Based on 53 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 INOV 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 28% of 3.0Y high
28% of all-time peak
Only 53 funds hold INOV today versus a peak of 187 funds at 2021 Q3 — just 28% 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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Fast accumulation — +212% more funds vs a year ago
fund count last 6Q
+36 new funds entered over the past year (+212% 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 — 90% buying
46 buying5 selling
Last quarter: 46 funds were net buyers (35 opened a brand new position + 11 added to an existing one). Only 5 were sellers (4 trimmed + 1 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+33 vs last Q)
new funds entering per quarter
Funds opening a new INOV position: 6 → 4 → 2 → 35. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
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Mostly new holders — 55% entered in last year
■ 11% conviction (2yr+)
■ 34% medium
■ 55% new
Only 6 funds (11%) 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.
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Acceleration phase — new buyers rushing in
11 → 6 → 4 → 2 → 35 new funds/Q
New funds entering each quarter: 6 → 4 → 2 → 35. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.
🌱
Early stage — 70% of holders entered in last year
■ 23% veterans
■ 8% 1-2yr
■ 70% new
Of 53 current holders: 37 (70%) entered in the past year, only 12 (23%) 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.
📋
Smaller funds dominant — 8% AUM from top-100
8% from top-100 AUM funds
3 of 53 holders rank in the top 100 by AUM, but together hold only 8% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 3.1/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.