Terns Pharmaceuticals
TERN
TERN was delisted on the 4th of May, 2026.
103 hedge funds and large institutions have $424M invested in Terns Pharmaceuticals in 2023 Q4 according to their latest regulatory filings, with 26 funds opening new positions, 33 increasing their positions, 22 reducing their positions, and 15 closing their positions.
535% more call options, than puts
Call options by funds: $1.58M | Put options by funds: $249K
73% more first-time investments, than exits
New positions opened: 26 | Existing positions closed: 15
50% more repeat investments, than reductions
Existing positions increased: 33 | Existing positions reduced: 22
37% more capital invested
Capital invested by funds: $310M → $424M (+$113M)
11% more funds holding
Funds holding: 93 → 103 (+10)
4.63% more ownership
Funds ownership: 101.05% → 105.68% (+4.6%)
0% more funds holding in top 10
Funds holding in top 10: 1 → 1 (0)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
+$13M |
| 2 |
Janus Henderson Group
London,
United Kingdom
|
+$7.53M |
| 3 |
VA
VR Adviser
New York
|
+$7.43M |
| 4 |
Adage Capital Partners
Boston,
Massachusetts
|
+$5.02M |
| 5 |
GPP
Great Point Partners
Greenwich,
Connecticut
|
+$3.51M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Fidelity Investments
Boston,
Massachusetts
|
-$11.2M |
| 2 |
Point72 Asset Management
Stamford,
Connecticut
|
-$2.87M |
| 3 |
B
Braidwell
Stamford,
Connecticut
|
-$2.76M |
| 4 |
DCM
Driehaus Capital Management
Chicago,
Illinois
|
-$2.58M |
| 5 |
Renaissance Technologies
New York
|
-$1.46M |
TERN Hedge Fund Activity: Q4 2023 in Review
103 of the 6,860 institutional investors tracked by Wall St. Rank reported a position in Terns Pharmaceuticals (TERN) for Q4 2023, worth a combined $424M — up 37% from $310M a quarter earlier.
Buyers outnumbered sellers: 26 funds opened new TERN positions and 15 closed out — a net gain of 11 holders — while 33 added to existing stakes and 22 trimmed.
The largest buyer was Morgan Stanley, adding an estimated $13M. The largest seller was Fidelity Investments, cutting an estimated $11.2M.
- 103 institutional investors held Terns Pharmaceuticals (TERN) as of Q4 2023, up from 93 in Q3 2023.
- Funds reported $424M of Terns Pharmaceuticals stock for Q4 2023, up 37% quarter-over-quarter.
- 26 funds opened new Terns Pharmaceuticals positions in Q4 2023 and 15 closed out, a net change of +11 holders.
- The largest Terns Pharmaceuticals buyer in Q4 2023 was Morgan Stanley, an estimated $13M added.
- The largest Terns Pharmaceuticals seller in Q4 2023 was Fidelity Investments, an estimated $11.2M sold.
Based on aggregated 13F filings for Q4 2023.