Terns Pharmaceuticals
TERN
TERN was delisted on the 4th of May, 2026.
78 hedge funds and large institutions have $630M invested in Terns Pharmaceuticals in 2023 Q1 according to their latest regulatory filings, with 28 funds opening new positions, 25 increasing their positions, 15 reducing their positions, and 14 closing their positions.
100% more first-time investments, than exits
New positions opened: 28 | Existing positions closed: 14
67% more repeat investments, than reductions
Existing positions increased: 25 | Existing positions reduced: 15
40% more funds holding in top 10
Funds holding in top 10: 5 → 7 (+2)
25% more capital invested
Capital invested by funds: $505M → $630M (+$125M)
22% more funds holding
Funds holding: 64 → 78 (+14)
9.57% less ownership
Funds ownership: 103.47% → 93.9% (-9.6%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
B
Braidwell
Stamford,
Connecticut
|
+$19.1M |
| 2 |
PA
Perceptive Advisors
New York
|
+$12.9M |
| 3 |
Franklin Resources
San Mateo,
California
|
+$6.76M |
| 4 |
Invesco
Atlanta,
Georgia
|
+$5.49M |
| 5 |
BlackRock
New York
|
+$3.83M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
RI
RTW Investments
New York
|
-$10.2M |
| 2 |
DM
Deerfield Management
New York
|
-$7.57M |
| 3 |
PVI
Pura Vida Investments
New York
|
-$6.16M |
| 4 |
AC
Armistice Capital
New York
|
-$5.7M |
| 5 |
JP Morgan Chase
New York
|
-$5.5M |
TERN Hedge Fund Activity: Q1 2023 in Review
78 of the 6,284 institutional investors tracked by Wall St. Rank reported a position in Terns Pharmaceuticals (TERN) for Q1 2023, worth a combined $630M — up 25% from $505M a quarter earlier.
Buyers outnumbered sellers: 28 funds opened new TERN positions and 14 closed out — a net gain of 14 holders — while 25 added to existing stakes and 15 trimmed.
The largest buyer was Braidwell, opening a new position worth an estimated $19.1M. The largest seller was RTW Investments, exiting entirely with an estimated $10.2M sold.
- 78 institutional investors held Terns Pharmaceuticals (TERN) as of Q1 2023, up from 64 in Q4 2022.
- Funds reported $630M of Terns Pharmaceuticals stock for Q1 2023, up 25% quarter-over-quarter.
- 28 funds opened new Terns Pharmaceuticals positions in Q1 2023 and 14 closed out, a net change of +14 holders.
- The largest Terns Pharmaceuticals buyer in Q1 2023 was Braidwell, an estimated $19.1M added.
- The largest Terns Pharmaceuticals seller in Q1 2023 was RTW Investments, an estimated $10.2M sold.
Based on aggregated 13F filings for Q1 2023.