Based on 13 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 4 quarters in a row
For 4 consecutive quarters, more hedge funds reduced or closed their OGEN 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 68% of 3.0Y high
68% of all-time peak
Only 13 funds hold OGEN today versus a peak of 19 funds at 2024 Q4 — just 68% 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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Outflows — 32% fewer funds vs a year ago
fund count last 6Q
6 fewer hedge funds hold OGEN compared to a year ago (-32% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟢
More buyers than sellers — 69% buying
9 buying4 selling
Last quarter: 9 funds were net buyers (3 opened a brand new position + 6 added to an existing one). Only 4 were sellers (0 trimmed + 4 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~3 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 2 → 7 → 5 → 3. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄
Mostly new holders — 46% entered in last year
■ 23% conviction (2yr+)
■ 31% medium
■ 46% new
Only 3 funds (23%) 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 +76%, value -37%
Last quarter: funds added +76% more shares while total portfolio value only changed -37%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~3 new funds/quarter
7 → 2 → 7 → 5 → 3 new funds/Q
New funds entering each quarter: 2 → 7 → 5 → 3. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊
Mixed cohorts — 38% veterans, 46% new entrants
■ 38% veterans
■ 15% 1-2yr
■ 46% new
Of 13 current holders: 5 (38%) held 2+ years, 2 held 1–2 years, 6 (46%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
📋
Smaller funds dominant — 0% AUM from top-100
0% from top-100 AUM funds
5 of 13 holders rank in the top 100 by AUM, but together hold only 0% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 2.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.