Based on 39 hedge funds · latest filing: 2026 Q1 · updated quarterly
📈
Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added GTBP 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
39 hedge funds hold GTBP right now — the highest count in 2.5 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 — +95% more funds vs a year ago
fund count last 6Q
+19 new funds entered over the past year (+95% 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.
🟡
Slight buying edge — 54% buying
21 buying18 selling
Last quarter: 21 funds bought or added vs 18 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.
⚠️
Fewer new buyers each quarter (-8 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 4 → 3 → 22 → 14. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
🔄
Mostly new holders — 69% entered in last year
■ 18% conviction (2yr+)
■ 13% medium
■ 69% new
Only 7 funds (18%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
💎
Buying through price weakness — shares +234%, value +74%
Last quarter: funds added +234% more shares while total portfolio value only changed +74%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📈
Growing discovery — still being found
3 → 4 → 3 → 22 → 14 new funds/Q
New funds entering each quarter: 4 → 3 → 22 → 14. A growing number of institutions are discovering GTBP each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🌱
Early stage — 69% of holders entered in last year
■ 0% veterans
■ 31% 1-2yr
■ 69% new
Of 39 current holders: 27 (69%) entered in the past year, only 0 (0%) are 2+ year veterans. This is an early-phase institutional idea — still being discovered. High upside potential if the thesis plays out, but thin conviction base.
✅
Strong quality — 30% AUM from major funds
30% from top-100 AUM funds
8 of 39 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.
6.5
out of 10
Moderate Exit Risk
Exit risk score 6.5/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.