HealthInvest Partners AB Grows Holdings in Arcellx, Inc. (NASDAQ:ACLX)

HealthInvest Partners AB raised its position in shares of Arcellx, Inc. (NASDAQ:ACLX) by 4.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 42,071 shares of the company’s stock after purchasing an additional 1,841 shares during the period. Arcellx accounts for 1.5% of HealthInvest Partners AB’s investment portfolio, making the stock its 21st largest holding. HealthInvest Partners AB’s holdings in Arcellx were worth $3,296,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ACLX. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Arcellx by 21.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,944 shares of the company’s stock worth $161,000 after buying an additional 347 shares during the period. KBC Group NV lifted 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 acquiring an additional 377 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of Arcellx by 13.1% in the third quarter. Advisors Asset Management Inc. now owns 6,196 shares of the company’s stock valued at $517,000 after acquiring an additional 720 shares in the last quarter. Martingale Asset Management L P grew its position in shares of Arcellx by 4.9% during the third quarter. Martingale Asset Management L P now owns 21,184 shares of the company’s stock worth $1,769,000 after purchasing an additional 992 shares in the last quarter. Finally, Quest Partners LLC grew its position in shares of Arcellx by 210.1% during the third quarter. Quest Partners LLC now owns 1,532 shares of the company’s stock worth $128,000 after purchasing an additional 1,038 shares in the last quarter. 96.03% of the stock is currently owned by institutional investors.

Arcellx Trading Down 2.8 %

Shares of NASDAQ:ACLX opened at $63.75 on Monday. Arcellx, Inc. has a 12 month low of $47.88 and a 12 month high of $107.37. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of -89.79 and a beta of 0.29. The firm’s 50-day moving average is $70.11 and its 200 day moving average is $77.46.

Insider Activity

In other news, insider Christopher Heery sold 3,553 shares of the company’s stock in a transaction dated 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 directly owns 25,085 shares in the company, valued at approximately $1,848,513.65. This represents a 12.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kavita Patel sold 1,500 shares of Arcellx stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $91.88, for a total transaction of $137,820.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,915 shares of company stock valued at $1,209,567. 6.24% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ACLX. Needham & Company LLC reaffirmed a “buy” rating and set a $105.00 price objective on shares of Arcellx in a report on Monday, December 9th. Truist Financial raised their target price on shares of Arcellx from $87.00 to $136.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Piper Sandler boosted their price target on shares of Arcellx from $91.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Bank of America raised their price objective on Arcellx from $84.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, UBS Group boosted their target price on Arcellx from $106.00 to $114.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Thirteen equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $105.93.

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).