Ikarian Capital’s Terns Pharmaceuticals TERN Stock Holding History

Ikarian Capital’s Portfolio TERN Stock Details TERN Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2026 Q2	–	Sell	-1,200,000	Closed	-$63.3M	–	193
2026 Q1	$63.3M	Buy	+1,200,000	New	+$49.3M	5.14%	3

Other funds holding TERN

IFP Advisors Tampa, Florida $5.54B AUM 27.43% 1-Year Est. Return

Ikarian Capital's TERN Position: Q2 2026 in Review

Ikarian Capital sold out of Terns Pharmaceuticals (TERN) in Q2 2026, closing a stake of 1,456,378 shares — an estimated $76.8M sold.

Ikarian Capital first reported a position in TERN in Q2 2022 and held it in 16 quarters. The position peaked at $76.8M in Q1 2026. 1 fund tracked by Wall St. Rank holds TERN as of Q2 2026.

Ikarian Capital reported no remaining Terns Pharmaceuticals position as of Q2 2026 after selling out during the quarter.
Ikarian Capital sold 1,456,378 Terns Pharmaceuticals shares in Q2 2026, an estimated $76.8M.
Ikarian Capital first reported a position in Terns Pharmaceuticals in Q2 2022 and held it in 16 quarters.
Ikarian Capital's Terns Pharmaceuticals position peaked at $76.8M in Q1 2026.
1 fund tracked by Wall St. Rank held Terns Pharmaceuticals as of Q2 2026.

Based on Ikarian Capital's 13F filing for Q2 2026, filed 14 Aug 2026.