Based on 20 hedge funds · latest filing: 2026 Q2 · updated quarterly
📈
Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added BIAF 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.
🏔️
At the ownership peak (100% of max)
100% of all-time peak
20 hedge funds hold BIAF right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
📶
Steady growth — +18% more funds vs a year ago
fund count last 6Q
+3 new funds entered over the past year (+18% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction. The peak was reached in just 2 quarters from the low — a sharp move.
🟢
More buyers than sellers — 74% buying
14 buying5 selling
Last quarter: 14 funds were net buyers (10 opened a brand new position + 4 added to an existing one). Only 5 were sellers (1 trimmed + 4 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~10 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 4 → 4 → 8 → 10. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 35% long-term, 65% new
■ 35% conviction (2yr+)
■ 0% medium
■ 65% new
Of the 20 current holders: 7 (35%) held >2 years, 0 held 1–2 years, and 13 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
💎
Buying through price weakness — shares +233%, value -17%
Last quarter: funds added +233% more shares while total portfolio value only changed -17%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~10 new funds/quarter
6 → 4 → 4 → 8 → 10 new funds/Q
New funds entering each quarter: 4 → 4 → 8 → 10. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🌱
Early stage — 55% of holders entered in last year
■ 40% veterans
■ 5% 1-2yr
■ 55% new
Of 20 current holders: 11 (55%) entered in the past year, only 8 (40%) are 2+ year veterans. This is an early-phase institutional idea — still being discovered. High upside potential if the thesis plays out, but thin conviction base.
✅
Strong quality — 21% AUM from major funds
21% from top-100 AUM funds
7 of 20 holders rank in the top 100 by AUM, accounting for 21% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
5.3
out of 10
Moderate Exit Risk
Exit risk score 5.3/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.