Schonfeld Strategic Advisors LLC Increases Stock Holdings in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Schonfeld Strategic Advisors LLC lifted its position in Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) by 44.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,751,506 shares of the company's stock after purchasing an additional 1,461,680 shares during the period. Schonfeld Strategic Advisors LLC owned 5.59% of Terns Pharmaceuticals worth $26,323,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Landscape Capital Management L.L.C. purchased a new position in Terns Pharmaceuticals during the 4th quarter worth $73,000. Townsquare Capital LLC acquired a new position in Terns Pharmaceuticals in the 4th quarter worth approximately $76,000. Oxford Asset Management LLP acquired a new stake in shares of Terns Pharmaceuticals in the fourth quarter worth $86,000. Savant Capital LLC purchased a new position in shares of Terns Pharmaceuticals during the 4th quarter valued at about $89,000. Finally, China Universal Asset Management Co. Ltd. lifted 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 valued at $100,000 after buying an additional 4,475 shares during the period. 98.26% of the stock is currently owned by hedge funds and other institutional investors.

Terns Pharmaceuticals Stock Performance

Shares of NASDAQ:TERN traded down $0.06 during midday trading on Friday, hitting $3.50. The company's stock had a trading volume of 1,706,206 shares, compared to its average volume of 1,538,088. The company has a market cap of $305.54 million, a P/E ratio of -2.97 and a beta of -0.13. Terns Pharmaceuticals, Inc. has a 12-month low of $1.87 and a 12-month high of $11.40. The business's 50 day simple moving average is $2.95 and its 200 day simple moving average is $4.74.

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

Analyst Ratings Changes

TERN has been the topic of a number of analyst reports. JMP Securities reaffirmed a "market outperform" rating and set a $20.00 price objective on shares of Terns Pharmaceuticals in a research note on Monday, April 21st. 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 MarketBeat.com, Terns Pharmaceuticals has an average rating of "Moderate Buy" and a consensus 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.