Arcellx, Inc. (NASDAQ:ACLX) Insider Sells $236,217.37 in Stock

Arcellx, Inc. (NASDAQ:ACLX) insider Christopher Heery sold 3,061 shares of the business’s 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 transaction, the insider now directly owns 32,456 shares of the company’s stock, valued at approximately $2,504,629.52. The trade was a 8.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Christopher Heery also recently made the following trade(s):

• On Friday, January 3rd, Christopher Heery sold 3,301 shares of Arcellx stock. The stock was sold at an average price of $79.55, for a total transaction of $262,594.55.

Arcellx Stock Down 6.2 %

Arcellx stock opened at $72.26 on Thursday. The firm has a fifty day simple moving average of $85.75 and a two-hundred day simple moving average of $75.64. Arcellx, Inc. has a twelve month low of $47.88 and a twelve month high of $107.37. The company has a market capitalization of $3.91 billion, a PE ratio of -101.77 and a beta of 0.33.

Arcellx (NASDAQ:ACLX) last issued its earnings results on Thursday, November 7th. The company reported ($0.48) EPS for the quarter, topping the consensus estimate of ($0.54) by $0.06. The company had revenue of $26.03 million for the quarter, compared to the consensus estimate of $35.21 million. Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. As a group, equities analysts expect that Arcellx, Inc. will post -1.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arcellx

Several hedge funds and other institutional investors have recently modified their holdings of ACLX. First Turn Management LLC bought a new stake in shares of Arcellx during the 3rd quarter valued at $17,896,000. Charles Schwab Investment Management Inc. boosted its stake in Arcellx by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 328,093 shares of the company’s stock worth $27,399,000 after acquiring an additional 14,200 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in Arcellx by 37.0% in the third quarter. Harbor Capital Advisors Inc. now owns 27,896 shares of the company’s stock worth $2,330,000 after purchasing an additional 7,534 shares during the period. Lord Abbett & CO. LLC increased its stake 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 purchasing an additional 18,004 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of Arcellx during the third quarter valued at approximately $800,000. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ACLX shares. Redburn Atlantic began coverage on shares of Arcellx in a report on Tuesday, October 8th. They issued a “buy” rating and a $109.00 price objective for the company. Robert W. Baird raised their price target on shares of Arcellx from $77.00 to $106.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. HC Wainwright reissued a “buy” rating and issued a $115.00 price objective on shares of Arcellx in a research note on Tuesday, December 10th. Stifel Nicolaus raised their target price on Arcellx from $83.00 to $122.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, UBS Group upped their price target on Arcellx from $106.00 to $114.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Thirteen analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Arcellx presently 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).