ORBIMED Advisors Trims $125 Million Terns Stake After a Breakout Year, According to SEC Filing

2026-02-20 00:22:22 ET

According to a SEC filing dated February 17, 2026, ORBIMED Advisors LLC sold 5,409,671 shares of Terns Pharmaceuticals (NASDAQ:TERN) , an estimated $125.01 million transaction based on the average closing price for the quarter ending December 31, 2025. The fund finished the period holding 2,153,300 shares, with the value of its position decreasing by $30.20 million, a figure that accounts for both share sales and price changes.

After this sell, the Terns Pharmaceuticals position represents 1.78% of ORBIMED Advisors LLC’s 13F reportable AUM

Top holdings after the filing:

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