Arcellx, Inc. (NASDAQ:ACLX) Insider Sells $261,820.57 in Stock

Arcellx, Inc. (NASDAQ:ACLX) insider Christopher Heery sold 3,553 shares of Arcellx stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $73.69, for a total transaction of $261,820.57. Following the sale, the insider now owns 25,085 shares of the company’s stock, valued at $1,848,513.65. The trade was a 12.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, January 6th, Christopher Heery sold 3,061 shares of Arcellx stock. The shares were sold at an average price of $77.17, for a total value of $236,217.37.
• On Friday, January 3rd, Christopher Heery sold 3,301 shares of Arcellx stock. The stock was sold at an average price of $79.55, for a total value of $262,594.55.

Arcellx Price Performance

Shares of NASDAQ:ACLX opened at $69.08 on Friday. The business’s 50-day moving average is $85.21 and its 200 day moving average is $75.59. Arcellx, Inc. has a 1 year low of $47.88 and a 1 year high of $107.37. The firm has a market capitalization of $3.74 billion, a P/E ratio of -97.29 and a beta of 0.33.

Arcellx (NASDAQ:ACLX) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $35.21 million. On average, analysts expect that Arcellx, Inc. will post -1.49 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ACLX shares. Barclays raised Arcellx to a “strong-buy” rating in a research report on Friday, November 29th. Redburn Atlantic initiated coverage on shares of Arcellx in a research report on Tuesday, October 8th. They set a “buy” rating and a $109.00 target price on the stock. Piper Sandler boosted their price target on shares of Arcellx from $91.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Needham & Company LLC reiterated a “buy” rating and set a $105.00 price objective on shares of Arcellx in a research note on Monday, December 9th. Finally, UBS Group boosted their price objective on shares of Arcellx from $106.00 to $114.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Thirteen equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Arcellx presently has a consensus rating of “Buy” and an average target price of $105.93.

Institutional Investors Weigh In On Arcellx

A number of large investors have recently bought and sold shares of ACLX. Quest Partners LLC purchased a new stake in shares of Arcellx in the 2nd quarter valued at $27,000. Decheng Capital LLC acquired a new position in Arcellx during the second quarter valued at $65,000. National Bank of Canada FI boosted its holdings in 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 purchasing an additional 500 shares during the last quarter. Quarry LP acquired a new stake in Arcellx during the 3rd quarter worth about $125,000. Finally, Covestor Ltd raised its stake in shares of Arcellx by 53,766.7% during the 3rd quarter. Covestor Ltd now owns 1,616 shares of the company’s stock valued at $135,000 after buying an additional 1,613 shares during the last quarter. Hedge funds and other institutional investors own 96.03% of the company’s stock.

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).