Morgan Stanley Exits Position in Terns Pharmaceuticals, Inc. (TERN)

Morgan Stanley has filed a Schedule 13G/A with the SEC, dated June 5, 2026, reporting that it has completely exited its position in Terns Pharmaceuticals, Inc. (TERN). This amendment indicates that as of May 31, 2026, the financial institution no longer holds any shares of common stock, down from a previous holding of 6,449,140 shares. Consequently, Morgan Stanley's ownership percentage has dropped to 0.0%, falling below the 5% reporting threshold. The filing confirms that the securities were previously held in the ordinary course of business and not for the purpose of influencing or changing the control of the issuer. This 'zero out' filing follows a previous position where Morgan Stanley was a significant institutional investor in the Foster City-based pharmaceutical company. The transaction marks a total divestment by the reporting units of Morgan Stanley and its subsidiaries.