Spruce Biosciences Inc (SPRB) Hedge Fund Ownership (Q1 2026)

Q: Is it too late to buy Spruce Biosciences Inc (SPRB) following the 2026 Q2 hedge fund 13F filings?

As of today, SPRB has moved +0.0% since the 2026 Q2 13F filing date (August 14, 2026), compared to +0.0% for the XLV sector ETF — an outperformance of +0.0%. Since the quarter end (June 30, 2026), SPRB gained -2.5% vs +5.5% for XLV. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Spruce Biosciences Inc (SPRB)

30 + Investors. Track Smart Money conviction in SPRB. See who's accumulating, reducing, or initiating positions.

Smart Money Signals — SPRB

Based on 30 hedge funds · latest filing: 2026 Q1 · updated quarterly

📉

Selling streak — 1 quarter in a row

last 6Q

For 1 consecutive quarter, more hedge funds reduced or closed their SPRB positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

🔻

Below peak — only 61% of 3.0Y high

61% of all-time peak

Only 30 funds hold SPRB today versus a peak of 49 funds at 2024 Q1 — just 61% 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.

〰️

Stable — ownership unchanged year-over-year

fund count last 6Q

The number of hedge funds holding SPRB is almost the same as a year ago (+0 funds, +0% change). No significant rush to buy or sell — institutional backing is holding steady.

🟠

More sellers than buyers — 47% buying

14 buying16 selling

Last quarter: 16 funds reduced or exited vs 14 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.

⚠️

Fewer new buyers each quarter (-17 vs last Q)

new funds entering per quarter

Funds opening this position for the first time: 0 → 7 → 25 → 8. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.

📌

Mixed — 37% long-term, 40% new

■ 37% conviction (2yr+) ■ 23% medium ■ 40% new

Of the 30 current holders: 11 (37%) held >2 years, 7 held 1–2 years, and 12 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.

💎

Buying through price weakness — shares -3%, value -29%

Value

-28%

-3%

Last quarter: funds added -3% more shares while total portfolio value only changed -29%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.

➡️

Steady discovery — ~8 new funds/quarter

5 → 0 → 7 → 25 → 8 new funds/Q

New funds entering each quarter: 0 → 7 → 25 → 8. Consistent flow of new institutional buyers without clear acceleration or slowdown.

🏛️

Veteran-anchored — 40% veterans vs 37% newcomers

■ 40% veterans ■ 23% 1-2yr ■ 37% new

Entry-cohort mix of 30 holders: 12 (40%) are 2+ year veterans, 7 entered 1–2 years ago, and 11 (37%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.

✅

Strong quality — 39% AUM from major funds

39% from top-100 AUM funds

11 of 30 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.

4.2

out of 10

Moderate Exit Risk

Exit risk score 4.2/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Metric	All 13F Filers (2026 Q1)	Prior (2025 Q4)	Change
Funds Holding	30	32	-6.25%
13F Shares	730K	754K	-3.13%
Total Value	$47M	$66M	-28.71%
New Positions	8	25	-17
Increased Positions	6	4	+2
Closed Positions	10	2	+8
Reduced Positions	6	1	+5
Total Calls	0	0	-
Total Puts	0	0	-
PUT/CALL Ratio	0.0	0.0	Bullish

Metric

All 13F Filers (2026 Q1)

Prior (2025 Q4)

Change

Funds Holding

-6.25%

13F Shares

730K

754K

-3.13%

Total Value

$47M

$66M

-28.71%

New Positions

-17

Increased Positions

Closed Positions

Reduced Positions

Total Calls

Total Puts

PUT/CALL Ratio

0.0

Bullish

Institutional Holders (2026 Q2)

30 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in SPRB. Verified SEC 13F-HR filings.

QUARTER:

2026 Q2 filings are still coming in. Only funds that have filed so far are shown — top holders may not have reported yet. Full 13F data typically settles by ~50 days after quarter-end.

FILTER:All New Added To Reduced No Change | Overweight >5%

Top 25 SPRB holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
#	Investor	% of Portfolio	Shares	Mkt Value
1	AIGH Capital Management LLC	0.85%	250,000	$13.5M
2	Stonepine Capital Management, LLC	0.73%	28,795	$1.6M
3	Ikarian Capital, LLC	0.71%	121,356	$6.6M
4	AWM Investment Company, Inc.	0.69%	146,988	$7.9M
5	Knott David M Jr	0.57%	20,000	$1.1M
6	Rosalind Advisors, Inc.	0.40%	20,000	$1.1M
7	Stempoint Capital LP	0.38%	41,388	$2.2M
8	Lion Point Capital, LP	0.26%	1,000	$54K
9	Diadema Partners LP	0.20%	30,000	$1.6M
10	Orbimed Advisors LLC	0.20%	200,000	$10.8M
11	ADAR1 Capital Management, LLC	0.17%	67,717	$3.7M
12	Persistent Asset Partners Ltd	0.12%	7,677	$415K
13	Eversept Partners, LP	0.11%	40,000	$2.2M
14	Affinity Asset Advisors, LLC	0.07%	30,000	$1.6M
15	Cable Car Capital, LP	0.07%	60,000	$3.2M
16	Quinn Opportunity Partners LLC	0.07%	26,810	$1.4M
17	Boothbay Fund Management, LLC	0.03%	42,080	$2.3M
18	Carlyle Group Inc.	0.02%	38,620	$2.1M
19	Pale Fire Capital SE	0.01%	3,818	$206K
20	Alyeska Investment Group, L.P.	0.01%	81,671	$4.4M
21	ExodusPoint Capital Management, LP	0.01%	22,000	$1.2M
22	Millennium Management LLC	0.00%	160,981	$8.7M
23	Point72 Asset Management, L.P.	0.00%	28,278	$1.5M
24	Balyasny Asset Management L.P.	0.00%	12,138	$655K
25	State Board of Administration of Florida Retirement System	0.00%	7,182	$388K

Investor	Ownership History	% of Portfolio	Prev %	Rank	Conviction	Avg Buy Price	13F Score™ 3Y / 7Y	Sell Timing	Shares	Mkt Value	Change	Change %	Source	Quarter	Filed

Frequently Asked Questions — Spruce Biosciences Inc (SPRB)

What does the Smart Money Trend signal show for SPRB?

Selling streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds reduced or closed their SPRB positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for SPRB?

More sellers than buyers — 47% buying: Last quarter: 16 funds reduced or exited vs 14 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.

What is the fund quality score for SPRB holders?

Strong quality — 39% AUM from major funds: 11 of 30 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.

How long have hedge funds held SPRB?

Mixed — 37% long-term, 40% new: Of the 30 current holders: 11 (37%) held >2 years, 7 held 1–2 years, and 12 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.

Is it too late to buy Spruce Biosciences Inc (SPRB) following the 2026 Q2 hedge fund 13F filings?

As of today, SPRB has moved +0.0% since the 2026 Q2 13F filing date (August 14, 2026), compared to +0.0% for the XLV sector ETF — an outperformance of +0.0%. Since the quarter end (June 30, 2026), SPRB has gained -2.5% vs +5.5% for XLV. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Market Cap	--
Enterprise Value	--
Trailing P/E	--
Forward P/E	--
PEG Ratio (5yr expected)	--
Price/Sales (ttm)	--
Price/Book (mrq)	--
Enterprise Value/Revenue	--
Enterprise Value/EBITDA	--
Beta (5Y Monthly)	--
Short Ratio (Days to Cover)	--
Short % of Float	--

Profit Margin	--
Return on Assets (ttm)	--
Return on Equity (ttm)	--

Revenue (ttm)	--
Net Income Avi to Common (ttm)	--
Diluted EPS (ttm)	--
Total Cash (mrq)	--
Total Debt/Equity (mrq)	--
Levered Free Cash Flow (ttm)	--

Spruce Biosciences Inc (SPRB)

Smart Money Signals — SPRB

Selling streak — 1 quarter in a row

Below peak — only 61% of 3.0Y high

Stable — ownership unchanged year-over-year

More sellers than buyers — 47% buying

Fewer new buyers each quarter (-17 vs last Q)

Mixed — 37% long-term, 40% new

Buying through price weakness — shares -3%, value -29%

Steady discovery — ~8 new funds/quarter

Veteran-anchored — 40% veterans vs 37% newcomers

Strong quality — 39% AUM from major funds

Institutional Sentiment Summary — SPRB

Hedge Fund Ownership: SPRB

Market Analysis: SPRB

Analyst Price Targets

Analyst Recommendations

Stock Performance

Company Profile: SPRB

Is It Too Late to Buy Spruce Biosciences Inc (SPRB) Based on Hedge Fund 13F Filings?

Hedge Fund Positioning: SPRB

Statistics: SPRB

Valuation Measures Data as of: --

Financial Highlights

Institutional Holders (2026 Q2)

Frequently Asked Questions — Spruce Biosciences Inc (SPRB)

Welcome to 13Foresight!