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

Arcellx, Inc. (NASDAQ:ACLX) Director Kavita Patel sold 1,500 shares of Arcellx stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $63.16, for a total transaction of $94,740.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Tuesday, February 4th, Kavita Patel sold 1,500 shares of Arcellx stock. The shares were 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 value 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 value 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 Performance

Arcellx stock opened at $60.26 on Thursday. Arcellx, Inc. has a fifty-two week low of $47.88 and a fifty-two week high of $107.37. The company has a market capitalization of $3.26 billion, a PE ratio of -84.87 and a beta of 0.29. The company has a 50 day moving average price of $69.01 and a 200-day moving average price of $77.44.

Analysts Set New Price Targets

A number of brokerages have commented on ACLX. Morgan Stanley lifted their price objective on shares of Arcellx from $81.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Robert W. Baird lifted their price target on Arcellx from $77.00 to $106.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Piper Sandler upped their price objective on Arcellx from $91.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Needham & Company LLC reiterated a “buy” rating and issued a $105.00 target price on shares of Arcellx in a report on Monday, December 9th. Finally, Barclays upgraded Arcellx to a “strong-buy” rating in a report on Friday, November 29th. Thirteen investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Arcellx has an average rating of “Buy” and a consensus target price of $105.93.

Institutional Investors Weigh In On Arcellx

Several hedge funds have recently made changes to their positions in ACLX. Headlands Technologies LLC bought a new stake in shares of Arcellx in the fourth quarter valued at about $41,000. GF Fund Management CO. LTD. purchased a new stake in shares of Arcellx in the 4th quarter worth approximately $87,000. KBC Group NV lifted its position in shares of Arcellx by 37.3% in the 4th quarter. KBC Group NV now owns 1,388 shares of the company’s stock worth $106,000 after purchasing an additional 377 shares during the period. Quarry LP bought a new position in shares of Arcellx during the third quarter valued at approximately $125,000. Finally, Quest Partners LLC raised its stake in 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. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

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).