Superstring Capital Management Trims Terns Pharmaceuticals Stake, Still Bullish on Biotech Firm

Superstring Capital Management sold 345,869 shares of Terns Pharmaceuticals for an estimated $7.99 million in the fourth quarter, reducing its position by 345,869 shares. Despite the sale, Terns remains one of the largest holdings in Superstring's portfolio, indicating no loss of conviction. The biotech firm's underlying story is still compelling, with a lead program for chronic myeloid leukemia showing strong early efficacy and a slate of catalysts expected this year.