SCHEDULE 13G/A: Deep Track Capital and Affiliates Disclose 6.39% Stake in Terns Pharmaceuticals
Beneficial Ownership Disclosure
Deep Track Capital, LP, Deep Track Biotechnology Master Fund, Ltd., and David Kroin have filed an amended Schedule 13G, disclosing a shared beneficial ownership of 6.39% of Terns Pharmaceuticals, Inc.'s common stock as of March 31, 2025.
Summary
- Deep Track Capital, LP, Deep Track Biotechnology Master Fund, Ltd., and David Kroin collectively hold 5,576,558 shares of Terns Pharmaceuticals, Inc. common stock.
- This represents 6.39% of the total outstanding common stock of Terns Pharmaceuticals, Inc.
- The beneficial ownership is shared, with no single reporting person holding sole voting or dispositive power over these shares.
- The filing is an Amendment No. 2 to a Schedule 13G, indicating an update to a previously disclosed position.
- The percentage of ownership is calculated based on 87,297,629 common shares outstanding as of March 14, 2025, as reported in Terns Pharmaceuticals' Form 10-K filed on March 20, 2025.
- The reporting persons certify that the securities were not acquired or held for the purpose of changing or influencing the control of the issuer.
Sentiment
Score: 5
Explanation: The document is a factual disclosure of beneficial ownership, carrying a neutral sentiment. It does not contain positive or negative operational or financial news about the issuer.
Risks
- Concentrated ownership: While the filing states no intent to influence control, a significant stake held by a single investment group could potentially influence corporate decisions.
Future Outlook
NA
Industry Context
This filing indicates a significant institutional investment in a biotechnology company, which is common for specialized funds like Deep Track Capital. It reflects continued investor interest in the biotechnology sector.
Stakeholder Impact
- Shareholders: Provides transparency regarding significant institutional ownership, which can influence market perception and liquidity.
Key Dates
| Date | Description |
|---|---|
| 2025-03-14 | Date as of which Terns Pharmaceuticals, Inc.'s common stock outstanding (87,297,629 shares) was determined, according to its Form 10-K. |
| 2025-03-20 | Date Terns Pharmaceuticals, Inc. filed its Form 10-K with the SEC, which reported the number of outstanding shares. |
| 2025-03-31 | Date of event which requires the filing of this statement (beneficial ownership calculation date). |
| 2025-05-15 | Date the Schedule 13G Amendment No. 2 was signed and filed. |
Keywords
Terns Pharmaceuticals, Deep Track Capital, Deep Track Biotechnology Master Fund, David Kroin, Schedule 13G, Beneficial Ownership, Common Stock, SEC Filing, Institutional Ownership, Biotechnology
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.