Intech Investment Management LLC Acquires 7,628 Shares of Arcellx, Inc. (NASDAQ:ACLX)

Intech Investment Management LLC lifted its position in Arcellx, Inc. (NASDAQ:ACLX) by 79.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,207 shares of the company’s stock after buying an additional 7,628 shares during the period. Intech Investment Management LLC’s holdings in Arcellx were worth $1,320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of ACLX. KBC Group NV boosted its stake in shares of Arcellx by 37.3% in the 4th quarter. KBC Group NV now owns 1,388 shares of the company’s stock worth $106,000 after buying an additional 377 shares during the last quarter. Quarry LP purchased a new position in shares of Arcellx in the 3rd quarter worth $125,000. Quest Partners LLC boosted its stake in shares of Arcellx by 210.1% in the 3rd quarter. Quest Partners LLC now owns 1,532 shares of the company’s stock worth $128,000 after buying an additional 1,038 shares during the last quarter. Avanza Fonder AB purchased a new position in shares of Arcellx in the 4th quarter worth $184,000. Finally, Glenmede Trust Co. NA purchased a new position in shares of Arcellx in the 3rd quarter worth $302,000. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Arcellx

In other news, Director Kavita Patel sold 1,500 shares of Arcellx stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $76.97, for a total value of $115,455.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Christopher Heery sold 3,061 shares of Arcellx stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $77.17, for a total value of $236,217.37. Following the completion of the sale, the insider now directly owns 32,456 shares in the company, valued at $2,504,629.52. This trade represents a 8.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 65,870 shares of company stock valued at $4,297,101. 6.24% of the stock is currently owned by insiders.

Arcellx Stock Down 2.9 %

Shares of Arcellx stock opened at $69.33 on Friday. The stock’s 50-day simple moving average is $66.56 and its 200-day simple moving average is $77.67. Arcellx, Inc. has a 52 week low of $47.88 and a 52 week high of $107.37. The company has a market capitalization of $3.81 billion, a price-to-earnings ratio of -97.65 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). Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. The firm had revenue of $15.27 million during the quarter, compared to the consensus estimate of $27.42 million. On average, equities analysts expect that Arcellx, Inc. will post -1.58 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ACLX shares. Needham & Company LLC restated a “buy” rating and issued a $105.00 price target on shares of Arcellx in a research note on Monday, December 9th. 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. Barclays upgraded Arcellx to a “strong-buy” rating in a research report on Friday, November 29th. Finally, UBS Group lifted 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. Thirteen investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Arcellx currently has a consensus rating of “Buy” and a consensus price target of $108.46.

Arcellx 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).