Arcellx, Inc. (NASDAQ:ACLX) Director Sells $96,855.00 in Stock

Arcellx, Inc. (NASDAQ:ACLX) Director Kavita Patel sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $64.57, for a total value of $96,855.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• 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 value of $98,805.00.
• On Tuesday, December 24th, Kavita Patel sold 1,500 shares of Arcellx stock. The stock was 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 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 stock was 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.

Arcellx Price Performance

NASDAQ:ACLX opened at $68.24 on Friday. 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 $75.27 and its 200 day simple moving average is $76.84. The firm has a market capitalization of $3.69 billion, a P/E ratio of -96.11 and a beta of 0.29.

Arcellx (NASDAQ:ACLX) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.48) EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.06. Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. The firm had revenue of $26.03 million for the quarter, compared to analysts’ expectations of $35.21 million. On average, equities research analysts expect that Arcellx, Inc. will post -1.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arcellx

Several hedge funds have recently added to or reduced their stakes in ACLX. Janus Henderson Group PLC increased its holdings in shares of Arcellx by 5.7% during the third quarter. Janus Henderson Group PLC now owns 2,011,950 shares of the company’s stock valued at $168,026,000 after acquiring an additional 109,332 shares in the last quarter. RA Capital Management L.P. raised its holdings in Arcellx by 15.4% in the third quarter. RA Capital Management L.P. now owns 1,851,479 shares of the company’s stock worth $154,617,000 after buying an additional 247,465 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of 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 buying an additional 39,781 shares in the last quarter. Lord Abbett & CO. LLC grew its holdings in shares of Arcellx by 2.1% during the third quarter. Lord Abbett & CO. LLC now owns 891,848 shares of the company’s stock valued at $74,478,000 after buying an additional 18,004 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Arcellx by 4.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 343,085 shares of the company’s stock valued at $26,311,000 after acquiring an additional 14,992 shares in the last quarter. 96.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on ACLX shares. HC Wainwright reaffirmed a “buy” rating and set a $115.00 price objective on shares of Arcellx in a research note on Tuesday, December 10th. Robert W. Baird upped their price target on Arcellx from $77.00 to $106.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Barclays upgraded Arcellx to a “strong-buy” rating in a research report on Friday, November 29th. Morgan Stanley boosted 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, Stifel Nicolaus lifted their price target on shares of Arcellx from $83.00 to $122.00 and gave the company a “buy” rating in a report on Friday, October 18th. Thirteen analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus 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).