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TERN

Terns Pharmaceuticals
TERN

Delisted

TERN was delisted on the 4th of May, 2026.

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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.

New
Increased
Maintained
Reduced
Closed

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%)

Holders
65
Holders Change
+20
Holders Change %
+44.44%
% of All Funds
1.04%
Holding in Top 10
5
Holding in Top 10 Change
+3
Holding in Top 10 Change %
+150%
% of All Funds
0.08%
New
25
Increased
23
Reduced
14
Closed
5
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Fidelity Investments
Fidelity Investments
Massachusetts
+$48.4M
2
SCM
Suvretta Capital Management
New York
+$23M
3
Millennium Management
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
Texas
-$1.11M
3
Barclays
Barclays
United Kingdom
-$948K
4
PVI
Pura Vida Investments
New York
-$822K
5
SB
Samsara BioCapital
California
-$577K
Name Holding Trade Value Shares
Change 		Change in
Stake
O
1
OrbiMed
New York
$77.6M +$918K +137,931 +2%
Fidelity Investments
2
Fidelity Investments
Massachusetts
$75.1M +$48.4M +7,277,002 +7,160%
VC
3
Vivo Capital
California
$67.8M +$5.05M +758,620 +13%
VA
4
VR Adviser
New York
$37.7M – – –
SCM
5
Suvretta Capital Management
New York
$35.1M +$23M +3,448,275 New
DM
6
Deerfield Management
New York
$29M +$6.6M +991,287 +53%
DCM
7
Driehaus Capital Management
Illinois
$23.4M +$4.64M +696,447 +44%
FFM
8
Fairmount Funds Management
Pennsylvania
$20.8M -$66.6K -10,000 -0.5%
Millennium Management
9
Millennium Management
New York
$14.8M +$7.15M +1,074,492 +281%
JP Morgan Chase
10
JP Morgan Chase
New York
$12.3M +$1.92M +288,109 +31%
Vanguard Group
11
Vanguard Group
Pennsylvania
$11.5M +$3.37M +506,904 +82%
ACP
12
Acuta Capital Partners
California
$11.2M +$4.99M +749,298 +214%
RI
13
RTW Investments
New York
$10.2M +$6.66M +1,000,000 New
Franklin Resources
14
Franklin Resources
California
$7.64M +$4.99M +750,024 New
IC
15
Ikarian Capital
Texas
$7.51M -$1.11M -166,800 -18%
DCMIC
16
Decheng Capital Management III (Cayman)
Cayman Islands
$7.27M – – –
SCM
17
Silverarc Capital Management
Massachusetts
$7.13M +$4.56M +685,527 +4,737%
PVI
18
Pura Vida Investments
New York
$6.16M -$822K -123,521 -17%
AC
19
Armistice Capital
New York
$5.7M -$266K -40,000 -7%
Barclays
20
Barclays
United Kingdom
$5.26M -$948K -142,359 -22%
Citadel Advisors
21
Citadel Advisors
Florida
$5.25M +$3.43M +515,797 New
BlackRock
22
BlackRock
New York
$3.05M +$87.5K +13,145 +5%
Point72 Asset Management
23
Point72 Asset Management
Connecticut
$2.38M +$1.55M +233,500 New
SB
24
Samsara BioCapital
California
$2.06M -$577K -86,720 -30%
Bank of Montreal
25
Bank of Montreal
Ontario, Canada
$1.98M +$1.29M +194,100 New
1
2 3

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.