Based on 33 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added IFRX 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.
📊
High ownership — 79% of 3.0Y peak
79% of all-time peak
33 funds currently hold this stock — 79% of the 3.0-year high of 42 funds (reached 2023 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📶
Steady growth — +14% more funds vs a year ago
fund count last 6Q
+4 new funds entered over the past year (+14% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction. The peak was reached in just 2 quarters from the low — a sharp move.
🟢
More buyers than sellers — 67% buying
24 buying12 selling
Last quarter: 24 funds were net buyers (12 opened a brand new position + 12 added to an existing one). Only 12 were sellers (6 trimmed + 6 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~12 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 11 → 10 → 7 → 12. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
52% of holders stayed for 2+ years
■ 52% conviction (2yr+)
■ 21% medium
■ 27% new
17 out of 33 hedge funds have held IFRX 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.
💎
Buying through price weakness — shares +5%, value -21%
Last quarter: funds added +5% more shares while total portfolio value only changed -21%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~12 new funds/quarter
8 → 11 → 10 → 7 → 12 new funds/Q
New funds entering each quarter: 11 → 10 → 7 → 12. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 72% of holders stayed 2+ years
■ 72% veterans
■ 0% 1-2yr
■ 28% new
Of 36 current holders: 26 (72%) 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.
📋
Smaller funds dominant — 19% AUM from top-100
19% from top-100 AUM funds
5 of 33 holders rank in the top 100 by AUM, but together hold only 19% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 2.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.