Victory Capital Management Inc. Boosts Stake in Arcellx, Inc. (NASDAQ:ACLX)

Victory Capital Management Inc. raised its position in shares of Arcellx, Inc. (NASDAQ:ACLX) by 20.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 283,872 shares of the company’s stock after acquiring an additional 48,006 shares during the period. Victory Capital Management Inc. owned approximately 0.53% of Arcellx worth $15,667,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. National Bank of Canada FI boosted its position in shares of Arcellx by 50.0% in the second quarter. National Bank of Canada FI now owns 1,500 shares of the company’s stock worth $80,000 after buying an additional 500 shares during the period. TD Asset Management Inc boosted its position in shares of Arcellx by 36.9% in the second quarter. TD Asset Management Inc now owns 123,118 shares of the company’s stock worth $6,795,000 after buying an additional 33,200 shares during the period. Rhumbline Advisers boosted its position in shares of Arcellx by 14.3% in the second quarter. Rhumbline Advisers now owns 60,570 shares of the company’s stock worth $3,343,000 after buying an additional 7,568 shares during the period. Principal Financial Group Inc. boosted its position in shares of Arcellx by 1.4% in the second quarter. Principal Financial Group Inc. now owns 37,352 shares of the company’s stock worth $2,061,000 after buying an additional 517 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Arcellx by 34.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,811 shares of the company’s stock worth $376,000 after buying an additional 1,740 shares during the period. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Insider Transactions at Arcellx

In other news, insider Christopher Heery sold 20,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $55.39, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Christopher Heery sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Michelle Gilson sold 12,877 shares of the firm’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 value of $691,494.90. Following the completion of the sale, the chief financial officer now owns 6,915 shares in the company, valued at $371,335.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 114,505 shares of company stock worth $7,185,387. 6.24% of the stock is currently owned by company insiders.

Arcellx Stock Up 2.8 %

Shares of NASDAQ ACLX opened at $76.89 on Friday. The stock’s 50 day moving average price is $63.58 and its two-hundred day moving average price is $60.18. Arcellx, Inc. has a 52-week low of $30.88 and a 52-week high of $77.03. The stock has a market capitalization of $4.13 billion, a P/E ratio of -74.65 and a beta of 0.23.

Arcellx (NASDAQ:ACLX) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.51) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.01. The business had revenue of $27.38 million for the quarter, compared to analysts’ expectations of $22.04 million. Arcellx had a negative return on equity of 12.42% and a negative net margin of 37.23%. The firm’s revenue was up 91.5% compared to the same quarter last year. On average, analysts anticipate that Arcellx, Inc. will post -1.65 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ACLX. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcellx in a research report on Monday, September 9th. Needham & Company LLC reissued a “buy” rating and issued a $81.00 price target on shares of Arcellx in a report on Friday, August 9th. Truist Financial reissued a “buy” rating and issued a $87.00 price target on shares of Arcellx in a report on Tuesday, June 18th. Piper Sandler initiated coverage on Arcellx in a report on Friday, May 31st. They issued an “overweight” rating and a $70.00 price target for the company. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $85.00 price target on shares of Arcellx in a report on Monday, July 22nd. Fourteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus 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).