 shares of the company's stock worth $100,000 after purchasing an additional 4,475 shares in the last quarter. SG Americas Securities LLC boosted its holdings 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. Finally, Landscape Capital Management L.L.C. acquired a new position in shares of Terns Pharmaceuticals during the 4th quarter worth approximately $73,000. Institutional investors own 98.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. JMP Securities reiterated a "market outperform" rating and issued a $20.00 price target on shares of Terns Pharmaceuticals in a research note on Monday, April 21st. William Blair reiterated a "market perform" rating on shares of Terns Pharmaceuticals in a research report on Friday, March 21st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, Terns Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus target price of $18.38.

Terns Pharmaceuticals Price Performance

TERN traded up $0.19 during trading on Wednesday, hitting $3.30. 1,022,285 shares of the stock traded hands, compared to its average volume of 1,527,151. The business has a 50 day moving average price of $2.98 and a 200 day moving average price of $4.83. Terns Pharmaceuticals, Inc. has a twelve month low of $1.87 and a twelve month high of $11.40. The company has a market cap of $288.08 million, a price-to-earnings ratio of -2.80 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 for the quarter, topping the consensus estimate of ($0.30) by $0.06. On average, equities research analysts predict that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current 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.