Renaissance Technologies LLC Purchases 143,634 Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Renaissance Technologies LLC raised its position in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) by 30.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 623,134 shares of the company's stock after purchasing an additional 143,634 shares during the period. Renaissance Technologies LLC owned 0.73% of Terns Pharmaceuticals worth $3,452,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Invesco Ltd. raised its stake in shares of Terns Pharmaceuticals by 13.3% during the 4th quarter. Invesco Ltd. now owns 23,400 shares of the company's stock worth $130,000 after purchasing an additional 2,753 shares in the last quarter. Polymer Capital Management HK LTD increased its holdings in shares of Terns Pharmaceuticals by 637.5% during the 4th quarter. Polymer Capital Management HK LTD now owns 177,000 shares of the company's stock valued at $981,000 after acquiring an additional 153,000 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Terns Pharmaceuticals by 56.8% during the 4th quarter. Wells Fargo & Company MN now owns 40,966 shares of the company's stock valued at $227,000 after acquiring an additional 14,846 shares during the last quarter. Landscape Capital Management L.L.C. acquired a new position in shares of Terns Pharmaceuticals during the 4th quarter valued at about $73,000. Finally, Geode Capital Management LLC increased its holdings in shares of Terns Pharmaceuticals by 25.6% during the 4th quarter. Geode Capital Management LLC now owns 1,516,478 shares of the company's stock valued at $8,403,000 after acquiring an additional 308,999 shares during the last quarter. 98.26% of the stock is owned by hedge funds and other institutional investors.

Terns Pharmaceuticals Trading Up 0.7 %

TERN traded up $0.02 during midday trading on Monday, reaching $2.94. The company's stock had a trading volume of 507,957 shares, compared to its average volume of 1,526,788. The stock has a market cap of $256.66 million, a P/E ratio of -2.49 and a beta of -0.13. The company has a fifty day simple moving average of $3.00 and a 200 day simple moving average of $4.84. Terns Pharmaceuticals, Inc. has a twelve month low of $1.87 and a twelve month 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) EPS for the quarter, topping analysts' consensus estimates of ($0.30) by $0.06. Sell-side analysts expect that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current year.

Analysts Set New Price Targets

TERN has been the topic of a number of analyst reports. JMP Securities reissued a "market outperform" rating and set a $20.00 price objective on shares of Terns Pharmaceuticals in a report on Monday, April 21st. William Blair reissued a "market perform" rating on shares of Terns Pharmaceuticals in a report on Friday, March 21st. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $18.38.

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.