Just saw the latest analyst update on Oncopeptides AB and the numbers are looking pretty rough honestly. The one-year price target just got cut down to 2.86 kr per share, which is a 45.99% drop from what they were saying back in February. So if you were holding based on those earlier estimates, yeah, that's a significant revision.

The current target range is sitting between 2.83 kr and 2.94 kr, and even at that level it would still represent about a 60% upside from the most recent closing price of 1.78 kr. But here's the thing that caught my eye - fund interest in this stock is pretty minimal. Only one fund or institution is reporting a meaningful position, and that number hasn't changed this quarter.

What's interesting is the SPDR Portfolio Europe ETF actually pulled back pretty hard on their holding. They went from 14K shares down to 8K shares, which is a 69.56% reduction. So the big players are clearly losing confidence here. The ETF also trimmed their overall portfolio allocation by over 4% in just the last quarter. When institutional money starts heading for the exits like that, it usually tells you something about where sentiment is heading.