Based on 7 hedge funds · latest filing: 2026 Q1 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their IMRN positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊
High ownership — 78% of 3.0Y peak
78% of all-time peak
7 funds currently hold this stock — 78% of the 3.0-year high of 9 funds (reached 2025 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
🚀
Fast accumulation — +133% more funds vs a year ago
fund count last 6Q
+4 new funds entered over the past year (+133% 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. The peak was reached in just 4 quarters from the low — a sharp move.
🔴
Heavy selling pressure — only 36% buying
4 buying7 selling
Last quarter: 7 funds sold vs only 4 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~2 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 3 → 2 → 2 → 2. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
43% of holders stayed for 2+ years
■ 43% conviction (2yr+)
■ 14% medium
■ 43% new
3 out of 7 hedge funds have held IMRN 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.
📊
Peak discovery — momentum slowing
2 → 3 → 2 → 2 → 2 new funds/Q
New funds entering each quarter: 3 → 2 → 2 → 2. IMRN is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🏛️
Veteran-anchored — 57% veterans vs 29% newcomers
■ 57% veterans
■ 14% 1-2yr
■ 29% new
Entry-cohort mix of 7 holders: 4 (57%) are 2+ year veterans, 1 entered 1–2 years ago, and 2 (29%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆
Elite ownership — 66% AUM from top-100 funds
66% from top-100 AUM funds
4 of 7 holders are among the 100 largest funds by AUM, controlling 66% of total institutional value in IMRN. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.9
out of 10
Moderate Exit Risk
Exit risk score 4.9/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.