Arcellx, Inc. (NASDAQ:ACLX) Director Kavita Patel Sells 1,500 Shares

Arcellx, Inc. (NASDAQ:ACLX) Director Kavita Patel sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $63.16, for a total value of $94,740.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Kavita Patel also recently made the following trade(s):

• On Tuesday, February 4th, Kavita Patel sold 1,500 shares of Arcellx stock. The stock was sold at an average price of $64.57, for a total value of $96,855.00.
• On Tuesday, January 14th, Kavita Patel sold 1,500 shares of Arcellx stock. The shares were sold at an average price of $65.87, for a total transaction of $98,805.00.
• On Tuesday, December 24th, Kavita Patel sold 1,500 shares of Arcellx stock. The stock was sold at an average price of $76.97, for a total transaction of $115,455.00.
• On Tuesday, December 3rd, Kavita Patel sold 1,500 shares of Arcellx stock. The shares were sold at an average price of $91.88, for a total transaction of $137,820.00.

Arcellx Stock Down 0.6 %

Arcellx stock traded down $0.36 during trading hours on Tuesday, hitting $62.65. The stock had a trading volume of 689,845 shares, compared to its average volume of 638,090. The stock’s 50-day moving average price is $69.31 and its 200-day moving average price is $77.56. Arcellx, Inc. has a 12-month low of $47.88 and a 12-month high of $107.37. The stock has a market capitalization of $3.39 billion, a P/E ratio of -88.24 and a beta of 0.29.

Analysts Set New Price Targets

Several analysts have weighed in on ACLX shares. Robert W. Baird lifted their price objective on Arcellx from $77.00 to $106.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Truist Financial lifted their price target on Arcellx from $87.00 to $136.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Morgan Stanley upped 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. 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, Needham & Company LLC reaffirmed a “buy” rating and issued a $105.00 target price on shares of Arcellx in a research report on Monday, December 9th. Thirteen analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $105.93.

Hedge Funds Weigh In On Arcellx

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Gilead Sciences Inc. purchased a new position in shares of Arcellx in the fourth quarter worth $515,418,000. FMR LLC increased its holdings in Arcellx by 22.8% in the 4th quarter. FMR LLC now owns 7,956,633 shares of the company’s stock worth $610,194,000 after buying an additional 1,477,360 shares in the last quarter. RA Capital Management L.P. raised its position in Arcellx by 50.5% in the 4th quarter. RA Capital Management L.P. now owns 2,787,327 shares of the company’s stock worth $213,760,000 after buying an additional 935,848 shares during the last quarter. Vanguard Group Inc. raised its position in Arcellx by 35.3% in the 4th quarter. Vanguard Group Inc. now owns 3,330,092 shares of the company’s stock worth $255,385,000 after buying an additional 867,996 shares during the last quarter. Finally, Capital World Investors bought a new position in Arcellx during the 4th quarter valued at about $19,393,000. 96.03% of the stock is owned by institutional investors.

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).