Based on 44 hedge funds · latest filing: 2026 Q1 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their RNTX positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🏔️
At the ownership peak (98% of max)
98% of all-time peak
44 hedge funds hold RNTX 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 — +22% more funds vs a year ago
fund count last 6Q
+8 new funds entered over the past year (+22% 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.
🟢
More buyers than sellers — 60% buying
24 buying16 selling
Last quarter: 24 funds were net buyers (10 opened a brand new position + 14 added to an existing one). Only 16 were sellers (5 trimmed + 11 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~10 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 4 → 6 → 12 → 10. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 25% long-term, 39% new
■ 25% conviction (2yr+)
■ 36% medium
■ 39% new
Of the 44 current holders: 11 (25%) held >2 years, 16 held 1–2 years, and 17 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.
➡️
Steady discovery — ~10 new funds/quarter
9 → 4 → 6 → 12 → 10 new funds/Q
New funds entering each quarter: 4 → 6 → 12 → 10. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊
Mixed cohorts — 27% veterans, 45% new entrants
■ 27% veterans
■ 27% 1-2yr
■ 45% new
Of 44 current holders: 12 (27%) held 2+ years, 12 held 1–2 years, 20 (45%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
📋
Smaller funds dominant — 5% AUM from top-100
5% from top-100 AUM funds
6 of 44 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.
4.4
out of 10
Moderate Exit Risk
Exit risk score 4.4/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.