Monitor for upcoming clinical catalysts or financing events that could resolve the directional uncertainty.
Executive Summary
A mixed institutional cluster in BMEA for Q3 2024 shows 6 buyers (net +$2.9M) led by Marshall Wace doubling its stake to $2.5M, while 4 sellers (net +$98K) include Citadel's near-exit (-99.8%) and Legal & General's near-exit (-87.4%). The buying is concentrated among active asset managers, but the selling by sophisticated quant and multi-manager funds suggests caution.
Key Financial Metrics
Institutional Positions
Net institutional flow: $2.9M
▲ Buyers (6)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Marshall Wace | DOUBLED | +532.8% | $2.5M | $2.3M |
| Balyasny Asset Management | DOUBLED | +157.8% | $409.0K | $338.0K |
| Exchange Traded Concepts | ADD | +62.6% | $212.0K | $154.0K |
▼ Sellers (4)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Citadel | NEAR_EXIT | -99.8% | $88.0K | -$87.2K |
| Legal & General Group | NEAR_EXIT | -87.4% | $121.0K | -$86.5K |
| Dimensional Fund Advisors | TRIM | -28% | $404.0K | $248.0K |
Key Facts
- 6 institutional buyers added $2.9M net, led by Marshall Wace (DOUBLED to $2.5M) and Balyasny (DOUBLED to $409K)
- 4 institutional sellers reduced by $98K net, with Citadel (NEAR_EXIT, -99.8%) and Legal & General (NEAR_EXIT, -87.4%)
- Active asset managers dominate the buying side; sellers include a quant fund (Citadel) and a large passive manager (Dimensional)
Financial Impact
6 buyers accumulated $3.2M in positions (net change +$2.9M) while 4 sellers reduced holdings by $98K net
Risk Factors
- 13F data is 45+ days stale; positions may have been unwound
- Selling by Citadel (quant) and Legal & General (passive) may reflect risk-off or thesis abandonment
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| INST-CLUSTER Data (Synthetic) | inst-cluster-BMEA-2024-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 13, 2026 13d ago | 8-K | $0.8340 $0.6901 | ▼ −17.25% | ▼ −17.71% | — |
Oct 13, 2026 13d ago | Press Release | $0.8340 $0.6901 | ▼ −17.25% | ▼ −17.71% | — |
Sep 23, 2026 4w ago | Press Release | $1.44 $1.33 | ▼ −7.64% | ▼ −6.96% | — |
Sep 22, 2026 4w ago | 424B5 | $1.44 $1.33 | ▲ +7.64% | ▲ +6.96% | — |
Sep 22, 2026 4w ago | Press Release | $1.44 $1.33 | ▲ +7.64% | ▲ +6.96% | — |
Jun 12, 2026 19w ago | Institutional Cluster | $1.17 $1.18 | ▲ +0.85% | ▲ +0.18% | — |
Jun 5, 2026 20w ago | Press Release | $1.15 $1.20 | ▲ +4.35% | ▲ +2.24% | — |
May 11, 2026 24w ago | 8-K | $1.58 $1.25 | ▼ −20.89% | ▼ −20.96% | — |
May 11, 2026 24w ago | Press Release | $1.58 $1.25 | ▼ −20.89% | ▼ −20.96% | — |
Apr 28, 2026 26w ago | 8-K | $1.53 $1.48 | ▼ −3.27% | ▼ −4.96% | — |
US Market Status
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