Based on 204 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added AXGN than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
🏔️
At the ownership peak (100% of max)
100% of all-time peak
204 hedge funds hold AXGN right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
📶
Steady growth — +19% more funds vs a year ago
fund count last 6Q
+32 new funds entered over the past year (+19% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟢
More buyers than sellers — 60% buying
122 buying83 selling
Last quarter: 122 funds were net buyers (53 opened a brand new position + 69 added to an existing one). Only 83 were sellers (66 trimmed + 17 sold completely). A clear majority buying is a strong confirmation signal.
📈
More new buyers each quarter (+19 vs last Q)
new funds entering per quarter
Funds opening a new AXGN position: 28 → 16 → 34 → 53. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒
57% of holders stayed for 2+ years
■ 57% conviction (2yr+)
■ 18% medium
■ 25% new
117 out of 204 hedge funds have held AXGN for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
💰
Value +90% but shares only +4% — price-driven
Last quarter: the total dollar value of institutional holdings rose +90%, but actual share count only changed +4%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
🚀
Acceleration phase — new buyers rushing in
35 → 28 → 16 → 34 → 53 new funds/Q
New funds entering each quarter: 28 → 16 → 34 → 53. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.
🏛️
Deep conviction — 64% of holders stayed 2+ years
■ 64% veterans
■ 9% 1-2yr
■ 26% new
Of 208 current holders: 134 (64%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
✅
Strong quality — 30% AUM from major funds
30% from top-100 AUM funds
32 of 204 holders rank in the top 100 by AUM, accounting for 30% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.