Based on 47 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Selling streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds reduced or closed their TVGN positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊
High ownership — 85% of 3.0Y peak
85% of all-time peak
47 funds currently hold this stock — 85% of the 3.0-year high of 55 funds (reached 2025 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📶
Steady growth — +12% more funds vs a year ago
fund count last 6Q
+5 new funds entered over the past year (+12% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟢
More buyers than sellers — 61% buying
30 buying19 selling
Last quarter: 30 funds were net buyers (7 opened a brand new position + 23 added to an existing one). Only 19 were sellers (8 trimmed + 11 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~7 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 9 → 10 → 3 → 7. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
💎
Buying through price weakness — shares +5%, value -56%
Last quarter: funds added +5% more shares while total portfolio value only changed -56%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
⚠️
Saturation — most institutions already know this story
14 → 9 → 10 → 3 → 7 new funds/Q
New funds entering each quarter: 9 → 10 → 3 → 7. Far fewer institutions are entering now vs. a year ago. When the pool of potential new buyers shrinks this fast, future price support from institutional inflows weakens significantly.
Exit risk score 2.3/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.