Goldman Sachs Group Inc. Sells 519,165 Shares of Arcellx, Inc. (NASDAQ:ACLX)

Goldman Sachs Group Inc. cut its stake in Arcellx, Inc. (NASDAQ:ACLX) by 59.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 355,693 shares of the company’s stock after selling 519,165 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Arcellx were worth $19,741,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the stock. Perceptive Advisors LLC grew its position in shares of Arcellx by 14.6% in the fourth quarter. Perceptive Advisors LLC now owns 4,544,809 shares of the company’s stock valued at $252,237,000 after purchasing an additional 578,831 shares in the last quarter. PFM Health Sciences LP grew its position in shares of Arcellx by 39.5% in the fourth quarter. PFM Health Sciences LP now owns 335,198 shares of the company’s stock valued at $18,603,000 after purchasing an additional 94,860 shares in the last quarter. Vestal Point Capital LP purchased a new position in shares of Arcellx in the fourth quarter valued at $3,330,000. Jump Financial LLC purchased a new position in shares of Arcellx in the fourth quarter valued at $843,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Arcellx by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 264,178 shares of the company’s stock valued at $14,662,000 after purchasing an additional 3,722 shares in the last quarter. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Christopher Heery sold 20,000 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $55.13, for a total value of $1,102,600.00. Following the completion of the sale, the insider now owns 9,278 shares of the company’s stock, valued at approximately $511,496.14. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Arcellx news, insider Rami Elghandour sold 23,086 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $67.09, for a total value of $1,548,839.74. Following the completion of the sale, the insider now owns 69,253 shares in the company, valued at approximately $4,646,183.77. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Christopher Heery sold 20,000 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $55.13, for a total value of $1,102,600.00. Following the completion of the sale, the insider now owns 9,278 shares of the company’s stock, valued at approximately $511,496.14. The disclosure for this sale can be found here. In the last quarter, insiders sold 82,777 shares of company stock valued at $4,720,940. Insiders own 6.24% of the company’s stock.

Arcellx Stock Down 0.2 %

Shares of ACLX stock opened at $53.66 on Thursday. Arcellx, Inc. has a 12-month low of $30.74 and a 12-month high of $75.10. The business has a 50-day moving average price of $52.76 and a two-hundred day moving average price of $58.21. The firm has a market cap of $2.87 billion, a P/E ratio of -52.10 and a beta of 0.23.

Arcellx (NASDAQ:ACLX) last released its earnings results on Thursday, May 9th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.37. Arcellx had a negative return on equity of 13.11% and a negative net margin of 38.39%. The company had revenue of $39.26 million during the quarter, compared to analyst estimates of $20.67 million. During the same quarter in the previous year, the company posted ($0.58) EPS. Arcellx’s revenue for the quarter was up 119.2% on a year-over-year basis. As a group, research analysts expect that Arcellx, Inc. will post -1.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on ACLX. Piper Sandler began coverage on Arcellx in a research report on Friday, May 31st. They set an “overweight” rating and a $70.00 target price for the company. Morgan Stanley began coverage on Arcellx in a research report on Thursday, March 7th. They set an “overweight” rating and a $81.00 target price for the company. Truist Financial restated a “buy” rating and set a $87.00 target price on shares of Arcellx in a research report on Tuesday, June 18th. Needham & Company LLC restated a “buy” rating and set a $81.00 target price on shares of Arcellx in a research report on Tuesday, May 7th. Finally, Evercore ISI began coverage on Arcellx in a research report on Tuesday, May 14th. They set an “outperform” rating and a $85.00 target price for the company. Thirteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $78.00.

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).