Terns Pharmaceuticals
TERN
TERN was delisted on the 4th of May, 2026.
65 hedge funds and large institutions have $505M invested in Terns Pharmaceuticals in 2022 Q4 according to their latest regulatory filings, with 25 funds opening new positions, 23 increasing their positions, 14 reducing their positions, and 5 closing their positions.
400% more first-time investments, than exits
New positions opened: 25 | Existing positions closed: 5
277% more capital invested
Capital invested by funds: $134M → $505M (+$371M)
150% more funds holding in top 10
Funds holding in top 10: 2 → 5 (+3)
64% more repeat investments, than reductions
Existing positions increased: 23 | Existing positions reduced: 14
44% more funds holding
Funds holding: 45 → 65 (+20)
23.14% more ownership
Funds ownership: 80.54% → 103.68% (+23%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Fidelity Investments
Boston,
Massachusetts
|
+$48.4M |
| 2 |
SCM
Suvretta Capital Management
New York
|
+$23M |
| 3 |
Millennium Management
New York
|
+$7.15M |
| 4 |
RI
RTW Investments
New York
|
+$6.66M |
| 5 |
DM
Deerfield Management
New York
|
+$6.6M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
CC
Commodore Capital
New York
|
-$1.21M |
| 2 |
IC
Ikarian Capital
Dallas,
Texas
|
-$1.11M |
| 3 |
Barclays
London,
United Kingdom
|
-$948K |
| 4 |
PVI
Pura Vida Investments
New York
|
-$822K |
| 5 |
SB
Samsara BioCapital
Palo Alto,
California
|
-$577K |
TERN Hedge Fund Activity: Q4 2022 in Review
65 of the 6,222 institutional investors tracked by Wall St. Rank reported a position in Terns Pharmaceuticals (TERN) for Q4 2022, worth a combined $505M — up 277% from $134M a quarter earlier.
Buyers outnumbered sellers: 25 funds opened new TERN positions and 5 closed out — a net gain of 20 holders — while 23 added to existing stakes and 14 trimmed.
The largest buyer was Fidelity Investments, adding an estimated $48.4M. The largest seller was Commodore Capital, exiting entirely with an estimated $1.21M sold.
- 65 institutional investors held Terns Pharmaceuticals (TERN) as of Q4 2022, up from 45 in Q3 2022.
- Funds reported $505M of Terns Pharmaceuticals stock for Q4 2022, up 277% quarter-over-quarter.
- 25 funds opened new Terns Pharmaceuticals positions in Q4 2022 and 5 closed out, a net change of +20 holders.
- The largest Terns Pharmaceuticals buyer in Q4 2022 was Fidelity Investments, an estimated $48.4M added.
- The largest Terns Pharmaceuticals seller in Q4 2022 was Commodore Capital, an estimated $1.21M sold.
Based on aggregated 13F filings for Q4 2022.