Arena Pharm now has over 84% institutional ownership.

A lot of hype, not just on our board, but others as well everywhere, is to look at small companies who have gone on some sort of unbeievable price / valuation run in a week or even sometimes a day, insanely so, with either zero revenue or pitiful revenue for the pumped valuation.

TLRY was one of the companies that comes to mind right away to me being mentioned on this board this past week. This is that small medical marijuana company out of Canada with annual revenue of only $20 million but now being valued at $11.5 billion based on future potential, Canadian dispensary laws potentially being proposed to be passed (favorably) for its type of business model, . . . I guess.

Incidentally TLRY went down Friday $53.35 / 35.25%. Googling I could not find TLRY has any institutional ownership.

My core question for this post is what were institutional ownership percentages of any similar smaller, emerging, biotech companies (not marijuana or unrelated industry companies per se, but similar biotech companies like an Arena) just prior to rocketing higher prices / valuation? Technically, we may have some revenue but let's be honest, we are not a revenue producing biotech. We're at least on the verge of some important data confirmation and discoveries that could be, for some other BP else (or for Arena if it sticks it out solo).

Is there any credible name you all can recollect, of another small biotech, or another company similar in size to Arena's situation (where Arena was retail owned for years and years, shorted over and over, and now in the past year plus now is at a 84% plus institutional ownership) - that quickly (in a month or less) shot up based on news?

Seems to me if a company is as institutionally owned to the extent we are at 2 billion with little debt, lots of cash (not a pion 200 million outfit etc.), that company is very much less likely to see these irrational price / unwarranted valuation rocket launches. Instead it is contained and share price/valuation is instead slowly rewarded.

Is there a company that comes to mind that is, was very heavily owned by institutional investors that has had rocket-like valuation acceleration on anticipated or surprise news? or is that kind of fantasy typically been reserved for companies that have small or non-existent institutional ownership?