Based on 19 hedge funds · latest filing: 2026 Q2 · updated quarterly
📈
Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added BFRI 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
19 hedge funds hold BFRI 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.
🚀
Fast accumulation — +73% more funds vs a year ago
fund count last 6Q
+8 new funds entered over the past year (+73% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
🟢
More buyers than sellers — 76% buying
13 buying4 selling
Last quarter: 13 funds were net buyers (9 opened a brand new position + 4 added to an existing one). Only 4 were sellers (2 trimmed + 2 sold completely). A clear majority buying is a strong confirmation signal.
📈
More new buyers each quarter (+7 vs last Q)
new funds entering per quarter
Funds opening a new BFRI position: 5 → 3 → 2 → 9. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
📌
Mixed — 26% long-term, 42% new
■ 26% conviction (2yr+)
■ 32% medium
■ 42% new
Of the 19 current holders: 5 (26%) held >2 years, 6 held 1–2 years, and 8 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
💰
Value +34% but shares only +15% — price-driven
Last quarter: the total dollar value of institutional holdings rose +34%, but actual share count only changed +15%. 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.
➡️
Steady discovery — ~9 new funds/quarter
3 → 5 → 3 → 2 → 9 new funds/Q
New funds entering each quarter: 5 → 3 → 2 → 9. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 58% veterans vs 32% newcomers
■ 58% veterans
■ 11% 1-2yr
■ 32% new
Entry-cohort mix of 19 holders: 11 (58%) are 2+ year veterans, 2 entered 1–2 years ago, and 6 (32%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
📋
Smaller funds dominant — 9% AUM from top-100
9% from top-100 AUM funds
6 of 19 holders rank in the top 100 by AUM, but together hold only 9% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
4.5
out of 10
Moderate Exit Risk
Exit risk score 4.5/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.