Arcellx, Inc. (NASDAQ:ACLX) Insider Sells $239,538.42 in Stock

Arcellx, Inc. (NASDAQ:ACLX) insider Christopher Heery sold 3,421 shares of Arcellx stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $70.02, for a total transaction of $239,538.42. Following the transaction, the insider now directly owns 9,278 shares of the company’s stock, valued at $649,645.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Tuesday, September 3rd, Christopher Heery sold 27,451 shares of Arcellx stock. The shares were sold at an average price of $67.03, for a total value of $1,840,040.53.
• On Monday, August 26th, Christopher Heery sold 21,684 shares of Arcellx stock. The stock was sold at an average price of $71.12, for a total value of $1,542,166.08.
• On Tuesday, July 16th, Christopher Heery sold 10,901 shares of Arcellx stock. The stock was sold at an average price of $65.30, for a total value of $711,835.30.
• On Thursday, July 11th, Christopher Heery sold 3,671 shares of Arcellx stock. The stock was sold at an average price of $60.01, for a total transaction of $220,296.71.
• On Monday, July 1st, Christopher Heery sold 20,000 shares of Arcellx stock. The stock was sold at an average price of $55.39, for a total transaction of $1,107,800.00.
• On Wednesday, June 12th, Christopher Heery sold 20,000 shares of Arcellx stock. The shares were sold at an average price of $55.13, for a total value of $1,102,600.00.

Arcellx Stock Performance

ACLX stock traded up $0.88 during midday trading on Friday, reaching $71.25. The stock had a trading volume of 588,787 shares, compared to its average volume of 454,397. The firm has a fifty day simple moving average of $61.63 and a two-hundred day simple moving average of $59.72. Arcellx, Inc. has a 52-week low of $30.88 and a 52-week high of $75.10. The stock has a market cap of $3.81 billion, a PE ratio of -68.32 and a beta of 0.23.

Arcellx (NASDAQ:ACLX) last released its earnings results on Thursday, August 8th. The company reported ($0.51) EPS for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.01. The firm had revenue of $27.38 million during the quarter, compared to the consensus estimate of $22.04 million. Arcellx had a negative return on equity of 12.42% and a negative net margin of 37.23%. The company’s revenue for the quarter was up 91.5% compared to the same quarter last year. On average, sell-side analysts predict that Arcellx, Inc. will post -1.64 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on ACLX. HC Wainwright decreased their target price on Arcellx from $82.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, May 13th. Cantor Fitzgerald started coverage on shares of Arcellx in a research note on Tuesday. They issued an “overweight” rating for the company. Stifel Nicolaus increased their target price on Arcellx from $82.00 to $83.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. Piper Sandler assumed coverage on shares of Arcellx in a report on Friday, May 31st. They issued an “overweight” rating and a $70.00 target price for the company. Finally, Evercore ISI started coverage on shares of Arcellx in a report on Tuesday, May 14th. They issued an “outperform” rating and a $85.00 price target on the stock. Fourteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Arcellx presently has an average rating of “Buy” and a consensus target price of $78.00.

Institutional Trading of Arcellx

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quest Partners LLC acquired a new position in shares of Arcellx in the 2nd quarter valued at about $27,000. Plato Investment Management Ltd purchased a new stake in Arcellx during the first quarter worth $51,000. Decheng Capital LLC acquired a new stake in Arcellx during the second quarter valued at $65,000. National Bank of Canada FI increased 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 buying an additional 500 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado acquired a new stake in shares of Arcellx during the 2nd quarter valued at about $178,000. Institutional investors and hedge funds own 96.03% of the company’s stock.

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).