Moody Aldrich Partners LLC Sells 532 Shares of Arcellx, Inc. (NASDAQ:ACLX)

Moody Aldrich Partners LLC lessened its stake in shares of Arcellx, Inc. (NASDAQ:ACLX) by 1.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,805 shares of the company’s stock after selling 532 shares during the period. Moody Aldrich Partners LLC’s holdings in Arcellx were worth $2,238,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. High Net Worth Advisory Group LLC increased its stake in Arcellx by 6.3% during the 3rd quarter. High Net Worth Advisory Group LLC now owns 8,500 shares of the company’s stock valued at $710,000 after purchasing an additional 500 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in Arcellx by 22.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 12,600 shares of the company’s stock worth $1,052,000 after acquiring an additional 2,300 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Arcellx during the 3rd quarter valued at $1,005,000. Algert Global LLC increased its holdings in shares of Arcellx by 24.4% in the 2nd quarter. Algert Global LLC now owns 35,211 shares of the company’s stock worth $1,943,000 after purchasing an additional 6,901 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Arcellx by 55.4% in the second quarter. The Manufacturers Life Insurance Company now owns 73,332 shares of the company’s stock worth $4,047,000 after purchasing an additional 26,134 shares during the last quarter. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Arcellx Trading Up 0.2 %

Arcellx stock traded up $0.17 during mid-day trading on Thursday, hitting $88.36. The stock had a trading volume of 95,609 shares, compared to its average volume of 462,212. Arcellx, Inc. has a one year low of $30.88 and a one year high of $97.54. The firm has a market capitalization of $4.73 billion, a P/E ratio of -84.83 and a beta of 0.25. The firm’s 50 day moving average is $77.90 and its 200 day moving average is $63.28.

Arcellx (NASDAQ:ACLX) last released its earnings results on Thursday, August 8th. The company reported ($0.51) EPS for the quarter, topping the consensus estimate of ($0.52) by $0.01. Arcellx had a negative net margin of 37.23% and a negative return on equity of 12.42%. The firm had revenue of $27.38 million for the quarter, compared to the consensus estimate of $22.04 million. The company’s revenue for the quarter was up 91.5% compared to the same quarter last year. As a group, equities research analysts forecast that Arcellx, Inc. will post -1.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ACLX has been the subject of several research analyst reports. Stifel Nicolaus lifted their price objective on Arcellx from $83.00 to $122.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Cantor Fitzgerald reissued an “overweight” rating on shares of Arcellx in a report on Monday, September 9th. Redburn Atlantic assumed coverage on shares of Arcellx in a report on Tuesday, October 8th. They issued a “buy” rating and a $109.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and set a $96.00 target price (up from $81.00) on shares of Arcellx in a research note on Friday, October 18th. Finally, Canaccord Genuity Group raised their price target on Arcellx from $85.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Thirteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $89.75.

Insider Buying and Selling

In other news, Director Kavita Patel sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $89.69, for a total transaction of $134,535.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Michelle Gilson sold 15,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $77.73, for a total value of $1,165,950.00. Following the completion of the sale, the chief financial officer now directly owns 6,915 shares in the company, valued at $537,502.95. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kavita Patel sold 1,500 shares of the stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $89.69, for a total transaction of $134,535.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,056 shares of company stock worth $5,126,800. 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).