Rhenman & Partners Asset Management AB Raises Stake in Arcellx, Inc. (NASDAQ:ACLX)

Rhenman & Partners Asset Management AB increased its stake in Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 35.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,500 shares of the company's stock after acquiring an additional 11,500 shares during the quarter. Rhenman & Partners Asset Management AB owned 0.08% of Arcellx worth $3,336,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ACLX. Xponance Inc. boosted its position in shares of Arcellx by 8.6% during the 4th quarter. Xponance Inc. now owns 3,088 shares of the company's stock worth $237,000 after purchasing an additional 244 shares in the last quarter. KBC Group NV grew its stake in Arcellx by 37.3% in the fourth quarter. KBC Group NV now owns 1,388 shares of the company's stock valued at $106,000 after acquiring an additional 377 shares during the period. Swiss National Bank increased its holdings in shares of Arcellx by 0.8% during the fourth quarter. Swiss National Bank now owns 63,400 shares of the company's stock valued at $4,862,000 after acquiring an additional 500 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Arcellx during the fourth quarter worth approximately $41,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Arcellx by 9.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,836 shares of the company's stock worth $754,000 after purchasing an additional 858 shares in the last quarter. Institutional investors and hedge funds own 96.03% of the company's stock.

Insider Transactions at Arcellx

In other Arcellx news, insider Christopher Heery sold 10,155 shares of the stock in a transaction dated 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 sale, the insider now 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kavita Patel sold 1,500 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $64.57, for a total value of $96,855.00. The disclosure for this sale can be found here. Insiders sold a total of 55,955 shares of company stock valued at $3,507,263 over the last ninety days. 6.24% of the stock is currently owned by insiders.

Arcellx Stock Down 5.2 %

ACLX stock traded down $3.05 during midday trading on Thursday, reaching $56.11. 486,569 shares of the company's stock traded hands, compared to its average volume of 553,580. The firm's fifty day moving average price is $65.77 and its 200-day moving average price is $76.33. Arcellx, Inc. has a 52 week low of $47.88 and a 52 week high of $107.37. The company has a market cap of $3.08 billion, a price-to-earnings ratio of -79.01 and a beta of 0.33.

Arcellx (NASDAQ:ACLX - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported ($0.87) EPS for the quarter, missing the consensus estimate of ($0.63) by ($0.24). Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. The business had revenue of $15.27 million for the quarter, compared to the consensus estimate of $27.42 million. Analysts forecast that Arcellx, Inc. will post -1.58 earnings per share for the current year.

About Arcellx

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).