Terns Pharmaceuticals
TERN
TERN was delisted on the 4th of May, 2026.
103 hedge funds and large institutions have $505M invested in Terns Pharmaceuticals in 2023 Q2 according to their latest regulatory filings, with 41 funds opening new positions, 29 increasing their positions, 22 reducing their positions, and 16 closing their positions.
156% more first-time investments, than exits
New positions opened: 41 | Existing positions closed: 16
32% more funds holding
Funds holding: 78 → 103 (+25)
32% more repeat investments, than reductions
Existing positions increased: 29 | Existing positions reduced: 22
7.93% more ownership
Funds ownership: 93.9% → 101.83% (+7.9%)
14% less funds holding in top 10
Funds holding in top 10: 7 → 6 (-1)
20% less capital invested
Capital invested by funds: $630M → $505M (-$125M)
69% less call options, than puts
Call options by funds: $3.35M | Put options by funds: $10.7M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
BlackRock
New York
|
+$28.4M |
| 2 |
SCM
Suvretta Capital Management
New York
|
+$24.6M |
| 3 |
Millennium Management
New York
|
+$14M |
| 4 |
DTC
Deep Track Capital
Greenwich,
Connecticut
|
+$12.8M |
| 5 |
Vanguard Group
Malvern,
Pennsylvania
|
+$10.9M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
PA
Perceptive Advisors
New York
|
-$15.7M |
| 2 |
DCM
Driehaus Capital Management
Chicago,
Illinois
|
-$9.88M |
| 3 |
VA
VR Adviser
New York
|
-$7.54M |
| 4 |
Point72 Asset Management
Stamford,
Connecticut
|
-$7.45M |
| 5 |
Fidelity Investments
Boston,
Massachusetts
|
-$6.9M |
TERN Hedge Fund Activity: Q2 2023 in Review
103 of the 6,370 institutional investors tracked by Wall St. Rank reported a position in Terns Pharmaceuticals (TERN) for Q2 2023, worth a combined $505M — down 20% from $630M a quarter earlier.
Buyers outnumbered sellers: 41 funds opened new TERN positions and 16 closed out — a net gain of 25 holders — while 29 added to existing stakes and 22 trimmed.
The largest buyer was BlackRock, adding an estimated $28.4M. The largest seller was Perceptive Advisors, exiting entirely with an estimated $15.7M sold.
- 103 institutional investors held Terns Pharmaceuticals (TERN) as of Q2 2023, up from 78 in Q1 2023.
- Funds reported $505M of Terns Pharmaceuticals stock for Q2 2023, down 20% quarter-over-quarter.
- 41 funds opened new Terns Pharmaceuticals positions in Q2 2023 and 16 closed out, a net change of +25 holders.
- The largest Terns Pharmaceuticals buyer in Q2 2023 was BlackRock, an estimated $28.4M added.
- The largest Terns Pharmaceuticals seller in Q2 2023 was Perceptive Advisors, an estimated $15.7M sold.
Based on aggregated 13F filings for Q2 2023.