Jacobs Levy Equity Management Inc. Has $6.68 Million Holdings in Arcellx, Inc. (NASDAQ:ACLX)

Jacobs Levy Equity Management Inc. lifted its holdings in shares of Arcellx, Inc. (NASDAQ:ACLX) by 67.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 79,936 shares of the company’s stock after acquiring an additional 32,119 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Arcellx were worth $6,675,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of ACLX. Quest Partners LLC bought a new position in Arcellx in the second quarter valued at approximately $27,000. Decheng Capital LLC acquired a new position in shares of Arcellx in the 2nd quarter valued at $65,000. National Bank of Canada FI lifted its stake in shares of Arcellx by 50.0% in the 2nd quarter. National Bank of Canada FI now owns 1,500 shares of the company’s stock valued at $80,000 after purchasing an additional 500 shares during the period. Covestor Ltd boosted its position in shares of Arcellx by 53,766.7% in the 3rd quarter. Covestor Ltd now owns 1,616 shares of the company’s stock worth $135,000 after purchasing an additional 1,613 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Arcellx by 21.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,944 shares of the company’s stock worth $161,000 after purchasing an additional 347 shares during the period. 96.03% of the stock is owned by institutional investors.

Insider Transactions at Arcellx

In other Arcellx news, CFO Michelle Gilson sold 15,000 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $77.73, for a total transaction of $1,165,950.00. Following the sale, the chief financial officer now directly owns 6,915 shares of the company’s stock, valued at approximately $537,502.95. This represents a 68.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kavita Patel sold 1,500 shares of Arcellx stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $74.41, for a total transaction of $111,615.00. The disclosure for this sale can be found here. Insiders sold a total of 68,501 shares of company stock worth $6,680,008 in the last three months. Insiders own 6.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Piper Sandler raised their target price on Arcellx from $91.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Bank of America boosted their price objective on shares of Arcellx from $84.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Stifel Nicolaus increased 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. Barclays raised shares of Arcellx to a “strong-buy” rating in a research report on Friday, November 29th. Finally, Canaccord Genuity Group upped their price objective on shares of Arcellx from $85.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Twelve 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.com, the company currently has an average rating of “Buy” and a consensus target price of $103.08.

Arcellx Stock Up 0.7 %

NASDAQ:ACLX opened at $86.42 on Friday. The company has a market cap of $4.67 billion, a P/E ratio of -121.72 and a beta of 0.25. Arcellx, Inc. has a twelve month low of $46.42 and a twelve month high of $107.37. The business has a 50 day moving average price of $88.42 and a two-hundred day moving average price of $71.12.

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

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).