Tema Etfs LLC Buys Shares of 7,468 Arcellx, Inc. (NASDAQ:ACLX)

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

A number of other institutional investors have also recently modified their holdings of the stock. Headlands Technologies LLC bought a new stake in Arcellx during the fourth quarter worth about $41,000. KBC Group NV raised its position in shares of Arcellx by 37.3% in the 4th quarter. KBC Group NV now owns 1,388 shares of the company's stock valued at $106,000 after buying an additional 377 shares in the last quarter. Avanza Fonder AB bought a new stake in shares of Arcellx during the 4th quarter worth approximately $184,000. Kazazian Asset Management LLC bought a new stake in shares of Arcellx during the 4th quarter worth approximately $204,000. Finally, Landscape Capital Management L.L.C. bought a new position in Arcellx in the fourth quarter valued at approximately $214,000. 96.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Arcellx Price Performance

Shares of NASDAQ:ACLX traded down $1.71 during midday trading on Friday, hitting $63.51. 288,869 shares of the company's stock were exchanged, compared to its average volume of 733,993. Arcellx, Inc. has a 12 month low of $47.86 and a 12 month high of $107.37. The company has a market cap of $3.50 billion, a PE ratio of -89.44 and a beta of 0.34. The stock has a 50 day moving average price of $62.42 and a 200-day moving average price of $71.20.

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

Insider Activity

In other Arcellx news, Director Kavita Patel sold 1,500 shares of the business's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $71.64, for a total value of $107,460.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Christopher Heery sold 10,155 shares of the company's stock in a transaction that occurred 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 owns 37,486 shares in the company, valued at approximately $2,391,231.94. The trade was a 21.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,955 shares of company stock valued at $3,495,548 over the last three months. Corporate insiders own 6.24% of the company's stock.

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).