Terns Pharmaceuticals
TERN
TERN was delisted on the 4th of May, 2026.
157 hedge funds and large institutions have $477M invested in Terns Pharmaceuticals in 2024 Q4 according to their latest regulatory filings, with 38 funds opening new positions, 67 increasing their positions, 33 reducing their positions, and 36 closing their positions.
325% more call options, than puts
Call options by funds: $3.69M | Put options by funds: $869K
103% more repeat investments, than reductions
Existing positions increased: 67 | Existing positions reduced: 33
33% more funds holding in top 10
Funds holding in top 10: 3 → 4 (+1)
7.26% more ownership
Funds ownership: 94.16% → 101.42% (+7.3%)
6% more first-time investments, than exits
New positions opened: 38 | Existing positions closed: 36
1% more funds holding
Funds holding: 156 → 157 (+1)
28% less capital invested
Capital invested by funds: $663M → $477M (-$186M)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
+$17.4M |
| 2 |
CS
Candriam SCA
Strassen, Luxembourg,
Luxembourg
|
+$14.6M |
| 3 |
SCM
Soleus Capital Management
Greenwich,
Connecticut
|
+$13M |
| 4 |
SSA
Schonfeld Strategic Advisors
New York
|
+$9.9M |
| 5 |
BlackRock
New York
|
+$7.07M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
APM
Avidity Partners Management
Dallas,
Texas
|
-$17.8M |
| 2 |
VA
VR Adviser
New York
|
-$15.8M |
| 3 |
ECM
ExodusPoint Capital Management
New York
|
-$11.1M |
| 4 |
Point72 Asset Management
Stamford,
Connecticut
|
-$9.86M |
| 5 |
Fidelity Investments
Boston,
Massachusetts
|
-$7.17M |
TERN Hedge Fund Activity: Q4 2024 in Review
157 of the 7,593 institutional investors tracked by Wall St. Rank reported a position in Terns Pharmaceuticals (TERN) for Q4 2024, worth a combined $477M — down 28% from $663M a quarter earlier.
Buyers outnumbered sellers: 38 funds opened new TERN positions and 36 closed out — a net gain of 2 holders — while 67 added to existing stakes and 33 trimmed.
The largest buyer was Morgan Stanley, adding an estimated $17.4M. The largest seller was Avidity Partners Management, exiting entirely with an estimated $17.8M sold.
- 157 institutional investors held Terns Pharmaceuticals (TERN) as of Q4 2024, up from 156 in Q3 2024.
- Funds reported $477M of Terns Pharmaceuticals stock for Q4 2024, down 28% quarter-over-quarter.
- 38 funds opened new Terns Pharmaceuticals positions in Q4 2024 and 36 closed out, a net change of +2 holders.
- The largest Terns Pharmaceuticals buyer in Q4 2024 was Morgan Stanley, an estimated $17.4M added.
- The largest Terns Pharmaceuticals seller in Q4 2024 was Avidity Partners Management, an estimated $17.8M sold.
Based on aggregated 13F filings for Q4 2024.