Martingale Asset Management L P Raises Stock Holdings in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Martingale Asset Management L P grew its stake in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 32.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 98,106 shares of the company’s stock after acquiring an additional 24,033 shares during the quarter. Martingale Asset Management L P owned about 0.12% of Terns Pharmaceuticals worth $544,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in TERN. Charles Schwab Investment Management Inc. lifted its position in Terns Pharmaceuticals by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 154,714 shares of the company’s stock valued at $1,290,000 after purchasing an additional 1,994 shares during the period. Invesco Ltd. raised its stake in Terns Pharmaceuticals by 13.3% during the 4th quarter. Invesco Ltd. now owns 23,400 shares of the company’s stock valued at $130,000 after buying an additional 2,753 shares during the last quarter. Corebridge Financial Inc. lifted its holdings in shares of Terns Pharmaceuticals by 13.5% during the 4th quarter. Corebridge Financial Inc. now owns 34,951 shares of the company’s stock valued at $194,000 after buying an additional 4,169 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake 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 during the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Terns Pharmaceuticals by 40.0% in the fourth quarter. SG Americas Securities LLC now owns 33,333 shares of the company’s stock worth $185,000 after acquiring an additional 9,523 shares during the period. Hedge funds and other institutional investors own 98.26% of the company’s stock.

Analyst Ratings Changes

Separately, William Blair reissued a “market perform” rating on shares of Terns Pharmaceuticals in a report on Friday, March 21st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Terns Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $18.38.

Terns Pharmaceuticals Stock Performance

TERN opened at $2.14 on Friday. Terns Pharmaceuticals, Inc. has a 1-year low of $1.87 and a 1-year high of $11.40. The firm’s 50 day simple moving average is $3.36 and its two-hundred day simple moving average is $5.28. The company has a market capitalization of $186.82 million, a PE ratio of -1.81 and a beta of -0.13.

Terns Pharmaceuticals (NASDAQ:TERN) last released its earnings results on Thursday, March 20th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.06. Equities analysts forecast that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current fiscal year.

About Terns Pharmaceuticals

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.