Dimensional Fund Advisors LP Has $7.22 Million Holdings in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Dimensional Fund Advisors LP increased its stake in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) by 107.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,302,932 shares of the company's stock after buying an additional 673,570 shares during the period. Dimensional Fund Advisors LP owned 1.53% of Terns Pharmaceuticals worth $7,218,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in TERN. Landscape Capital Management L.L.C. bought a new position in shares of Terns Pharmaceuticals in the fourth quarter worth about $73,000. Townsquare Capital LLC bought a new position in Terns Pharmaceuticals in the 4th quarter worth approximately $76,000. Savant Capital LLC acquired a new position in Terns Pharmaceuticals during the 4th quarter worth $89,000. China Universal Asset Management Co. Ltd. boosted its position 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 valued at $100,000 after buying an additional 4,475 shares during the last quarter. Finally, Stoneridge Investment Partners LLC acquired a new stake in shares of Terns Pharmaceuticals in the 4th quarter valued at $114,000. Institutional investors own 98.26% of the company's stock.

Terns Pharmaceuticals Trading Down 4.1%

Shares of NASDAQ:TERN traded down $0.12 during midday trading on Wednesday, hitting $2.78. The company had a trading volume of 866,510 shares, compared to its average volume of 1,529,610. Terns Pharmaceuticals, Inc. has a 12 month low of $1.87 and a 12 month high of $11.40. The firm has a fifty day simple moving average of $2.87 and a 200 day simple moving average of $4.54. The stock has a market cap of $242.80 million, a price-to-earnings ratio of -2.36 and a beta of -0.16.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last issued its 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. Equities 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 topic of several research reports. JMP Securities reaffirmed a "market outperform" rating and set a $20.00 price target on shares of Terns Pharmaceuticals in a research note on Monday, April 21st. BMO Capital Markets dropped their price objective on Terns Pharmaceuticals from $26.00 to $15.00 and set an "outperform" rating for the company in a report on Tuesday. Finally, William Blair reaffirmed 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, the company has an average rating of "Moderate Buy" and an average target price of $15.63.

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.