Based on 15 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their MBRX positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🔻
Below peak — only 65% of 2.0Y high
65% of all-time peak
Only 15 funds hold MBRX today versus a peak of 23 funds at 2025 Q3 — just 65% 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.
📉
Outflows — 12% fewer funds vs a year ago
fund count last 6Q
2 fewer hedge funds hold MBRX compared to a year ago (-12% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🔴
Heavy selling pressure — only 19% buying
5 buying22 selling
Last quarter: 22 funds sold vs only 5 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~4 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 6 → 4 → 8 → 4. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄
Mostly new holders — 33% entered in last year
■ 0% conviction (2yr+)
■ 67% medium
■ 33% new
Only 0 funds (0%) 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.
💰
Price up while funds trimmed (-24% value, -88% shares)
Last quarter: total value of institutional MBRX holdings rose -24% even though funds reduced share count by 88%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.
➡️
Steady discovery — ~4 new funds/quarter
3 → 6 → 4 → 8 → 4 new funds/Q
New funds entering each quarter: 6 → 4 → 8 → 4. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊
Mixed cohorts — 0% veterans, 40% new entrants
■ 0% veterans
■ 60% 1-2yr
■ 40% new
Of 15 current holders: 0 (0%) held 2+ years, 9 held 1–2 years, 6 (40%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅
Strong quality — 38% AUM from major funds
38% from top-100 AUM funds
5 of 15 holders rank in the top 100 by AUM, accounting for 38% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.