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 business’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $71.64, for a total transaction of $107,460.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, February 25th, Kavita Patel sold 1,500 shares of Arcellx stock. The shares were sold at an average price of $63.16, for a total transaction of $94,740.00.
• 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 transaction of $96,855.00.
• On Tuesday, January 14th, Kavita Patel sold 1,500 shares of Arcellx stock. The shares were sold at an average price of $65.87, for a total transaction 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 transaction of $115,455.00.

Arcellx Price Performance

NASDAQ:ACLX opened at $71.35 on Thursday. Arcellx, Inc. has a one year low of $47.88 and a one year high of $107.37. The company’s 50-day simple moving average is $66.59 and its 200 day simple moving average is $77.76. The firm has a market capitalization of $3.92 billion, a P/E ratio of -100.49 and a beta of 0.32.

Arcellx (NASDAQ:ACLX) last issued its earnings results on Thursday, February 27th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.24). The firm had revenue of $15.27 million during the quarter, compared to the consensus estimate of $27.42 million. Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. On average, equities research analysts expect that Arcellx, Inc. will post -1.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on ACLX. HC Wainwright restated a “buy” rating and issued a $115.00 price objective on shares of Arcellx in a research report on Tuesday, December 10th. Needham & Company LLC reiterated a “buy” rating and set a $105.00 price target on shares of Arcellx in a research report on Monday, December 9th. UBS Group boosted their price target on shares of Arcellx from $106.00 to $114.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Barclays upgraded shares of Arcellx to a “strong-buy” rating in a research report on Friday, November 29th. Thirteen analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $108.46.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ACLX. Quest Partners LLC lifted its stake in shares of Arcellx by 210.1% in the third quarter. Quest Partners LLC now owns 1,532 shares of the company’s stock worth $128,000 after buying an additional 1,038 shares in the last quarter. First Turn Management LLC bought a new position in shares of Arcellx in the third quarter worth approximately $17,896,000. Advisors Asset Management Inc. lifted its stake in shares of Arcellx by 13.1% in the third quarter. Advisors Asset Management Inc. now owns 6,196 shares of the company’s stock worth $517,000 after buying an additional 720 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Arcellx in the third quarter worth approximately $800,000. Finally, HealthInvest Partners AB lifted its stake in shares of Arcellx by 78.8% in the third quarter. HealthInvest Partners AB now owns 40,230 shares of the company’s stock worth $3,360,000 after buying an additional 17,734 shares in the last quarter. Institutional investors own 96.03% of the company’s stock.

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).