Kavita Patel Sells 1,500 Shares of Arcellx, Inc. (NASDAQ:ACLX) Stock

Arcellx, Inc. (NASDAQ:ACLX) Director Kavita Patel sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $76.97, for a total value of $115,455.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Kavita Patel also recently made the following trade(s):

• On Tuesday, December 3rd, Kavita Patel sold 1,500 shares of Arcellx stock. The shares were sold at an average price of $91.88, for a total value of $137,820.00.
• On Friday, November 8th, Kavita Patel sold 33,763 shares of Arcellx stock. The shares were sold at an average price of $104.14, for a total transaction of $3,516,078.82.
• On Monday, November 11th, Kavita Patel sold 15,238 shares of Arcellx stock. The shares were sold at an average price of $105.92, for a total transaction of $1,614,008.96.
• On Tuesday, October 22nd, Kavita Patel sold 1,500 shares of Arcellx stock. The stock was sold at an average price of $89.69, for a total value of $134,535.00.

Arcellx Stock Performance

Shares of ACLX opened at $79.08 on Friday. Arcellx, Inc. has a one year low of $47.88 and a one year high of $107.37. The stock’s fifty day moving average is $87.15 and its 200-day moving average is $74.24. The firm has a market capitalization of $4.28 billion, a price-to-earnings ratio of -111.38 and a beta of 0.25.

Arcellx (NASDAQ:ACLX) last released its earnings results on Thursday, November 7th. The company reported ($0.48) EPS for the quarter, beating the consensus estimate of ($0.54) by $0.06. The firm had revenue of $26.03 million for 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%. Analysts forecast that Arcellx, Inc. will post -1.49 EPS for the current fiscal year.

Institutional Investors Weigh In On Arcellx

A number of institutional investors have recently added to or reduced their stakes in ACLX. Lord Abbett & CO. LLC raised its stake in shares of Arcellx by 2.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 891,848 shares of the company’s stock worth $74,478,000 after buying an additional 18,004 shares in the last quarter. Geode Capital Management LLC raised its position in Arcellx by 4.3% in the third quarter. Geode Capital Management LLC now owns 974,967 shares of the company’s stock worth $81,434,000 after acquiring an additional 39,781 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Arcellx by 15.2% in the 3rd quarter. Wellington Management Group LLP now owns 20,968 shares of the company’s stock valued at $1,751,000 after acquiring an additional 2,768 shares during the last quarter. Quarry LP bought a new position in shares of Arcellx during the 3rd quarter valued at about $125,000. Finally, RA Capital Management L.P. grew its stake in shares of Arcellx by 15.4% in the 3rd quarter. RA Capital Management L.P. now owns 1,851,479 shares of the company’s stock worth $154,617,000 after purchasing an additional 247,465 shares during the last quarter. 96.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on ACLX. Redburn Atlantic assumed coverage on Arcellx in a research note on Tuesday, October 8th. They set a “buy” rating and a $109.00 target price for the company. Piper Sandler raised their price objective on Arcellx from $91.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcellx in a research note on Monday, September 9th. Morgan Stanley upped their target price on Arcellx from $81.00 to $106.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Finally, Barclays raised shares of Arcellx to a “strong-buy” rating in a research note on Friday, November 29th. Thirteen equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $105.93.

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).