Based on 118 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 IMMR 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.
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High ownership — 75% of 3.0Y peak
75% of all-time peak
118 funds currently hold this stock — 75% of the 3.0-year high of 158 funds (reached 2024 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 15% fewer funds vs a year ago
fund count last 6Q
21 fewer hedge funds hold IMMR compared to a year ago (-15% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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Slight buying edge — 58% buying
72 buying52 selling
Last quarter: 72 funds bought or added vs 52 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.
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More new buyers each quarter (+12 vs last Q)
new funds entering per quarter
Funds opening a new IMMR position: 27 → 14 → 12 → 24. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
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61% of holders stayed for 2+ years
■ 61% conviction (2yr+)
■ 21% medium
■ 18% new
72 out of 118 hedge funds have held IMMR 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 -5%, value -23%
Last quarter: funds added -5% more shares while total portfolio value only changed -23%. 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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Steady discovery — ~24 new funds/quarter
15 → 27 → 14 → 12 → 24 new funds/Q
New funds entering each quarter: 27 → 14 → 12 → 24. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Veteran-anchored — 69% veterans vs 19% newcomers
■ 69% veterans
■ 12% 1-2yr
■ 19% new
Entry-cohort mix of 124 holders: 86 (69%) are 2+ year veterans, 15 entered 1–2 years ago, and 23 (19%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Strong quality — 37% AUM from major funds
37% from top-100 AUM funds
36 of 117 holders rank in the top 100 by AUM, accounting for 37% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 2.2/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.