Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Spruce Biosciences Inc (SPRB)

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

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +33
Streak
1Q ▲
Buyers last Q
87%

Smart Money Signals — SPRB

Based on 63 hedge funds · latest filing: 2026 Q2 · updated quarterly

📈

Buying streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, more hedge funds added SPRB 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.
🏔️

At the ownership peak (100% of max)

100% of all-time peak
63 hedge funds hold SPRB 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 — +2000% more funds vs a year ago

fund count last 6Q
+60 new funds entered over the past year (+2000% 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. The peak was reached in just 4 quarters from the low — a sharp move.
🟢

More buyers than sellers — 87% buying

52 buying8 selling
Last quarter: 52 funds were net buyers (38 opened a brand new position + 14 added to an existing one). Only 8 were sellers (3 trimmed + 5 sold completely). A clear majority buying is a strong confirmation signal.
📈

More new buyers each quarter (+30 vs last Q)

new funds entering per quarter
Funds opening a new SPRB position: 7 → 25 → 8 → 38. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
📌

Mixed — 32% long-term, 41% new

■ 32% conviction (2yr+) ■ 27% medium ■ 41% new
Of the 63 current holders: 20 (32%) held >2 years, 17 held 1–2 years, and 26 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 +194%, value +148%

Value
+148%
Shares
+194%
Last quarter: funds added +194% more shares while total portfolio value only changed +148%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📈

Growing discovery — still being found

0 → 7 → 25 → 8 → 38 new funds/Q
New funds entering each quarter: 7 → 25 → 8 → 38. A growing number of institutions are discovering SPRB each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️

Veteran-anchored — 54% veterans vs 40% newcomers

■ 54% veterans ■ 6% 1-2yr ■ 40% new
Entry-cohort mix of 63 holders: 34 (54%) are 2+ year veterans, 4 entered 1–2 years ago, and 25 (40%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅

Strong quality — 31% AUM from major funds

31% from top-100 AUM funds
25 of 63 holders rank in the top 100 by AUM, accounting for 31% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
6.0
out of 10
Moderate Exit Risk
Exit risk score 6.0/10 — 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.

Institutional Sentiment Summary — SPRB

In 2026 Q2, 52 hedge funds were net buyers of SPRB (38 opened a new position, 14 added to an existing one), while 8 reduced or exited (3 trimmed, 5 sold completely) — a 87% buyer ratio, indicating clear institutional accumulation. 31% of total institutional value in SPRB is held by top-100 AUM funds, reflecting strong institutional quality. Net fund flow last quarter: +33 funds (more new holders than closures). Total institutional holders: 63.

Hedge Fund Ownership: SPRB

How many hedge funds hold SPRB — quarterly history vs. share price
Quarterly hedge fund ownership of SPRB vs. share price

Market Analysis: SPRB

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: SPRB

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Loading signal freshness…
Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

6 top-rated funds 0 high-conviction
Consensus
3.7
/ 10
breadth
×
Elite
0.8
/ 10
conviction
Hedge Fund Positioning: SPRB
63 + Investors

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

Metric All 13F Filers (2026 Q2) Prior (2026 Q1) Change
Funds Holding 63 30 110.0%
13F Shares 2M 730K 194.34%
Total Value $116M $47M 148.21%
New Positions 38 8 +30
Increased Positions 14 6 +8
Closed Positions 5 10 -5
Reduced Positions 3 6 -3
Total Calls 0 0 -
Total Puts 0 0 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: SPRB

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Financial Highlights

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Institutional Holders (2026 Q2)

63 + 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:
Top 25 SPRB holders by conviction (% of portfolio weight) — 2026 Q2 · 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?

Buying streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds added SPRB 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.

What is the institutional breadth score for SPRB?

More buyers than sellers — 87% buying: Last quarter: 52 funds were net buyers (38 opened a brand new position + 14 added to an existing one). Only 8 were sellers (3 trimmed + 5 sold completely). A clear majority buying is a strong confirmation signal.

What is the fund quality score for SPRB holders?

Strong quality — 31% AUM from major funds: 25 of 63 holders rank in the top 100 by AUM, accounting for 31% 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 — 32% long-term, 41% new: Of the 63 current holders: 20 (32%) held >2 years, 17 held 1–2 years, and 26 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.

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.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

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