Based on 30 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added VNRX 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.
📊
High ownership — 94% of 3.0Y peak
94% of all-time peak
30 funds currently hold this stock — 94% of the 3.0-year high of 32 funds (reached 2025 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
🚀
Fast accumulation — +25% more funds vs a year ago
fund count last 6Q
+6 new funds entered over the past year (+25% 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.
🟢
More buyers than sellers — 69% buying
22 buying10 selling
Last quarter: 22 funds were net buyers (11 opened a brand new position + 11 added to an existing one). Only 10 were sellers (1 trimmed + 9 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~11 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 9 → 7 → 6 → 11. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
47% of holders stayed for 2+ years
■ 47% conviction (2yr+)
■ 20% medium
■ 33% new
14 out of 30 hedge funds have held VNRX 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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Buying through price weakness — shares +39%, value +10%
Last quarter: funds added +39% more shares while total portfolio value only changed +10%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~11 new funds/quarter
4 → 9 → 7 → 6 → 11 new funds/Q
New funds entering each quarter: 9 → 7 → 6 → 11. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 50% veterans vs 43% newcomers
■ 50% veterans
■ 7% 1-2yr
■ 43% new
Entry-cohort mix of 30 holders: 15 (50%) are 2+ year veterans, 2 entered 1–2 years ago, and 13 (43%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Smaller funds dominant — 11% AUM from top-100
11% from top-100 AUM funds
10 of 30 holders rank in the top 100 by AUM, but together hold only 11% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 3.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.