Based on 31 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added BNGO 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.
🔻
Below peak — only 26% of 3.0Y high
26% of all-time peak
Only 31 funds hold BNGO today versus a peak of 119 funds at 2023 Q1 — just 26% of the maximum. Low institutional ownership can mean the stock is out of favor, but it also means there's a large pool of potential buyers if sentiment turns.
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Outflows — 38% fewer funds vs a year ago
fund count last 6Q
19 fewer hedge funds hold BNGO compared to a year ago (-38% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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Slight buying edge — 52% buying
15 buying14 selling
Last quarter: 15 funds bought or added vs 14 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
➡️
Steady new buyers — ~10 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 4 → 6 → 8 → 10. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
71% of holders stayed for 2+ years
■ 71% conviction (2yr+)
■ 19% medium
■ 10% new
22 out of 31 hedge funds have held BNGO 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.
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Buying through price weakness — shares +262%, value +225%
Last quarter: funds added +262% more shares while total portfolio value only changed +225%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~10 new funds/quarter
9 → 4 → 6 → 8 → 10 new funds/Q
New funds entering each quarter: 4 → 6 → 8 → 10. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 77% of holders stayed 2+ years
■ 77% veterans
■ 13% 1-2yr
■ 10% new
Of 31 current holders: 24 (77%) 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 — 21% AUM from major funds
21% from top-100 AUM funds
8 of 31 holders rank in the top 100 by AUM, accounting for 21% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 1.0/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.