E Fund Management Co. Ltd. Has $288,000 Stake in Arcellx, Inc. (NASDAQ:ACLX)

E Fund Management Co. Ltd. decreased its stake in Arcellx, Inc. (NASDAQ:ACLX) by 12.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,212 shares of the company’s stock after selling 774 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Arcellx were worth $288,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new position in Arcellx in the second quarter valued at about $27,000. Plato Investment Management Ltd acquired a new position in Arcellx in the first quarter valued at about $51,000. National Bank of Canada FI lifted its stake in Arcellx by 50.0% in the second quarter. National Bank of Canada FI now owns 1,500 shares of the company’s stock valued at $80,000 after buying an additional 500 shares during the period. Advisory Alpha LLC acquired a new position in Arcellx in the first quarter valued at about $209,000. Finally, Bleakley Financial Group LLC acquired a new position in Arcellx in the first quarter valued at about $232,000. Institutional investors and hedge funds own 96.03% of the company’s stock.

Arcellx Stock Performance

Shares of Arcellx stock opened at $80.55 on Thursday. The business’s 50 day simple moving average is $65.34 and its 200 day simple moving average is $60.46. Arcellx, Inc. has a 52-week low of $30.88 and a 52-week high of $82.97. The firm has a market cap of $4.31 billion, a PE ratio of -78.20 and a beta of 0.23.

Arcellx (NASDAQ:ACLX) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.51) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.01. The firm had revenue of $27.38 million during 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 firm’s quarterly revenue was up 91.5% on a year-over-year basis. As a group, equities research analysts predict that Arcellx, Inc. will post -1.65 EPS for the current year.

Insider Buying and Selling at Arcellx

In other Arcellx news, CFO Michelle Gilson sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $77.73, for a total value of $1,165,950.00. Following the completion of the transaction, the chief financial officer now directly owns 6,915 shares in the company, valued at $537,502.95. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Christopher Heery sold 20,000 shares of Arcellx 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 completion of the transaction, the insider now directly owns 9,278 shares in the company, valued at approximately $513,908.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michelle Gilson sold 15,000 shares of Arcellx stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $77.73, for a total value of $1,165,950.00. Following the transaction, the chief financial officer now owns 6,915 shares of the company’s stock, valued at $537,502.95. The disclosure for this sale can be found here. Insiders sold a total of 129,505 shares of company stock worth $8,351,337 over the last ninety days. 6.24% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcellx in a research report on Monday, September 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $81.00 price target on shares of Arcellx in a research report on Friday, August 9th. Truist Financial reaffirmed a “buy” rating and set a $87.00 price target on shares of Arcellx in a research report on Tuesday, June 18th. Piper Sandler assumed coverage on Arcellx in a research report on Friday, May 31st. They set an “overweight” rating and a $70.00 price target on the stock. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $85.00 price target on shares of Arcellx in a research report on Monday, July 22nd. Fourteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Arcellx has an average rating of “Buy” and a consensus target price 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).