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

Arcellx, Inc. (NASDAQ:ACLX) Director Kavita Patel sold 1,500 shares of Arcellx stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $63.16, for a total transaction of $94,740.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, February 4th, Kavita Patel sold 1,500 shares of Arcellx stock. The shares were sold at an average price of $64.57, for a total value of $96,855.00.
• On Tuesday, January 14th, Kavita Patel sold 1,500 shares of Arcellx stock. The stock was sold at an average price of $65.87, for a total value of $98,805.00.
• On Tuesday, December 24th, Kavita Patel sold 1,500 shares of Arcellx stock. The shares were sold at an average price of $76.97, for a total value of $115,455.00.
• On Tuesday, December 3rd, Kavita Patel sold 1,500 shares of Arcellx stock. The stock was sold at an average price of $91.88, for a total value of $137,820.00.

Arcellx Trading Down 0.6 %

Arcellx stock opened at $62.65 on Wednesday. The stock has a market cap of $3.39 billion, a P/E ratio of -88.24 and a beta of 0.29. Arcellx, Inc. has a 12-month low of $47.88 and a 12-month high of $107.37. The company has a 50-day moving average price of $69.31 and a 200 day moving average price of $77.56.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ACLX. Gilead Sciences Inc. purchased a new position in Arcellx in the fourth quarter worth approximately $515,418,000. FMR LLC lifted its position in Arcellx by 22.8% in the fourth quarter. FMR LLC now owns 7,956,633 shares of the company’s stock valued at $610,194,000 after buying an additional 1,477,360 shares during the last quarter. RA Capital Management L.P. lifted its position in Arcellx by 50.5% in the fourth quarter. RA Capital Management L.P. now owns 2,787,327 shares of the company’s stock valued at $213,760,000 after buying an additional 935,848 shares during the last quarter. Vanguard Group Inc. lifted its position in Arcellx by 35.3% in the fourth quarter. Vanguard Group Inc. now owns 3,330,092 shares of the company’s stock valued at $255,385,000 after buying an additional 867,996 shares during the last quarter. Finally, Capital World Investors acquired a new position in Arcellx in the fourth quarter valued at about $19,393,000. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ACLX. UBS Group increased their target price on Arcellx from $106.00 to $114.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. HC Wainwright reiterated a “buy” rating and set a $115.00 target price on shares of Arcellx in a research report on Tuesday, December 10th. Needham & Company LLC restated a “buy” rating and set a $105.00 price target on shares of Arcellx in a research report on Monday, December 9th. Morgan Stanley upped their price target on shares of Arcellx from $81.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Finally, Barclays upgraded shares of Arcellx to a “strong-buy” rating in a research report on Friday, November 29th. Thirteen investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Arcellx presently has an average rating of “Buy” and an average target price of $105.93.

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).