Marshall Wace LLP Purchases 698,578 Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Marshall Wace LLP increased its position in Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) by 666.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 803,336 shares of the company's stock after buying an additional 698,578 shares during the period. Marshall Wace LLP owned 0.95% of Terns Pharmaceuticals worth $4,450,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. 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 worth $21,437,000 after buying an additional 512,768 shares during the last quarter. Candriam S.C.A. acquired a new position in Terns Pharmaceuticals during the fourth quarter valued at approximately $11,933,000. Geode Capital Management LLC grew its holdings in Terns Pharmaceuticals by 25.6% during the fourth quarter. Geode Capital Management LLC now owns 1,516,478 shares of the company's stock valued at $8,403,000 after purchasing an additional 308,999 shares during the last quarter. Norges Bank acquired a new position in Terns Pharmaceuticals during the fourth quarter valued at approximately $4,706,000. Finally, Barclays PLC grew its holdings in Terns Pharmaceuticals by 444.7% during the fourth quarter. Barclays PLC now owns 704,371 shares of the company's stock valued at $3,903,000 after purchasing an additional 575,069 shares during the last quarter. Institutional investors and hedge funds own 98.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TERN. JMP Securities reiterated a "market outperform" rating and set a $20.00 price target 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 given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $18.38.

Terns Pharmaceuticals Price Performance

Shares of Terns Pharmaceuticals stock traded up $0.19 during midday trading on Wednesday, hitting $3.30. The company had a trading volume of 1,022,285 shares, compared to its average volume of 1,528,262. The business's 50 day simple moving average is $2.96 and its two-hundred day simple moving average is $4.82. The stock has a market cap of $288.08 million, a PE ratio of -2.80 and a beta of -0.13. Terns Pharmaceuticals, Inc. has a 1-year low of $1.87 and a 1-year high of $11.40.

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 (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.06. On average, sell-side analysts expect that Terns Pharmaceuticals, Inc. will post -1.19 EPS for the current fiscal year.

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.