Parkman Healthcare Partners LLC Lowers Holdings in Arcellx, Inc. (NASDAQ:ACLX)

Parkman Healthcare Partners LLC trimmed its position in shares of Arcellx, Inc. (NASDAQ:ACLX) by 57.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 66,492 shares of the company’s stock after selling 90,351 shares during the quarter. Parkman Healthcare Partners LLC owned about 0.12% of Arcellx worth $5,553,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jacobs Levy Equity Management Inc. boosted its stake in Arcellx by 67.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 79,936 shares of the company’s stock valued at $6,675,000 after purchasing an additional 32,119 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Arcellx by 5.7% in the 3rd quarter. Janus Henderson Group PLC now owns 2,011,950 shares of the company’s stock worth $168,026,000 after buying an additional 109,332 shares in the last quarter. HighVista Strategies LLC raised its position in Arcellx by 8.0% in the 3rd quarter. HighVista Strategies LLC now owns 55,139 shares of the company’s stock worth $4,605,000 after buying an additional 4,099 shares during the last quarter. Erste Asset Management GmbH purchased a new stake in shares of Arcellx during the 3rd quarter valued at about $1,738,000. Finally, Bellevue Group AG bought a new stake in shares of Arcellx in the third quarter worth approximately $334,000. 96.03% of the stock is currently owned by institutional investors.

Arcellx Stock Performance

ACLX stock opened at $88.65 on Wednesday. The company has a market capitalization of $4.79 billion, a PE ratio of -124.86 and a beta of 0.25. The company’s fifty day moving average price is $88.35 and its 200-day moving average price is $70.91. Arcellx, Inc. has a one year low of $46.42 and a one year high of $107.37.

Arcellx (NASDAQ:ACLX) last posted its earnings results on Thursday, November 7th. The company reported ($0.48) EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.06. The company had revenue of $26.03 million for the quarter, compared to the consensus estimate of $35.21 million. Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. On average, research analysts predict that Arcellx, Inc. will post -1.49 EPS for the current fiscal year.

Insider Transactions at Arcellx

In other news, insider Christopher Heery sold 3,421 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $70.02, for a total value of $239,538.42. Following the completion of the sale, the insider now directly owns 9,278 shares of the company’s stock, valued at $649,645.56. This trade represents a 26.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kavita Patel sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $74.41, for a total value of $111,615.00. The disclosure for this sale can be found here. Insiders have sold 70,422 shares of company stock valued at $6,781,726 in the last ninety days. Corporate insiders own 6.24% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus raised their target price on shares of Arcellx from $83.00 to $122.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Needham & Company LLC reissued a “buy” rating and issued a $96.00 target price on shares of Arcellx in a report on Wednesday, November 6th. Piper Sandler upped their price target on shares of Arcellx from $91.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Morgan Stanley raised their price objective on shares of Arcellx from $81.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Finally, HC Wainwright upped their target price on shares of Arcellx from $80.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Thirteen research 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.com, the stock currently has an average rating of “Buy” and a consensus target price of $103.08.

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).