Based on 18 hedge funds · latest filing: 2026 Q2 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their MBRX positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊
High ownership — 75% of 2.5Y peak
75% of all-time peak
18 funds currently hold this stock — 75% of the 2.5-year high of 24 funds (reached 2025 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📉
Outflows — 18% fewer funds vs a year ago
fund count last 6Q
4 fewer hedge funds hold MBRX compared to a year ago (-18% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟢
More buyers than sellers — 67% buying
12 buying6 selling
Last quarter: 12 funds were net buyers (5 opened a brand new position + 7 added to an existing one). Only 6 were sellers (0 trimmed + 6 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~5 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 8 → 4 → 7 → 5. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 33% long-term, 50% new
■ 33% conviction (2yr+)
■ 17% medium
■ 50% new
Of the 18 current holders: 6 (33%) held >2 years, 3 held 1–2 years, and 9 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.
💰
Value +49% but shares only +22% — price-driven
Last quarter: the total dollar value of institutional holdings rose +49%, but actual share count only changed +22%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
➡️
Steady discovery — ~5 new funds/quarter
5 → 8 → 4 → 7 → 5 new funds/Q
New funds entering each quarter: 8 → 4 → 7 → 5. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊
Mixed cohorts — 39% veterans, 39% new entrants
■ 39% veterans
■ 22% 1-2yr
■ 39% new
Of 18 current holders: 7 (39%) held 2+ years, 4 held 1–2 years, 7 (39%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅
Strong quality — 39% AUM from major funds
39% from top-100 AUM funds
7 of 18 holders rank in the top 100 by AUM, accounting for 39% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.0/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.