High Net Worth Advisory Group LLC Acquires 500 Shares of Arcellx, Inc. (NASDAQ:ACLX)

High Net Worth Advisory Group LLC increased its holdings in shares of Arcellx, Inc. (NASDAQ:ACLX) by 6.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,500 shares of the company’s stock after acquiring an additional 500 shares during the period. High Net Worth Advisory Group LLC’s holdings in Arcellx were worth $710,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Handelsbanken Fonder AB lifted its holdings in Arcellx by 22.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 12,600 shares of the company’s stock worth $1,052,000 after buying an additional 2,300 shares in the last quarter. SG Americas Securities LLC acquired a new position in Arcellx during the 3rd quarter worth $1,005,000. Algert Global LLC lifted its holdings in Arcellx by 24.4% during the 2nd quarter. Algert Global LLC now owns 35,211 shares of the company’s stock worth $1,943,000 after buying an additional 6,901 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Arcellx by 55.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 73,332 shares of the company’s stock worth $4,047,000 after buying an additional 26,134 shares in the last quarter. Finally, Decheng Capital LLC acquired a new position in Arcellx during the 2nd quarter worth $65,000. 96.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on ACLX shares. Truist Financial reaffirmed a “buy” rating and set a $87.00 price objective on shares of Arcellx in a report on Tuesday, June 18th. Canaccord Genuity Group reissued a “buy” rating and issued a $85.00 price target on shares of Arcellx in a research note on Monday, July 22nd. Redburn Atlantic assumed coverage on Arcellx in a research note on Tuesday, October 8th. They issued a “buy” rating and a $109.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and issued a $81.00 price target on shares of Arcellx in a research note on Friday, August 9th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Arcellx in a research note on Monday, September 9th. 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, the stock has an average rating of “Buy” and an average price target of $80.38.

Arcellx Trading Up 4.0 %

Shares of Arcellx stock opened at $86.20 on Monday. The company has a market capitalization of $4.63 billion, a PE ratio of -82.88 and a beta of 0.25. Arcellx, Inc. has a 12 month low of $30.88 and a 12 month high of $88.66. The stock’s fifty day simple moving average is $72.19 and its 200 day simple moving average is $61.80.

Arcellx (NASDAQ:ACLX) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.51) EPS for the quarter, topping the consensus estimate of ($0.52) by $0.01. The business had revenue of $27.38 million for 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 was up 91.5% compared to the same quarter last year. Analysts predict that Arcellx, Inc. will post -1.65 EPS for the current fiscal year.

Insiders Place Their Bets

In other Arcellx news, CFO Michelle Gilson sold 15,000 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $77.73, for a total transaction of $1,165,950.00. Following the completion of the transaction, the chief financial officer now owns 6,915 shares in the company, valued at approximately $537,502.95. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Arcellx news, Director Kavita Patel sold 1,500 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $74.41, for a total transaction of $111,615.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michelle Gilson sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $77.73, for a total value of $1,165,950.00. Following the completion of the transaction, the chief financial officer now owns 6,915 shares of the company’s stock, valued at $537,502.95. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 81,457 shares of company stock worth $5,704,100. Corporate insiders own 6.24% 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).