Arcellx, Inc. (NASDAQ:ACLX) Insider Sells $236,217.37 in Stock

Arcellx, Inc. (NASDAQ:ACLX) insider Christopher Heery sold 3,061 shares of Arcellx stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $77.17, for a total value of $236,217.37. Following the completion of the sale, the insider now owns 32,456 shares of the company’s stock, valued at $2,504,629.52. The trade was a 8.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Christopher Heery also recently made the following trade(s):

• On Friday, January 3rd, Christopher Heery sold 3,301 shares of Arcellx stock. The shares were sold at an average price of $79.55, for a total transaction of $262,594.55.

Arcellx Stock Down 6.2 %

Shares of Arcellx stock opened at $72.26 on Thursday. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of -101.77 and a beta of 0.33. The stock’s 50-day simple moving average is $85.75 and its 200-day simple moving average is $75.64. Arcellx, Inc. has a 52 week low of $47.88 and a 52 week high of $107.37.

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

Hedge Funds Weigh In On Arcellx

A number of hedge funds and other institutional investors have recently modified their holdings of ACLX. RA Capital Management L.P. increased its holdings in Arcellx by 15.4% in the 3rd quarter. RA Capital Management L.P. now owns 1,851,479 shares of the company’s stock valued at $154,617,000 after acquiring an additional 247,465 shares during the last quarter. First Turn Management LLC bought a new stake in shares of Arcellx in the third quarter worth about $17,896,000. Great Point Partners LLC increased its holdings in shares of Arcellx by 64.0% in the second quarter. Great Point Partners LLC now owns 492,000 shares of the company’s stock worth $27,153,000 after purchasing an additional 192,000 shares during the last quarter. Affinity Asset Advisors LLC lifted its position in shares of Arcellx by 53.3% in the second quarter. Affinity Asset Advisors LLC now owns 460,000 shares of the company’s stock worth $25,387,000 after buying an additional 160,000 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in Arcellx by 5.7% during the 3rd quarter. Janus Henderson Group PLC now owns 2,011,950 shares of the company’s stock valued at $168,026,000 after buying an additional 109,332 shares in the last quarter. Institutional investors own 96.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ACLX. HC Wainwright reiterated a “buy” rating and set a $115.00 target price on shares of Arcellx in a research note on Tuesday, December 10th. Piper Sandler increased their target price on Arcellx from $91.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Canaccord Genuity Group upped their price target on shares of Arcellx from $85.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Bank of America raised their price objective on shares of Arcellx from $84.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, Redburn Atlantic assumed coverage on shares of Arcellx in a report on Tuesday, October 8th. They set a “buy” rating and a $109.00 target price for the company. Thirteen analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Arcellx presently has a consensus rating of “Buy” and a consensus target price of $105.93.

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).