Fund Discloses $35 Million Biotech Buy Amid Staggering 830% Terns Stock Surge
2026-02-17 12:52:00 ET
First Turn Management, LLC disclosed a new position in Terns Pharmaceuticals (NASDAQ:TERN) in a February 13, 2026, SEC filing, acquiring 872,049 shares in an estimated $35.23 million trade.
According to an SEC filing dated February 13, 2026, First Turn Management, LLC initiated a new position in Terns Pharmaceuticals, acquiring 872,049 shares. At quarter’s end, the fund’s Terns Pharmaceuticals stake was valued at $35.23 million, reflecting the combined effect of new share acquisition and stock price performance.
Terns Pharmaceuticals is a clinical-stage biotechnology company focused on developing innovative therapies for liver and metabolic diseases, particularly NASH and obesity. Its strategy centers on advancing a diversified pipeline of small-molecule drug candidates with differentiated mechanisms and liver-targeted profiles. The company's competitive edge lies in its multi-pronged approach to address high unmet medical needs in metabolic disorders through both single-agent and combination therapies.
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