Arcellx, Inc. (NASDAQ:ACLX) Shares Sold by Fmr LLC

Fmr LLC reduced its holdings in Arcellx, Inc. (NASDAQ:ACLX) by 0.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 6,479,273 shares of the company’s stock after selling 8,061 shares during the quarter. Fmr LLC owned 0.12% of Arcellx worth $541,084,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ACLX. First Turn Management LLC acquired a new stake in shares of Arcellx in the 3rd quarter valued at approximately $17,896,000. Great Point Partners LLC raised its holdings in Arcellx by 64.0% during the second quarter. Great Point Partners LLC now owns 492,000 shares of the company’s stock worth $27,153,000 after purchasing an additional 192,000 shares during the last quarter. Vanguard Group Inc. raised its holdings in Arcellx by 8.1% during the first quarter. Vanguard Group Inc. now owns 2,228,856 shares of the company’s stock worth $155,017,000 after purchasing an additional 167,037 shares during the last quarter. Affinity Asset Advisors LLC raised its holdings in Arcellx by 53.3% during the second quarter. Affinity Asset Advisors LLC now owns 460,000 shares of the company’s stock worth $25,387,000 after purchasing an additional 160,000 shares during the last quarter. Finally, abrdn plc acquired a new position in Arcellx during the third quarter worth $4,242,000. 96.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Christopher Heery sold 27,451 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $67.03, for a total value of $1,840,040.53. Following the transaction, the insider now owns 9,278 shares in the company, valued at approximately $621,904.34. The trade was a 74.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kavita Patel sold 15,238 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $105.92, for a total value of $1,614,008.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 97,873 shares of company stock worth $8,621,767. 6.24% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ACLX has been the subject of several research reports. Canaccord Genuity Group lifted their price objective on Arcellx from $85.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcellx in a report on Monday, September 9th. Bank of America lifted their price objective on Arcellx from $84.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Morgan Stanley boosted their price target on Arcellx from $81.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Finally, Redburn Atlantic assumed coverage on Arcellx in a report on Tuesday, October 8th. They issued a “buy” rating and a $109.00 price target for the company. Thirteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $103.08.

Arcellx Price Performance

Shares of NASDAQ ACLX opened at $89.07 on Friday. Arcellx, Inc. has a 1-year low of $46.42 and a 1-year high of $107.37. The business has a 50-day moving average of $87.97 and a 200-day moving average of $69.69. The company has a market capitalization of $4.82 billion, a price-to-earnings ratio of -125.45 and a beta of 0.27.

Arcellx (NASDAQ:ACLX) last issued its earnings results on Thursday, November 7th. The company reported ($0.48) earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $26.03 million during the quarter, compared to the consensus estimate of $35.21 million. Research analysts expect that Arcellx, Inc. will post -1.49 EPS for the current fiscal year.

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).