CATX Perspective Therapeutics, Inc.
Executive Summary
Q4 2025 13F cluster for CATX shows a mixed institutional picture: two mega-passive funds (Fidelity, BofA) aggressively reduced holdings, while two quant funds (Two Sigma, Point72) and two other mega-passive funds (Wells Fargo, Morgan Stanley) added moderately. Aggregate net dollar change across tracked funds is negative, with sellers reducing by ~$35.0M vs ~$5.1M in new buyer accumulation. The vast majority of the selling dollar value came from Fidelity, which near-exited a ~$34.3M position.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$18.4M
▲ Buyers (4)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Two Sigma | DOUBLED | +130.7% | $3.3M | $1.5M |
| Point72 | DOUBLED | +610.3% | $864.0K | $712.0K |
▼ Sellers (2)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Fidelity | NEAR_EXIT | -96.9% | $34.3M | -$33.5M |
| BofA | TRIM | -46% | $2.7M | -$1.5M |
Actionable Insight
The cluster is dominated by one mega-passive seller (Fidelity) near-exiting, which accounts for ~87% of all net selling value. Quant funds (Two Sigma, Point72) adding aggressively at lower prices suggests a potential catalyst-driven thesis, but the massive Fidelity exit raises structural demand concerns. Given the very poor historical T+20 performance on prior CATX reports (-10.8% avg, 0% win rate), assign low conviction to this signal. Monitor for any fundamental disclosure (NCT data, partnership, financing news) that could explain the divergence between quant buying and mega-passive selling.
Key Facts
- 6 tracked institutions disclosed changes in CATX for Q4 2025: 4 net buyers ($16.6M total current holdings, +$5.1M) and 2 net sellers (near-exit and trim totaling -$35.0M)
- Fidelity reduced by -96.9%, exiting ~10.0M shares (value dropped from ~$34.3M to ~$844K)
- BofA trimmed -46.0%, reducing ~785.8K to ~424.5K shares (value from ~$2.7M to ~$1.2M)
- Two Sigma doubled its stake (+130.7%, to ~$3.3M), Point72 added +610.3% (to ~$864K), Morgan Stanley added +62.1% (to ~$12.3M), Wells Fargo added +46.2% (to ~$184K)
- Net conviction is mixed: aggressive quant buying (Two Sigma, Point72) vs dominant mega-passive selling (Fidelity, BofA)
- Historical performance on CATX reports is very poor: avg alpha vs SPY at T+20 is -16.57% with 0% win rate (n=6 settled). Score calibration for this type shows T+20 net avg alpha of -2.04% after costs
Financial Impact
2 institutions reduced holdings by ~$35.0M (dominated by Fidelity near-exit) while 4 institutions accumulated ~$5.1M in new value
Risk Factors
- Fidelity near-exit may indicate loss of confidence or mandate-driven restriction
- Aggressive quant buying may be short-term mean-reversion or algorithmic signals, not fundamental conviction
- Historical CATX reports show negative alpha at T+20 across all prior scores, suggesting the stock has been in a downtrend
Market Snapshot
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| INST-CLUSTER Data (Synthetic) | inst-cluster-CATX-2025-Q4 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
Jun 12, 2026
3d ago
|
Institutional Cluster
| $2.96 awaiting T+1 | awaiting T+1 | — | — |
|
Jun 11, 2026
3d ago
|
Institutional Cluster
| $2.96 awaiting T+1 | awaiting T+1 | — | — |
|
Jun 3, 2026
11d ago
|
Press Release
| $3.56 $3.25 | ▼ −8.71% | ▼ −9.11% | — |
|
Jun 1, 2026
13d ago
|
8-K
| $3.66 $3.60 | ▼ −1.64% | ▼ −1.78% | — |
|
May 21, 2026
24d ago
|
Press Release
| $3.98 $4.16 | ▲ +4.52% | ▲ +3.94% | — |
|
May 18, 2026
27d ago
|
Press Release
| $3.76 $3.63 | ▼ −3.46% | ▼ −2.81% | — |
|
May 11, 2026
4w ago
|
8-K
| $3.77 $3.77 | · 0.00% | ▼ −0.54% | — |
|
May 4, 2026
5w ago
|
8-K
| $3.65 $3.82 | ▲ +4.66% | ▲ +3.27% | — |
|
Apr 24, 2026
7w ago
|
Press Release
| $4.51 $4.27 | ▼ −5.32% | ▼ −5.49% | — |
|
Apr 20, 2026
7w ago
|
Press Release
| $4.55 $4.64 | ▲ +1.98% | ▲ +2.63% | — |
US Market Status
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