Barclays PLC Has $3.90 Million Stock Position in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Barclays PLC increased its position in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) by 444.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Landscape Capital Management L.L.C. bought a new stake in shares of Terns Pharmaceuticals during the fourth quarter valued at approximately $73,000. Townsquare Capital LLC acquired a new position in Terns Pharmaceuticals during the fourth quarter valued at approximately $76,000. Savant Capital LLC bought a new stake in Terns Pharmaceuticals in the fourth quarter valued at approximately $89,000. 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 worth $100,000 after purchasing an additional 4,475 shares during the period. Finally, Stoneridge Investment Partners LLC bought a new position in Terns Pharmaceuticals during the fourth quarter worth about $114,000. Institutional investors own 98.26% of the company's stock.

Terns Pharmaceuticals Stock Down 2.9 %

Shares of TERN traded down $0.11 during midday trading on Friday, reaching $3.46. 509,447 shares of the stock were exchanged, compared to its average volume of 1,525,514. Terns Pharmaceuticals, Inc. has a twelve month low of $1.87 and a twelve month high of $11.40. The stock's 50 day simple moving average is $2.96 and its 200 day simple moving average is $4.79. The company has a market cap of $301.61 million, a P/E ratio of -2.93 and a beta of -0.13.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last posted 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. As a group, analysts predict that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TERN has been the topic of several recent analyst reports. William Blair reiterated a "market perform" rating on shares of Terns Pharmaceuticals in a report on Friday, March 21st. JMP Securities reaffirmed a "market outperform" rating and issued a $20.00 price target on shares of Terns Pharmaceuticals in a research note 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 data from MarketBeat, Terns Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus price target 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.