ICCC
Immucell Corp
stock NASDAQ

Your basic premise is wrong and is used often to explain why there is often low institutional ownership in a lot of small biotechs.
Examples of institutional ownership (IO).
DRTS has IO 9% market cap of 1.31 billion
ICCC has IO 18% market cap \~$92.0 million
MAIA has IO 24% market cap \~85 million
Cadl has IO 69% market cap \~1.03 billion.
What DRTS does have is 0 zero insider buying over the last 12 months and only selling.
While ICCC, MAIA and CADL all have strong insider buying. CADL does have some insider selling 30K vs 540K buying in the last 12 months. The 30K sell was a planned sell and more recent.

Your basic premise is wrong and is used often to explain why there is often low institutional ownership in a lot of small biotechs.
Examples of institutional ownership (IO).
DRTS has IO 9% market cap of 1.31 billion
ICCC has IO 18% market cap \~$92.0 million
MAIA has IO 24% market cap \~85 million
Cadl has IO 69% market cap \~1.03 billion.
What DRTS does have is 0 zero insider buying over the last 12 months and only selling.
While ICCC, MAIA and CADL all have strong insider buying. CADL does have some insider selling 30K vs 540K buying in the last 12 months. The 30K sell was a planned sell and more recent.