Vistagen Therapeutics, Inc.

VTGN • NASDAQ

Vistagen Therapeutics, Inc. is a biotechnology company in the healthcare sector on NASDAQ, led by Shawn K. Singh, with a market cap of $167.9M. As of Q3 2025, 75% of shares are held by 57 institutional investors, with HENDERSON GROUP PLC as the largest holder at 13.58%.

Chief Executive OfficerShawn K. Singh

Market Cap$167.9M

Biotechnology

Healthcare

Employees37.0

Websitevistagen.com

Country

United States of America

Overview

Overview of institutional ownership in VTGN as of Q3 2025 with a market cap of $108.9M

All Institutions

Institutions: 57
Value Held: $81.8M
Shares Held: 23.4M
Avg Position: $1.4M
Median Position: $240.6K

Hedge Funds

Hedge Funds: 17
Value Held: $41.2M
Shares Held: 11.9M
Avg Position: $2.4M
Median Position: $1.0M

Ownership Breakdown

Institutional (non-HF)

37.31%

$40.6M

Hedge Funds

37.79%

$41.2M

Retail & Other

24.9%

$27.1M

Based on market cap of $108.9M as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in VTGN as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
HENDERSON GROUP PLC Institution	Ali Dibadj CEO	$14.7M 0.01% of portfolio	13.58% 4.2M shares	Q3 2025 Held for 2 months	$218.74B
ORBIMED ADVISORS LLC Hedge Fund•Sector	Sam Block Iii CFO	$10.9M 0.26% of portfolio	9.97% 3.1M shares	Q3 2025 Held for 2 months	$4.1B
TCG Crossover Management, LLC Venture Capital	Chen Ming Yu Managing Partner	$9.5M 0.47% of portfolio	8.72% 2.7M shares	Q4 2023 Held for 1y 11m	$2.0B
StemPoint Capital LP Hedge Fund•Long/Short	Sean Chua Tan President	$7.7M 1.56% of portfolio	8.11% 2.5M shares	Q4 2023 Held for 1y 11m	$495.9M
N Nantahala Capital Management, LLC Hedge Fund•Multi-Strategy	Daniel J. Mack Managing Partner	$7.0M 0.43% of portfolio	6.45% 2.0M shares	Q4 2023 Held for 1y 11m	$1.6B
VANGUARD GROUP INC Institution	Salim Ramji CEO	$6.0M 0.00% of portfolio	5.50% 1.7M shares	Q4 2016 Held for 8y 11m	$6.69T
COMMODORE CAPITAL LP Hedge Fund•Long/Short	Michael Jonathan Kramarz Managing Partner	$5.6M 0.27% of portfolio	5.13% 1.6M shares	Q3 2023 Held for 2y 2m	$2.0B
Ikarian Capital, LLC Hedge Fund•Event Driven	Neil Tristan Shahrestani CEO	$2.2M 0.45% of portfolio	2.02% 620.9K shares	Q4 2024 Held for 11 months	$494.3M
Soleus Capital Management, L.P. Hedge Fund•Long/Short	Guy Bezalel Levy CIO	$2.0M 0.11% of portfolio	1.79% 550.0K shares	Q3 2025 Held for 2 months	$1.8B
B BlackRock, Inc. Institution	-	$1.5M 0.00% of portfolio	1.38% 423.1K shares	Q4 2019 Held for 5y 11m	$5.67T

Net Capital Flow

Institutional buying and selling activity for VTGN in Q3 2025

Traded: +$28.7M
Buyers: 31
Sellers: 17
Total Bought: +$33.4M
Total Sold: −$4.7M
Avg Position: $1.3M

Biggest Buyers

Institution	Net Bought	Current Position
HENDERSON GROUP PLC Institution	+$14.7M +4.2M shares	$14.7M 4.2M shares
ORBIMED ADVISORS LLC Hedge Fund•Sector	+$10.9M +3.1M shares	$10.9M 3.1M shares
Soleus Capital Management, L.P. Hedge Fund•Long/Short	+$2.0M +550.0K shares	$2.0M 550.0K shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	+$1.4M +381.5K shares	$1.5M 422.0K shares
J JANE STREET GROUP, LLC Institution	+$737.1K +207.6K shares	$1.1M 302.7K shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	+$709.9K +200.0K shares	$1.0M 289.4K shares
TWO SIGMA ADVISERS, LLC Hedge Fund•Multi-Strategy	+$465.8K +131.2K shares	$557.5K 157.0K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	+$433.3K +122.1K shares	$433.3K 122.1K shares
X XTX Topco Ltd Institution	+$247.5K +69.7K shares	$247.5K 69.7K shares
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	+$240.6K +67.8K shares	$240.6K 67.8K shares

Biggest Sellers

Institution	Net Sold	Current Position
JPMORGAN CHASE & CO Institution	−$1.7M −477.0K shares	$965.0K 271.8K shares
A ADAR1 Capital Management, LLC Hedge Fund•Long/Short	−$1.1M −307.7K shares	$401.4K 113.1K shares
S SPHERA FUNDS MANAGEMENT LTD. Institution	−$895.9K −447.9K shares	Sold Off 0 shares
B BLAIR WILLIAM & CO/IL Institution	−$260.2K −73.3K shares	$44.6K 12.6K shares
VANGUARD GROUP INC Institution	−$255.3K −71.9K shares	$6.0M 1.7M shares
DIADEMA PARTNERS LP Hedge Fund•Long/Short	−$192.2K −54.1K shares	$1.2M 349.8K shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	−$105.7K −29.8K shares	$303.9K 85.6K shares
Marshall Wace LLP Institution	−$69.3K −34.6K shares	Sold Off 0 shares
V Virtu Financial LLC Institution	−$45.9K −22.9K shares	Sold Off 0 shares
S SIMPLEX TRADING, LLC Institution	−$45.1K −22.5K shares	Sold Off 0 shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited VTGN in Q3 2025

New Positions: 3
New Value: $15.0M
Exited Positions: 7
Exited Value: $1.1M

New Positions

Institution	Position Value
HENDERSON GROUP PLC Institution	$14.7M 4.2M shares
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$240.6K 67.8K shares
Q Quadrature Capital Ltd Institution	$55.8K 15.8K shares

Exited Positions

Institution	Previous Position
S SPHERA FUNDS MANAGEMENT LTD. Institution	$895.9K 447.9K shares
Marshall Wace LLP Institution	$69.3K 34.6K shares
V Virtu Financial LLC Institution	$45.9K 22.9K shares
S SIMPLEX TRADING, LLC Institution	$45.1K 22.5K shares
T Tower Research Capital LLC Institution	$15.4K 7.7K shares
RAYMOND JAMES FINANCIAL INC RIA/Wealth	$12.8K 6.4K shares
R ROYAL BANK OF CANADA Institution	$6.6K 3.3K shares

Options Activity

Institutions with the largest Call and Put options positions in VTGN as of Q3 2025

Call Positions: 5
Call Value: $2.2M
Put Positions: 2
Put Value: $404.7K

Call Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$861.2K 2.4K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$821.1K 2.3K contracts
DIADEMA PARTNERS LP Hedge Fund•Long/Short	$355.7K 1.0K contracts
ORBIMED ADVISORS LLC Hedge Fund•Sector	$160.5K 452.0 contracts
J JANE STREET GROUP, LLC Institution	$51.5K 145.0 contracts

Put Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$353.2K 995.0 contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$51.5K 145.0 contracts

Most Committed Institutions

Institutions with VTGN as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
StemPoint Capital LP Hedge Fund•Long/Short	Sean Chua Tan President	1.56% $7.7M	8.11% 2.5M shares	Q4 2023 Held for 1y 11m	$495.9M
DIADEMA PARTNERS LP Hedge Fund•Long/Short	Timothy Beau Bassett CIO	0.87% $1.2M	1.14% 349.8K shares	Q4 2024 Held for 11 months	$143.3M
B BML Capital Management, LLC Institution	-	0.48% $532.5K	0.49% 150.0K shares	Q3 2023 Held for 2y 2m	$110.6M
TCG Crossover Management, LLC Venture Capital	Chen Ming Yu Managing Partner	0.47% $9.5M	8.72% 2.7M shares	Q4 2023 Held for 1y 11m	$2.0B
Ikarian Capital, LLC Hedge Fund•Event Driven	Neil Tristan Shahrestani CEO	0.45% $2.2M	2.02% 620.9K shares	Q4 2024 Held for 11 months	$494.3M
N Nantahala Capital Management, LLC Hedge Fund•Multi-Strategy	Daniel J. Mack Managing Partner	0.43% $7.0M	6.45% 2.0M shares	Q4 2023 Held for 1y 11m	$1.6B
COMMODORE CAPITAL LP Hedge Fund•Long/Short	Michael Jonathan Kramarz Managing Partner	0.27% $5.6M	5.13% 1.6M shares	Q3 2023 Held for 2y 2m	$2.0B
ORBIMED ADVISORS LLC Hedge Fund•Sector	Sam Block Iii CFO	0.26% $10.9M	9.97% 3.1M shares	Q3 2025 Held for 2 months	$4.1B
Almitas Capital LLC RIA/Wealth	Ronald Dean Mass Managing Partner	0.21% $928.0K	0.85% 261.4K shares	Q4 2024 Held for 11 months	$435.9M
P Persistent Asset Partners Ltd Institution	-	0.20% $267.4K	0.25% 75.3K shares	Q4 2024 Held for 11 months	$137.1M

Hedge Fund Spotlight

Discover hedge funds investing in VTGN

COMMODORE CAPITAL LP

Hedge Fund • Long/Short

Portfolio ManagerMichael Jonathan Kramarz

Portfolio Value: $2.0B
Positions: 37
Last Reported: Q3 2025

Sector Allocation

Position in Vistagen Therapeutics, Inc.

Market Value: $5.6M
Shares Held: 1.6M
Portfolio Weight: 0.27%
Owned Since: 2023-Q3

Top Holding	Sector	Market Value	Weight
1 Merus N.V. MRUS	Biotechnology Healthcare	$331.9M	16.20%
2 Nuvalent, Inc. NUVL	Biotechnology Healthcare	$121.1M	5.91%
3 Xenon Pharmaceuticals XENE	Biotechnology Healthcare	$108.4M	5.29%