Christopher Heery Sells 10,155 Shares of Arcellx, Inc. (NASDAQ:ACLX) Stock

Arcellx, Inc. (NASDAQ:ACLX) insider Christopher Heery sold 10,155 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $63.79, for a total transaction of $647,787.45. Following the transaction, the insider now owns 37,486 shares in the company, valued at approximately $2,391,231.94. This represents a 21.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Wednesday, January 8th, Christopher Heery sold 3,553 shares of Arcellx stock. The shares were sold at an average price of $73.69, for a total transaction of $261,820.57.
• On Monday, January 6th, Christopher Heery sold 3,061 shares of Arcellx stock. The shares were 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 Price Performance

NASDAQ:ACLX opened at $63.01 on Tuesday. The firm has a market capitalization of $3.41 billion, a P/E ratio of -88.75 and a beta of 0.29. Arcellx, Inc. has a 1-year low of $47.88 and a 1-year high of $107.37. The company’s fifty day moving average price is $69.70 and its 200-day moving average price is $77.53.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ACLX. Bank of America increased their target price on shares of Arcellx from $84.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Needham & Company LLC reissued a “buy” rating and set a $105.00 target price on shares of Arcellx in a research report on Monday, December 9th. Truist Financial raised their price target on shares of Arcellx from $87.00 to $136.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Piper Sandler raised their price target on shares of Arcellx from $91.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Finally, Morgan Stanley raised their price target on shares of Arcellx from $81.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Thirteen research 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.com, the company currently has an average rating of “Buy” and a consensus price target of $105.93.

Institutional Trading of Arcellx

Hedge funds and other institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC acquired a new stake in shares of Arcellx in the fourth quarter worth $41,000. GF Fund Management CO. LTD. acquired a new stake in shares of Arcellx in the fourth quarter valued at about $87,000. KBC Group NV grew its position in shares of Arcellx by 37.3% in the fourth quarter. KBC Group NV now owns 1,388 shares of the company’s stock valued at $106,000 after purchasing an additional 377 shares during the period. Quarry LP acquired a new stake in shares of Arcellx in the third quarter valued at about $125,000. Finally, Quest Partners LLC lifted its stake in shares of Arcellx by 210.1% in the third quarter. Quest Partners LLC now owns 1,532 shares of the company’s stock worth $128,000 after buying an additional 1,038 shares in the last quarter. Institutional investors and hedge funds own 96.03% of the company’s stock.

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).