Based on 21 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their PSTV positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
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High ownership — 81% of 3.0Y peak
81% of all-time peak
21 funds currently hold this stock — 81% of the 3.0-year high of 26 funds (reached 2025 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Fast accumulation — +31% more funds vs a year ago
fund count last 6Q
+5 new funds entered over the past year (+31% 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.
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More sellers than buyers — 43% buying
10 buying13 selling
Last quarter: 13 funds reduced or exited vs 10 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
➡️
Steady new buyers — ~6 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 8 → 13 → 11 → 6. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Buying through price weakness — shares -21%, value -75%
Last quarter: funds added -21% more shares while total portfolio value only changed -75%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
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Peak discovery — momentum slowing
7 → 8 → 13 → 11 → 6 new funds/Q
New funds entering each quarter: 8 → 13 → 11 → 6. PSTV is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
Exit risk score 2.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.