Michelle Gilson Sells 12,877 Shares of Arcellx, Inc. (NASDAQ:ACLX) Stock

Arcellx, Inc. (NASDAQ:ACLX) CFO Michelle Gilson sold 12,877 shares of Arcellx stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $53.70, for a total transaction of $691,494.90. Following the sale, the chief financial officer now owns 6,915 shares of the company’s stock, valued at $371,335.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Michelle Gilson also recently made the following trade(s):

• On Friday, May 24th, Michelle Gilson sold 12,121 shares of Arcellx stock. The stock was sold at an average price of $50.71, for a total transaction of $614,655.91.

Arcellx Stock Performance

Shares of NASDAQ:ACLX opened at $55.19 on Friday. The company has a market cap of $2.95 billion, a P/E ratio of -53.58 and a beta of 0.23. The business’s 50-day simple moving average is $52.82 and its 200 day simple moving average is $58.28. Arcellx, Inc. has a one year low of $30.74 and a one year high of $75.10.

Arcellx (NASDAQ:ACLX) last released its quarterly 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 net margin of 38.39% and a negative return on equity of 13.11%. The business had revenue of $39.26 million during the quarter, compared to analyst estimates of $20.67 million. During the same period last year, the business earned ($0.58) EPS. The business’s revenue was up 119.2% on a year-over-year basis. Analysts predict that Arcellx, Inc. will post -1.7 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ACLX. Jump Financial LLC acquired a new stake in shares of Arcellx during the fourth quarter worth approximately $843,000. DekaBank Deutsche Girozentrale lifted its position in shares of Arcellx by 87.5% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 30,000 shares of the company’s stock worth $1,706,000 after purchasing an additional 14,000 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Arcellx by 425.0% during the fourth quarter. Victory Capital Management Inc. now owns 155,652 shares of the company’s stock worth $8,639,000 after purchasing an additional 126,002 shares during the last quarter. Graham Capital Management L.P. increased its holdings in Arcellx by 34.5% in the third quarter. Graham Capital Management L.P. now owns 16,826 shares of the company’s stock valued at $604,000 after buying an additional 4,312 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Arcellx by 2.2% during the third quarter. Vanguard Group Inc. now owns 2,038,557 shares of the company’s stock valued at $73,143,000 after buying an additional 43,970 shares in the last quarter. Institutional investors and hedge funds own 96.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Evercore ISI started coverage on Arcellx in a research report on Tuesday, May 14th. They issued an “outperform” rating and a $85.00 price objective for the company. Morgan Stanley began coverage on shares of Arcellx in a report on Thursday, March 7th. They set an “overweight” rating and a $81.00 price objective on the stock. HC Wainwright lowered their target price on shares of Arcellx from $82.00 to $80.00 and set a “buy” rating for the company in a report on Monday, May 13th. Scotiabank reaffirmed an “outperform” rating and set a $82.00 price target on shares of Arcellx in a research note on Thursday, April 4th. Finally, Stifel Nicolaus upped their price objective on Arcellx from $82.00 to $83.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Thirteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $78.00.

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).