Based on 106 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 MGNX 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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Below peak — only 67% of 3.0Y high
67% of all-time peak
Only 106 funds hold MGNX today versus a peak of 159 funds at 2024 Q1 — just 67% of the maximum. Low institutional ownership can mean the stock is out of favor, but it also means there's a large pool of potential buyers if sentiment turns.
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Outflows — 15% fewer funds vs a year ago
fund count last 6Q
19 fewer hedge funds hold MGNX 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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More buyers than sellers — 61% buying
59 buying38 selling
Last quarter: 59 funds were net buyers (30 opened a brand new position + 29 added to an existing one). Only 38 were sellers (29 trimmed + 9 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+17 vs last Q)
new funds entering per quarter
Funds opening a new MGNX position: 26 → 18 → 13 → 30. 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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60% of holders stayed for 2+ years
■ 60% conviction (2yr+)
■ 16% medium
■ 24% new
64 out of 106 hedge funds have held MGNX 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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Value +59% but shares only +11% — price-driven
Last quarter: the total dollar value of institutional holdings rose +59%, but actual share count only changed +11%. 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.
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Steady discovery — ~30 new funds/quarter
19 → 26 → 18 → 13 → 30 new funds/Q
New funds entering each quarter: 26 → 18 → 13 → 30. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Veteran-anchored — 70% veterans vs 18% newcomers
■ 70% veterans
■ 12% 1-2yr
■ 18% new
Entry-cohort mix of 111 holders: 78 (70%) are 2+ year veterans, 13 entered 1–2 years ago, and 20 (18%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅
Strong quality — 27% AUM from major funds
27% from top-100 AUM funds
28 of 106 holders rank in the top 100 by AUM, accounting for 27% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 1.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.