Based on 239 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added PCRX 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.
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High ownership — 92% of 3.0Y peak
92% of all-time peak
239 funds currently hold this stock — 92% of the 3.0-year high of 261 funds (reached 2024 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Steady growth — +9% more funds vs a year ago
fund count last 6Q
+19 new funds entered over the past year (+9% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
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Slight buying edge — 53% buying
130 buying113 selling
Last quarter: 130 funds bought or added vs 113 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
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More new buyers each quarter (+8 vs last Q)
new funds entering per quarter
Funds opening a new PCRX position: 33 → 29 → 37 → 45. 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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66% of holders stayed for 2+ years
■ 66% conviction (2yr+)
■ 18% medium
■ 17% new
157 out of 239 hedge funds have held PCRX 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.
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Growing discovery — still being found
36 → 33 → 29 → 37 → 45 new funds/Q
New funds entering each quarter: 33 → 29 → 37 → 45. A growing number of institutions are discovering PCRX each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Deep conviction — 68% of holders stayed 2+ years
■ 68% veterans
■ 11% 1-2yr
■ 21% new
Of 243 current holders: 165 (68%) 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.
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Elite ownership — 42% AUM from top-100 funds
42% from top-100 AUM funds
36 of 239 holders are among the 100 largest funds by AUM, controlling 42% of total institutional value in PCRX. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
Exit risk score 3.1/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.