The institutional cluster for FDMT is directionless, with Point72's full exit versus Adage and Nuveen's large additions.
Executive Summary
The 2026-Q1 institutional cluster for FDMT shows a near-balanced mix of 8 buyers ($32.1M aggregate holdings, +$15.9M added) and 7 sellers (−$15.3M reduced), with Point72's full $11.5M exit countered by Adage Capital's $5.7M add and Nuveen's $4.0M doubling.
Key Financial Metrics
Institutional Positions
Net institutional flow: $571.5K
▲ Buyers (8)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Adage Capital Partners | ADD | +30% | $14.9M | $5.7M |
| Nuveen | DOUBLED | +253.9% | $5.2M | $4.0M |
| Dimensional Fund Advisors | ADD | +77.3% | $4.9M | $2.7M |
| Invesco | DOUBLED | +102.9% | $2.9M | $1.7M |
▼ Sellers (7)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Point72 | EXIT | -100% | $11.5M | -$11.5M |
| Morgan Stanley | TRIM | -48.7% | $5.0M | -$1.8M |
| Assenagon Asset Management | TRIM | -71.9% | $2.2M | -$1.4M |
Key Facts
- 8 buyers (Invesco, Dimensional, Nuveen, Commonwealth, Adage Capital, Nisa, Los Angeles Capital, JPMorgan) added $15.9M aggregate.
- 7 sellers (Morgan Stanley, Point72, PNC, Marshall Wace, Assenagon, Exoduspoint, UBS) reduced $15.3M aggregate.
- Point72 exited its entire $11.5M position — the largest single move.
- Adage Capital added $5.7M, becoming the largest buyer at $14.9M current holding.
- Nuveen doubled its stake (+253.9% shares) to $5.2M.
- Net dollar change across all positions was approximately +$0.57M — essentially flat.
- Recent 30-day insider activity shows 3 sells totaling $1.4M (no open-market insider buys).
Financial Impact
Total institutional buying aggregated $15.9M and selling aggregated $15.3M, resulting in a net inflow of $0.6M over the quarter — negligible relative to the $680M market cap.
Risk Factors
- Point72's quant-driven exit could signal a negative catalyst that active buyers are overlooking.
- Recent insider selling ($1.4M in 30 days) adds caution.
- Biotech sector volatility and binary trial outcomes pose asymmetric downside risk.
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-FDMT-2026-Q1 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 22, 2026 4w ago | Insider Cluster | $15.00 $14.71 | ▲ +1.93% | ▲ +1.85% | — |
Aug 21, 2026 9w ago | Insider Cluster | $15.39 $15.72 | ▲ +2.14% | ▲ +1.82% | — |
Jul 20, 2026 14w ago | 8-K | $11.09 $11.38 | ▲ +2.57% | ▲ +1.74% | — |
Jul 18, 2026 14w ago | Press Release | $11.09 $11.38 | ▲ +2.57% | ▲ +1.74% | — |
Jul 5, 2026 16w ago | Institutional Cluster | $12.72 $12.82 | ▲ +0.79% | ▲ +1.26% | — |
Jun 29, 2026 17w ago | 8-K | $12.88 $13.30 | ▲ +3.26% | ▲ +2.48% | — |
May 14, 2026 23w ago | EFFECT | $9.81 $9.15 | ▼ −6.73% | ▼ −5.50% | — |
May 7, 2026 24w ago | S-3 | $10.14 $10.79 | ▲ +6.41% | ▲ +6.18% | — |
Mar 18, 2026 31w ago | Press Release | $8.98 $8.61 | ▼ −4.12% | ▼ −2.38% | — |
US Market Status
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