Renaissance Technologies LLC Grows Stock Holdings in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Renaissance Technologies LLC grew its holdings in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 30.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 623,134 shares of the company’s stock after purchasing an additional 143,634 shares during the period. Renaissance Technologies LLC owned approximately 0.73% of Terns Pharmaceuticals worth $3,452,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Invesco Ltd. grew its holdings in shares of Terns Pharmaceuticals by 13.3% during the fourth 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. Polymer Capital Management HK LTD raised its position in Terns Pharmaceuticals by 637.5% during the 4th quarter. Polymer Capital Management HK LTD now owns 177,000 shares of the company’s stock worth $981,000 after buying an additional 153,000 shares during the last quarter. Wells Fargo & Company MN lifted its stake in 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 period. Landscape Capital Management L.L.C. acquired a new position in Terns Pharmaceuticals during the fourth quarter valued at $73,000. Finally, Geode Capital Management LLC boosted its holdings in Terns Pharmaceuticals by 25.6% in 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. Institutional investors and hedge funds own 98.26% of the company’s stock.

Terns Pharmaceuticals Trading Up 3.3 %

Shares of TERN opened at $2.80 on Wednesday. The firm has a market cap of $244.43 million, a P/E ratio of -2.37 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 stock’s 50 day moving average is $3.09 and its two-hundred day moving average is $4.99.

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on TERN shares. William Blair reiterated a “market perform” rating on shares of Terns Pharmaceuticals in a research note on Friday, March 21st. JMP Securities reiterated a “market outperform” rating and issued a $20.00 target price on shares of Terns Pharmaceuticals in a research note on Monday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average 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.