Bank of New York Mellon Corp Acquires 26,134 Shares of Arcellx, Inc. (NASDAQ:ACLX)

Bank of New York Mellon Corp raised its holdings in Arcellx, Inc. (NASDAQ:ACLX) by 21.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 147,198 shares of the company’s stock after buying an additional 26,134 shares during the quarter. Bank of New York Mellon Corp owned 0.28% of Arcellx worth $8,124,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ACLX. Perceptive Advisors LLC lifted its position in shares of Arcellx by 14.6% during the 4th quarter. Perceptive Advisors LLC now owns 4,544,809 shares of the company’s stock valued at $252,237,000 after acquiring an additional 578,831 shares during the period. Vanguard Group Inc. raised its holdings in shares of Arcellx by 8.1% during the first quarter. Vanguard Group Inc. now owns 2,228,856 shares of the company’s stock valued at $155,017,000 after purchasing an additional 167,037 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Arcellx by 6.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,344,553 shares of the company’s stock worth $93,514,000 after purchasing an additional 84,373 shares in the last quarter. PFM Health Sciences LP grew its stake in shares of Arcellx by 39.5% in the 4th quarter. PFM Health Sciences LP now owns 335,198 shares of the company’s stock valued at $18,603,000 after buying an additional 94,860 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Arcellx by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 264,178 shares of the company’s stock valued at $14,662,000 after buying an additional 3,722 shares in the last quarter. 96.03% of the stock is currently owned by institutional investors.

Arcellx Stock Performance

ACLX opened at $74.19 on Wednesday. Arcellx, Inc. has a fifty-two week low of $30.88 and a fifty-two week high of $76.72. The firm has a 50-day moving average of $62.37 and a 200 day moving average of $59.89. The firm has a market cap of $3.99 billion, a P/E ratio of -72.03 and a beta of 0.23.

Arcellx (NASDAQ:ACLX) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.51) EPS for the quarter, beating the consensus estimate of ($0.52) by $0.01. The business had revenue of $27.38 million for the quarter, compared to the consensus estimate of $22.04 million. Arcellx had a negative return on equity of 12.42% and a negative net margin of 37.23%. The company’s revenue was up 91.5% on a year-over-year basis. Equities research analysts predict that Arcellx, Inc. will post -1.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Canaccord Genuity Group reiterated a “buy” rating and issued a $85.00 price target on shares of Arcellx in a report on Monday, July 22nd. Stifel Nicolaus boosted their price target on shares of Arcellx from $82.00 to $83.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Evercore ISI assumed coverage on shares of Arcellx in a research note on Tuesday, May 14th. They issued an “outperform” rating and a $85.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Arcellx in a research report on Monday. Finally, Truist Financial reaffirmed a “buy” rating and issued a $87.00 price target on shares of Arcellx in a research report on Tuesday, June 18th. Fourteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $78.00.

Insiders Place Their Bets

In related news, CFO Michelle Gilson sold 12,877 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $53.70, for a total transaction of $691,494.90. Following the sale, the chief financial officer now directly owns 6,915 shares in the company, valued at approximately $371,335.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Arcellx news, insider Christopher Heery sold 20,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $55.39, for a total value of $1,107,800.00. Following the sale, the insider now directly owns 9,278 shares in the company, valued at approximately $513,908.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michelle Gilson sold 12,877 shares of the company’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $53.70, for a total transaction of $691,494.90. Following the completion of the transaction, the chief financial officer now directly owns 6,915 shares in the company, valued at approximately $371,335.50. The disclosure for this sale can be found here. Insiders sold 113,005 shares of company stock worth $7,073,772 over the last quarter. 6.24% of the stock is currently owned by company insiders.

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).