Dimensional Fund Advisors LP Purchases 673,570 Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Dimensional Fund Advisors LP boosted its holdings in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) by 107.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm 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 approximately 1.53% of Terns Pharmaceuticals worth $7,218,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Landscape Capital Management L.L.C. purchased a new stake in Terns Pharmaceuticals during the fourth quarter valued at about $73,000. Townsquare Capital LLC bought a new position in shares of Terns Pharmaceuticals during the 4th quarter valued at about $76,000. Savant Capital LLC purchased a new position in shares of Terns Pharmaceuticals during the 4th quarter valued at about $89,000. China Universal Asset Management Co. Ltd. lifted 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 worth $100,000 after buying an additional 4,475 shares during the last quarter. Finally, Stoneridge Investment Partners LLC purchased a new stake in Terns Pharmaceuticals in the fourth quarter worth approximately $114,000. 98.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on TERN. BMO Capital Markets decreased their price target on shares of Terns Pharmaceuticals from $26.00 to $15.00 and set an "outperform" rating on the stock in a research note on Tuesday. William Blair reissued a "market perform" rating on shares of Terns Pharmaceuticals in a research note on Friday, March 21st. Finally, JMP Securities reiterated a "market outperform" rating and issued a $20.00 price objective on shares of Terns Pharmaceuticals in a report on Monday, April 21st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Terns Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus target price of $15.63.

Terns Pharmaceuticals Stock Performance

NASDAQ:TERN traded up $0.01 during midday trading on Friday, reaching $2.80. 167,714 shares of the stock traded hands, compared to its average volume of 1,525,455. The company has a fifty day moving average of $2.85 and a 200 day moving average of $4.50. Terns Pharmaceuticals, Inc. has a 12 month low of $1.87 and a 12 month high of $11.40. The stock has a market capitalization of $244.11 million, a P/E ratio of -2.37 and a beta of -0.16.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.29) by $0.03. On average, analysts predict that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current fiscal year.

Terns Pharmaceuticals Company 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.