The mixed institutional signal and weak insider confluence suggest no strong catalyst is imminent. Monitor for a catalyst (e.g., FDA decision, partnership, or earnings) that could resolve the divergence.
Executive Summary
Institutional activity in Aquestive Therapeutics during Q2 2026 was mixed: 5 buyers added $7.1M in net new positions (led by Nuveen and Wasatch Advisors), while 4 sellers trimmed $5.3M (led by Morgan Stanley and Walleye Capital). The buying was concentrated among active asset managers, but the selling by two large passive/quant funds creates a divergent signal.
Key Financial Metrics
Institutional Positions
Net institutional flow: $1.8M
▲ Buyers (5)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Nuveen | DOUBLED | +379.4% | $5.1M | $4.0M |
| Wasatch Advisors | ADD | +57.8% | $5.8M | $2.1M |
| Pnc Financial Services Group | DOUBLED | +1255270% | $522.0K | $522.0K |
| JPMorgan | ADD | +93.2% | $518.0K | $258.0K |
| Citigroup | DOUBLED | +124.3% | $391.0K | $217.0K |
▼ Sellers (4)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Morgan Stanley | TRIM | -58.6% | $6.6M | -$3.9M |
| Walleye Capital | TRIM | -51.7% | $2.4M | -$1.3M |
| Bank Of Montreal /Can | TRIM | -63.6% | $263.0K | -$166.8K |
| Optiver Holding B.v. | TRIM | -64.6% | $4.0K | -$2.6K |
Key Facts
- 5 institutional buyers added $7.1M in net new positions during Q2 2026
- 4 institutional sellers trimmed $5.3M in holdings
- Nuveen doubled its position (+379%, adding $4.0M) and Wasatch Advisors added 57.8% (+$2.1M)
- Morgan Stanley trimmed 58.6% of its stake, reducing by $3.9M
- No open-market insider buying to corroborate the institutional accumulation
Financial Impact
Net institutional buying of $1.8M ($7.1M bought vs $5.3M sold) across 9 funds
Risk Factors
- 45-day 13F reporting lag means positions may have already been unwound
- No insider buying to confirm institutional thesis
- Divergent signal between active buyers and passive/quant sellers
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| INST-CLUSTER Data (Synthetic) | inst-cluster-AQST-2026-Q2 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 15, 2026 11d ago | 8-K | $4.06 $4.13 | ▲ +1.72% | ▲ +2.74% | — |
Oct 15, 2026 11d ago | Press Release | $4.06 $4.13 | ▲ +1.72% | ▲ +2.74% | — |
Oct 14, 2026 12d ago | 8-K | $4.61 $4.08 | ▼ −11.50% | ▼ −11.95% | — |
Oct 7, 2026 19d ago | SC 13G | $4.62 $4.61 | ▼ −0.22% | ▲ +0.76% | — |
Oct 7, 2026 19d ago | SC 13G/A | $4.62 $4.61 | ▲ +0.22% | ▼ −0.76% | — |
Sep 29, 2026 27d ago | 8-K | $4.67 $4.61 | ▼ −1.28% | ▼ −3.23% | — |
Sep 25, 2026 4w ago | 8-K | $4.68 $4.55 | ▼ −2.78% | ▼ −2.56% | — |
Sep 17, 2026 5w ago | 8-K | $4.66 $4.82 | ▲ +3.43% | ▲ +2.83% | — |
Sep 16, 2026 5w ago | Insider Cluster | $4.82 $4.70 | ▼ −2.49% | ▼ −5.05% | — |
Aug 15, 2026 10w ago | Institutional Cluster | $4.29 $4.80 | ▲ +11.89% | ▲ +13.08% | — |
US Market Status
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