Y Intercept Hong Kong Ltd Reduces Position in Arcellx, Inc. (NASDAQ:ACLX)

Y Intercept Hong Kong Ltd lowered its position in Arcellx, Inc. (NASDAQ:ACLX) by 75.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,904 shares of the company’s stock after selling 11,955 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Arcellx were worth $326,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of ACLX. Quest Partners LLC purchased a new stake in Arcellx in the 2nd quarter valued at $27,000. Decheng Capital LLC acquired a new position in Arcellx in the second quarter valued at $65,000. National Bank of Canada FI raised its holdings in shares of Arcellx by 50.0% in the second quarter. National Bank of Canada FI now owns 1,500 shares of the company’s stock valued at $80,000 after buying an additional 500 shares during the last quarter. Quarry LP acquired a new stake in shares of Arcellx during the third quarter worth about $125,000. Finally, Covestor Ltd grew its holdings in shares of Arcellx by 53,766.7% during the third quarter. Covestor Ltd now owns 1,616 shares of the company’s stock worth $135,000 after buying an additional 1,613 shares during the last quarter. 96.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on ACLX shares. Barclays raised Arcellx to a “strong-buy” rating in a research note on Friday, November 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $105.00 price target on shares of Arcellx in a report on Monday, December 9th. Cantor Fitzgerald restated an “overweight” rating on shares of Arcellx in a research report on Monday, September 9th. UBS Group lifted their target price on shares of Arcellx from $106.00 to $114.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, Stifel Nicolaus increased their price target on shares of Arcellx from $83.00 to $122.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Thirteen research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $105.93.

Insider Activity

In other news, Director Kavita Patel sold 15,238 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $105.92, for a total value of $1,614,008.96. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders have sold 52,001 shares of company stock worth $5,402,443 over the last ninety days. 6.24% of the stock is currently owned by insiders.

Arcellx Stock Performance

ACLX opened at $82.03 on Wednesday. The company has a market cap of $4.44 billion, a price-to-earnings ratio of -115.53 and a beta of 0.25. Arcellx, Inc. has a one year low of $47.88 and a one year high of $107.37. The business’s fifty day moving average is $89.08 and its two-hundred day moving average is $72.94.

Arcellx (NASDAQ:ACLX) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.48) EPS for the quarter, topping the consensus estimate of ($0.54) by $0.06. Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. The business had revenue of $26.03 million for the quarter, compared to analyst estimates of $35.21 million. On average, analysts predict that Arcellx, Inc. will post -1.49 EPS for the current fiscal year.

Arcellx Company 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).