Polymer Capital Management HK LTD Increases Stock Holdings in Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Polymer Capital Management HK LTD increased its holdings in Terns Pharmaceuticals, Inc. (NASDAQ:TERN) by 637.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 177,000 shares of the company’s stock after buying an additional 153,000 shares during the period. Polymer Capital Management HK LTD owned about 0.21% of Terns Pharmaceuticals worth $981,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Terns Pharmaceuticals by 15.3% in the fourth quarter. Vanguard Group Inc. now owns 3,869,582 shares of the company’s stock valued at $21,437,000 after purchasing an additional 512,768 shares in the last quarter. Candriam S.C.A. purchased a new position in shares of Terns Pharmaceuticals during the 4th quarter worth approximately $11,933,000. Geode Capital Management LLC raised its position 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 worth $8,403,000 after purchasing an additional 308,999 shares during the last quarter. Norges Bank purchased a new stake in Terns Pharmaceuticals in the 4th quarter valued at approximately $4,706,000. Finally, Alliancebernstein L.P. grew its holdings in Terns Pharmaceuticals by 48.2% during the 4th quarter. Alliancebernstein L.P. now owns 362,359 shares of the company’s stock valued at $2,007,000 after buying an additional 117,783 shares during the last quarter. 98.26% of the stock is owned by institutional investors and hedge funds.

Terns Pharmaceuticals Stock Performance

TERN stock opened at $2.10 on Monday. The company has a 50 day moving average price of $3.69 and a two-hundred day moving average price of $5.59. The stock has a market capitalization of $183.33 million, a P/E ratio of -1.78 and a beta of -0.13. Terns Pharmaceuticals, Inc. has a one year low of $1.96 and a one year high of $11.40.

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

Wall Street Analyst Weigh In

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