Insider Selling: Arcellx, Inc. (NASDAQ:ACLX) Director Sells 1,500 Shares of Stock

Arcellx, Inc. (NASDAQ:ACLX) Director Kavita Patel sold 1,500 shares of Arcellx stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $63.16, for a total value of $94,740.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Kavita Patel also recently made the following trade(s):

• On Tuesday, February 4th, Kavita Patel sold 1,500 shares of Arcellx stock. The shares were sold at an average price of $64.57, for a total value of $96,855.00.
• On Tuesday, January 14th, Kavita Patel sold 1,500 shares of Arcellx stock. The stock was sold at an average price of $65.87, for a total transaction of $98,805.00.
• On Tuesday, December 24th, Kavita Patel sold 1,500 shares of Arcellx stock. The shares were sold at an average price of $76.97, for a total transaction of $115,455.00.
• On Tuesday, December 3rd, Kavita Patel sold 1,500 shares of Arcellx stock. The stock was sold at an average price of $91.88, for a total transaction of $137,820.00.

Arcellx Stock Down 3.8 %

NASDAQ ACLX opened at $60.26 on Thursday. The company has a market cap of $3.26 billion, a PE ratio of -84.87 and a beta of 0.29. Arcellx, Inc. has a 52 week low of $47.88 and a 52 week high of $107.37. The firm’s 50-day simple moving average is $69.01 and its two-hundred day simple moving average is $77.44.

Institutional Trading of Arcellx

A number of institutional investors have recently modified their holdings of the business. FMR LLC grew its stake in Arcellx by 22.8% in the 4th quarter. FMR LLC now owns 7,956,633 shares of the company’s stock valued at $610,194,000 after buying an additional 1,477,360 shares in the last quarter. Gilead Sciences Inc. bought a new position in shares of Arcellx in the fourth quarter worth $515,418,000. Vanguard Group Inc. grew its position in shares of Arcellx by 35.3% in the fourth quarter. Vanguard Group Inc. now owns 3,330,092 shares of the company’s stock valued at $255,385,000 after purchasing an additional 867,996 shares in the last quarter. RA Capital Management L.P. raised its stake in shares of Arcellx by 50.5% during the 4th quarter. RA Capital Management L.P. now owns 2,787,327 shares of the company’s stock valued at $213,760,000 after purchasing an additional 935,848 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Arcellx by 11.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,121,322 shares of the company’s stock worth $162,685,000 after purchasing an additional 220,711 shares in the last quarter. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Morgan Stanley lifted their target price on shares of Arcellx from $81.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. UBS Group lifted their price target on Arcellx from $106.00 to $114.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Bank of America boosted their price objective on Arcellx from $84.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Barclays raised Arcellx to a “strong-buy” rating in a research report on Friday, November 29th. Finally, Piper Sandler boosted their price target on shares of Arcellx from $91.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Thirteen equities research 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 an average 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).