Jackson Creek Investment Advisors LLC Buys New Shares in Arcellx, Inc. (NASDAQ:ACLX)

Jackson Creek Investment Advisors LLC bought a new position in shares of Arcellx, Inc. (NASDAQ:ACLX) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 15,389 shares of the company’s stock, valued at approximately $1,180,000.

Other large investors also recently bought and sold shares of the company. KBC Group NV grew its position in shares of Arcellx by 37.3% during the fourth quarter. KBC Group NV now owns 1,388 shares of the company’s stock worth $106,000 after buying an additional 377 shares in the last quarter. Quarry LP acquired a new position in Arcellx during the 3rd quarter worth approximately $125,000. Quest Partners LLC increased its position in shares of Arcellx by 210.1% in the 3rd quarter. Quest Partners LLC now owns 1,532 shares of the company’s stock valued at $128,000 after purchasing an additional 1,038 shares during the last quarter. Covestor Ltd raised its holdings in shares of Arcellx by 53,766.7% in the 3rd quarter. Covestor Ltd now owns 1,616 shares of the company’s stock valued at $135,000 after purchasing an additional 1,613 shares in the last quarter. Finally, Avanza Fonder AB acquired a new position in shares of Arcellx during the fourth quarter worth $184,000. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Insider Buying and Selling at Arcellx

In related news, insider Christopher Heery sold 3,301 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $79.55, for a total value of $262,594.55. Following the completion of the sale, the insider now owns 35,517 shares in the company, valued at $2,825,377.35. This trade represents a 8.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kavita Patel sold 1,500 shares of Arcellx 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 disclosure for this sale can be found here. In the last three months, insiders have sold 64,370 shares of company stock valued at $4,189,641. 6.24% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on ACLX. 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. Barclays raised Arcellx to a “strong-buy” rating in a research report on Friday, November 29th. Piper Sandler upped their price target on Arcellx from $91.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, November 8th. UBS Group raised their price objective on shares of Arcellx from $106.00 to $114.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, Truist Financial upped their target price on shares of Arcellx from $87.00 to $136.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Thirteen analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Arcellx currently has an average rating of “Buy” and an average target price of $108.46.

Arcellx Stock Performance

Shares of ACLX opened at $70.74 on Friday. Arcellx, Inc. has a fifty-two week low of $47.88 and a fifty-two week high of $107.37. The firm has a 50-day simple moving average of $67.61 and a 200-day simple moving average of $77.47. The company has a market capitalization of $3.89 billion, a price-to-earnings ratio of -99.63 and a beta of 0.32.

Arcellx (NASDAQ:ACLX) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.87) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.24). The company had revenue of $15.27 million for the quarter, compared to analyst estimates of $27.42 million. Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. Equities research analysts forecast that Arcellx, Inc. will post -1.58 EPS for the current year.

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).