Arcellx, Inc. (NASDAQ:ACLX) Insider Christopher Heery Sells 3,553 Shares of Stock

Arcellx, Inc. (NASDAQ:ACLX) insider Christopher Heery sold 3,553 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $73.69, for a total value of $261,820.57. Following the transaction, the insider now owns 25,085 shares of the company’s stock, valued at approximately $1,848,513.65. This trade represents a 12.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Monday, January 6th, Christopher Heery sold 3,061 shares of Arcellx stock. The stock was sold at an average price of $77.17, for a total transaction of $236,217.37.
• On Friday, January 3rd, Christopher Heery sold 3,301 shares of Arcellx stock. The shares were sold at an average price of $79.55, for a total transaction of $262,594.55.

Arcellx Trading Down 4.4 %

Shares of NASDAQ ACLX opened at $69.08 on Friday. The stock has a market capitalization of $3.74 billion, a price-to-earnings ratio of -97.29 and a beta of 0.33. Arcellx, Inc. has a 12-month low of $47.88 and a 12-month high of $107.37. The firm’s 50-day moving average price is $85.21 and its 200-day moving average price is $75.59.

Arcellx (NASDAQ:ACLX) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $0.06. The business had revenue of $26.03 million during the quarter, compared to analyst estimates of $35.21 million. Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. On average, equities analysts predict that Arcellx, Inc. will post -1.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. RA Capital Management L.P. lifted its holdings in shares of Arcellx by 15.4% in the 3rd quarter. RA Capital Management L.P. now owns 1,851,479 shares of the company’s stock worth $154,617,000 after acquiring an additional 247,465 shares during the last quarter. First Turn Management LLC bought a new stake in Arcellx in the third quarter worth about $17,896,000. Great Point Partners LLC boosted its position in shares of Arcellx by 64.0% during the second quarter. Great Point Partners LLC now owns 492,000 shares of the company’s stock valued at $27,153,000 after buying an additional 192,000 shares during the period. Affinity Asset Advisors LLC grew its stake in shares of Arcellx by 53.3% during the second quarter. Affinity Asset Advisors LLC now owns 460,000 shares of the company’s stock valued at $25,387,000 after buying an additional 160,000 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of Arcellx by 5.7% in the third quarter. Janus Henderson Group PLC now owns 2,011,950 shares of the company’s stock worth $168,026,000 after buying an additional 109,332 shares during the period. 96.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on ACLX. Morgan Stanley increased their price target on Arcellx from $81.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Barclays upgraded Arcellx to a “strong-buy” rating in a research report on Friday, November 29th. Canaccord Genuity Group boosted their price target on Arcellx from $85.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Robert W. Baird increased their price objective on shares of Arcellx from $77.00 to $106.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Finally, HC Wainwright reissued a “buy” rating and issued a $115.00 target price on shares of Arcellx in a report on Tuesday, December 10th. Thirteen research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $105.93.

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).