Geode Capital Management LLC Has $8.40 Million Stock Holdings in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Geode Capital Management LLC lifted its position in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) by 25.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,516,478 shares of the company's stock after acquiring an additional 308,999 shares during the quarter. Geode Capital Management LLC owned approximately 1.79% of Terns Pharmaceuticals worth $8,403,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Terns Pharmaceuticals by 15.3% in the fourth quarter. Vanguard Group Inc. now owns 3,869,582 shares of the company's stock valued at $21,437,000 after purchasing an additional 512,768 shares during the last quarter. Candriam S.C.A. bought a new stake in Terns Pharmaceuticals in the fourth quarter valued at about $11,933,000. Norges Bank bought a new stake in Terns Pharmaceuticals in the fourth quarter valued at about $4,706,000. Alliancebernstein L.P. increased its holdings in Terns Pharmaceuticals by 48.2% in the fourth quarter. Alliancebernstein L.P. now owns 362,359 shares of the company's stock valued at $2,007,000 after purchasing an additional 117,783 shares during the last quarter. Finally, LPL Financial LLC increased its holdings in Terns Pharmaceuticals by 397.2% in the fourth quarter. LPL Financial LLC now owns 252,325 shares of the company's stock valued at $1,398,000 after purchasing an additional 201,575 shares during the last quarter. Institutional investors own 98.26% of the company's stock.

Terns Pharmaceuticals Price Performance

Shares of Terns Pharmaceuticals stock traded up $0.17 during trading hours on Tuesday, hitting $3.11. The company's stock had a trading volume of 1,087,286 shares, compared to its average volume of 1,529,168. Terns Pharmaceuticals, Inc. has a 12 month low of $1.87 and a 12 month high of $11.40. The stock has a 50 day moving average of $2.98 and a 200 day moving average of $4.83. The company has a market capitalization of $271.50 million, a PE ratio of -2.64 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. Equities analysts expect that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on TERN shares. 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. William Blair reiterated a "market perform" rating on shares of Terns Pharmaceuticals in a 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 data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $18.38.

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.