Tema Etfs LLC Acquires New Holdings in Arcellx, Inc. (NASDAQ:ACLX)

Tema Etfs LLC bought a new stake in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 7,468 shares of the company's stock, valued at approximately $573,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC boosted its position in shares of Arcellx by 22.8% in the fourth quarter. FMR LLC now owns 7,956,633 shares of the company's stock valued at $610,194,000 after acquiring an additional 1,477,360 shares during the period. Gilead Sciences Inc. acquired a new stake in Arcellx in the 4th quarter worth $515,418,000. Vanguard Group Inc. increased its holdings in shares of Arcellx by 35.3% during the 4th quarter. Vanguard Group Inc. now owns 3,330,092 shares of the company's stock worth $255,385,000 after purchasing an additional 867,996 shares during the period. RA Capital Management L.P. raised its position in shares of Arcellx by 50.5% during the fourth quarter. RA Capital Management L.P. now owns 2,787,327 shares of the company's stock valued at $213,760,000 after buying an additional 935,848 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Arcellx by 11.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,121,322 shares of the company's stock valued at $162,685,000 after buying an additional 220,711 shares during the last quarter. Institutional investors and hedge funds own 96.03% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Scotiabank lowered their price target on Arcellx from $133.00 to $93.00 and set a "sector outperform" rating on the stock in a research note on Friday, May 9th. Thirteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $111.33.

Arcellx Trading Up 8.3%

ACLX stock traded up $5.00 during trading on Wednesday, hitting $65.54. The company had a trading volume of 2,394,144 shares, compared to its average volume of 594,110. The company has a fifty day moving average price of $62.57 and a two-hundred day moving average price of $71.35. Arcellx, Inc. has a fifty-two week low of $47.86 and a fifty-two week high of $107.37. The company has a market cap of $3.61 billion, a P/E ratio of -92.31 and a beta of 0.34.

Arcellx (NASDAQ:ACLX - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($1.13) EPS for the quarter, missing analysts' consensus estimates of ($0.84) by ($0.29). Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. The firm had revenue of $8.13 million during the quarter, compared to analyst estimates of $19.51 million. On average, analysts expect that Arcellx, Inc. will post -1.58 earnings per share for the current year.

Insider Activity

In other Arcellx news, insider Rami Elghandour sold 38,300 shares of Arcellx stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $62.02, for a total transaction of $2,375,366.00. Following the completion of the sale, the insider now owns 149,186 shares of the company's stock, valued at approximately $9,252,515.72. The trade was a 20.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher Heery sold 10,155 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $63.79, for a total value of $647,787.45. Following the completion of the transaction, the insider now directly owns 37,486 shares in the company, valued at approximately $2,391,231.94. This trade represents a 21.32% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,955 shares of company stock worth $3,495,548. 6.24% of the stock is owned by corporate insiders.

Arcellx Profile

Arcellx, Inc, together with its subsidiary, engages in the development of various immunotherapies for patients with cancer and other incurable diseases in the United States. The company's lead ddCAR product candidate is anitocabtagene autoleucel, which is in phase 2 clinical trial for the treatment of patients with relapsed or refractory multiple myeloma (rrMM).