SCHEDULE 13G/A: Citadel Entities and Kenneth Griffin Disclose 4.1% Passive Stake in Terns Pharmaceuticals
Beneficial Ownership Report
Citadel Advisors, Citadel Securities, and Kenneth Griffin have filed an amended Schedule 13G, reporting a combined passive beneficial ownership of 4.1% in Terns Pharmaceuticals, Inc. as of December 31, 2024.
Summary
- Citadel Advisors LLC, Citadel Advisors Holdings LP, Citadel GP LLC, Citadel Securities LLC, Citadel Securities Group LP, Citadel Securities GP LLC, and Kenneth Griffin (collectively, the "Reporting Persons") have filed an Amendment No. 1 to Schedule 13G.
- The filing reports their beneficial ownership in Terns Pharmaceuticals, Inc. (CUSIP: 880881107), a company with 84,938,855 shares outstanding as of November 8, 2024.
- As of December 31, 2024, Kenneth Griffin, who controls the other reporting entities, beneficially owns an aggregate of 3,465,307 shares of Terns Pharmaceuticals, Inc.
- This aggregate ownership represents 4.1% of the outstanding shares of Terns Pharmaceuticals, Inc.
- The Reporting Persons have shared voting and shared dispositive power over these shares, with no sole voting or dispositive power.
- The shares were not acquired and are not held for the purpose of changing or influencing the control of the issuer, indicating a passive investment.
Sentiment
Score: 5
Explanation: The document is a routine beneficial ownership disclosure (Schedule 13G) and does not contain information that would inherently convey positive or negative sentiment regarding the issuer's performance or prospects. It merely reports a passive ownership stake.
Future Outlook
NA
Industry Context
NA
Stakeholder Impact
- Shareholders: Provides transparency regarding a significant passive ownership stake held by Citadel entities and Kenneth Griffin, which can inform investment decisions.
Key Dates
| Date | Description |
|---|---|
| 11/08/2024 | Date as of which 84,938,855 shares of Terns Pharmaceuticals were outstanding, according to the issuer's Form 10-Q. |
| 11/12/2024 | Date Terns Pharmaceuticals' Form 10-Q was filed with the Securities and Exchange Commission. |
| 12/31/2024 | Date of the event which requires the filing of this statement (reporting period end). |
| 02/14/2025 | Date the Schedule 13G Amendment No. 1 was signed and filed. |
Keywords
Terns Pharmaceuticals, Citadel, Kenneth Griffin, Schedule 13G, Beneficial Ownership, SEC Filing, Common Stock, Investment, Pharmaceutical, Biotech
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