Polymer Capital Management HK LTD Has $981,000 Stock Holdings in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Polymer Capital Management HK LTD lifted its holdings in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) by 637.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 177,000 shares of the company's stock after acquiring an additional 153,000 shares during the period. Polymer Capital Management HK LTD owned approximately 0.21% of Terns Pharmaceuticals worth $981,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Landscape Capital Management L.L.C. acquired a new position in Terns Pharmaceuticals in the fourth quarter worth about $73,000. Savant Capital LLC acquired a new position in shares of Terns Pharmaceuticals in the 4th quarter worth approximately $89,000. China Universal Asset Management Co. Ltd. raised its holdings in shares of 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 in the last quarter. Stoneridge Investment Partners LLC bought a new position in shares of Terns Pharmaceuticals during the 4th quarter worth approximately $114,000. Finally, Orion Portfolio Solutions LLC acquired a new stake in Terns Pharmaceuticals in the 4th quarter valued at $123,000. 98.26% of the stock is currently owned by institutional investors and hedge funds.

Terns Pharmaceuticals Stock Performance

TERN stock remained flat at $2.14 during midday trading on Friday. The company had a trading volume of 1,046,268 shares, compared to its average volume of 1,505,966. The business has a fifty day moving average of $3.36 and a 200-day moving average of $5.28. Terns Pharmaceuticals, Inc. has a 12-month low of $1.87 and a 12-month high of $11.40. The stock has a market cap of $186.82 million, a P/E ratio of -1.81 and a beta of -0.13.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last announced its earnings results on Thursday, March 20th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.06. On average, sell-side analysts anticipate that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, William Blair reissued a "market perform" rating on shares of Terns Pharmaceuticals in a report on Friday, March 21st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Terns Pharmaceuticals has a consensus rating of "Moderate Buy" and an average price target 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.