Investment Firm Builds Position in TERN Stock, According to Recent SEC Filing
Key Points
New position: 375,000 shares added; estimated trade size ~$15.15 million based on quarterly average price
Quarter-end position value increased by $15.15 million, reflecting both trading activity and stock price movement
Position accounts for a 3.32% change in Boxer Capital’s 13F reportable assets under management
Post-trade holding: 375,000 shares valued at $15.15 million
TERN enters Boxer Capital’s portfolio as a new position but is not among the fund’s top five holdings
- 10 stocks we like better than Terns Pharmaceuticals ›
On February 17, 2026, Boxer Capital Management, LLC disclosed a new position in Terns Pharmaceuticals (NASDAQ:TERN), acquiring 375,000 shares in a transaction estimated at $15.15 million based on quarterly average pricing.
What Happened
Boxer Capital Management, LLC disclosed a new position in Terns Pharmaceuticals, according to its SEC filing dated February 17, 2026. The fund reported acquiring 375,000 shares during the fourth quarter, with the estimated transaction value at $15.15 million based on the average price over the period. The quarter-end value of the Terns Pharmaceuticals stake rose by $15.15 million, reflecting the combined impact of share purchases and price changes.
What Else to Know
This new position now represents 3.32% of Boxer Capital’s $456.88 million in 13F reportable assets under management.
Top holdings after the filing:
- NASDAQ: TNGX: $96.36 million (21.1% of AUM)
- NASDAQ: RVMD: $31.86 million (7.0% of AUM)
- NASDAQ: KOD: $31.76 million (7.0% of AUM)
- NASDAQ: KYMR: $25.61 million (5.6% of AUM)
- NASDAQ: CELC: $22.44 million (4.9% of AUM)
As of February 17, 2026, shares were priced at $39.58, up 858.4% over the past year, outperforming the S&P 500 by 862.96 percentage points.
Company Overview
| Metric | Value |
|---|---|
| Price (as of market close 2/17/26) | $39.58 |
| Market capitalization | $3.57 billion |
| Employees | 59 |
| One-year price change | 858.35% |
Company Snapshot
- Develops small-molecule therapies targeting non-alcoholic steatohepatitis (NASH) and obesity, with lead candidates including TERN-101, TERN-201, TERN-501, and TERN-601 in various clinical trial phases.
- Operates as a clinical-stage biopharmaceutical company, generating value through the development and potential future commercialization or out-licensing of proprietary drug candidates.
- Serves pharmaceutical markets focused on metabolic and liver diseases, with primary customers expected to include healthcare providers and patients affected by NASH and obesity.
Terns Pharmaceuticals is a clinical-stage biotechnology company specializing in the development of novel therapies for liver and metabolic diseases. With a focused pipeline targeting NASH and obesity, the company leverages proprietary small-molecule candidates to address significant unmet medical needs. Its strategic emphasis on differentiated mechanisms and liver-targeted delivery positions it competitively within the biopharmaceutical sector.
What This Transaction Means for Investors
Boxer Capital, a California-based investment firm, recently disclosed the purchase of 375,000 shares of Terns Pharmaceuticals. Here’s what investors should know.
First off, Terns stock is up more than 1,000% over the last year. It should go without saying, but this sort of eye-popping gain is exceptional. Nevertheless, retail investors should remember that volatility in the biotech sector is quite common. Indeed, it’s one of the reasons why some investors might want to consider a biotech ETF, rather than individual biotech stocks for their portfolio.
With a biotech ETF, investors spread their risk among many companies within the industry, therefore limiting their exposure to any single company, which could face a dramatic pullback on any negative catalyst, such as poor clinical trial data.
The VanEck Biotech ETF (NYSEMKT: BBH) is one such option. The fund holds over two dozen stocks from the biotech sector and sports an expense ratio of 0.35%.
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Jake Lerch has no position in any of the stocks mentioned. The Motley Fool recommends Kymera Therapeutics. The Motley Fool has a disclosure policy.
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