Arcellx, Inc. (NASDAQ:ACLX) is Great Point Partners LLC’s 6th Largest Position

Great Point Partners LLC grew its stake in shares of Arcellx, Inc. (NASDAQ:ACLX) by 64.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 492,000 shares of the company’s stock after acquiring an additional 192,000 shares during the period. Arcellx accounts for approximately 5.2% of Great Point Partners LLC’s portfolio, making the stock its 6th largest holding. Great Point Partners LLC’s holdings in Arcellx were worth $27,153,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Quest Partners LLC bought a new position in shares of Arcellx in the second quarter valued at approximately $27,000. Plato Investment Management Ltd purchased a new stake in Arcellx in the 1st quarter worth approximately $51,000. National Bank of Canada FI lifted its stake in Arcellx by 50.0% in the 2nd quarter. National Bank of Canada FI now owns 1,500 shares of the company’s stock worth $80,000 after purchasing an additional 500 shares in the last quarter. Public Employees Retirement Association of Colorado bought a new position in Arcellx in the 2nd quarter valued at $178,000. Finally, Advisory Alpha LLC purchased a new position in shares of Arcellx during the 1st quarter valued at $209,000. 96.03% of the stock is owned by institutional investors.

Insider Activity at Arcellx

In other Arcellx news, CFO Michelle Gilson sold 12,877 shares of the stock in a transaction that occurred on Wednesday, June 26th. The stock was 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 approximately $371,335.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Arcellx news, Director Kavita Patel sold 1,500 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $74.41, for a total transaction of $111,615.00. The sale was disclosed in a 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 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 completion of the sale, the chief financial officer now directly owns 6,915 shares of the company’s stock, valued at $371,335.50. The disclosure for this sale can be found here. Insiders have sold a total of 129,505 shares of company stock worth $8,351,337 in the last 90 days. Company insiders own 6.24% of the company’s stock.

Wall Street Analyst Weigh In

ACLX has been the topic of a number of recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcellx in a research report on Monday, September 9th. Truist Financial reaffirmed 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 set an “overweight” rating and a $70.00 price objective for the company. Canaccord Genuity Group restated a “buy” rating and issued a $85.00 price objective on shares of Arcellx in a research report on Monday, July 22nd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $81.00 target price on shares of Arcellx in a research report on Friday, August 9th. Fourteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Arcellx currently has an average rating of “Buy” and an average target price of $78.00.

Arcellx Stock Down 0.7 %

Shares of NASDAQ ACLX opened at $85.98 on Tuesday. The firm’s fifty day moving average is $66.80 and its 200 day moving average is $60.72. Arcellx, Inc. has a 52 week low of $30.88 and a 52 week high of $88.66. The company has a market cap of $4.60 billion, a price-to-earnings ratio of -83.48 and a beta of 0.23.

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

Arcellx Company 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).