Based on 12 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Selling streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds reduced or closed their EVGN 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 — 71% of 2.0Y peak
71% of all-time peak
12 funds currently hold this stock — 71% of the 2.0-year high of 17 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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Outflows — 20% fewer funds vs a year ago
fund count last 6Q
3 fewer hedge funds hold EVGN compared to a year ago (-20% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🔴
Heavy selling pressure — only 36% buying
5 buying9 selling
Last quarter: 9 funds sold vs only 5 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~3 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 1 → 5 → 2 → 3. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mostly new holders — 33% entered in last year
■ 0% conviction (2yr+)
■ 67% medium
■ 33% new
Only 0 funds (0%) 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.
💎
Buying through price weakness — shares -47%, value -71%
Last quarter: funds added -47% more shares while total portfolio value only changed -71%. 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
4 → 1 → 5 → 2 → 3 new funds/Q
New funds entering each quarter: 1 → 5 → 2 → 3. EVGN is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
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Mixed cohorts — 0% veterans, 33% new entrants
■ 0% veterans
■ 67% 1-2yr
■ 33% new
Of 12 current holders: 0 (0%) held 2+ years, 8 held 1–2 years, 4 (33%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅
Strong quality — 23% AUM from major funds
23% from top-100 AUM funds
4 of 12 holders rank in the top 100 by AUM, accounting for 23% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.1/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.