Based on 19 hedge funds · latest filing: 2026 Q2 · updated quarterly
📈
Buying streak — 3 quarters in a row
For 3 consecutive quarters, more hedge funds added EVAX 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
19 hedge funds hold EVAX 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.
🚀
Fast accumulation — +138% more funds vs a year ago
fund count last 6Q
+11 new funds entered over the past year (+138% 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.
🟡
Slight buying edge — 50% buying
6 buying6 selling
Last quarter: 6 funds bought or added vs 6 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.
➡️
Steady new buyers — ~4 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 0 → 6 → 6 → 4. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mostly new holders — 53% entered in last year
■ 16% conviction (2yr+)
■ 32% medium
■ 53% new
Only 3 funds (16%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
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Buying through price weakness — shares +3%, value -14%
Last quarter: funds added +3% more shares while total portfolio value only changed -14%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~4 new funds/quarter
0 → 0 → 6 → 6 → 4 new funds/Q
New funds entering each quarter: 0 → 6 → 6 → 4. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Mixed cohorts — 21% veterans, 47% new entrants
■ 21% veterans
■ 32% 1-2yr
■ 47% new
Of 19 current holders: 4 (21%) held 2+ years, 6 held 1–2 years, 9 (47%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Smaller funds dominant — 5% AUM from top-100
5% from top-100 AUM funds
4 of 19 holders rank in the top 100 by AUM, but together hold only 5% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
6.1
out of 10
Moderate Exit Risk
Exit risk score 6.1/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.