Thrivent Financial for Lutherans Sells 3,515 Shares of Arcellx, Inc. (NASDAQ:ACLX)

Thrivent Financial for Lutherans lowered its position in shares of Arcellx, Inc. (NASDAQ:ACLX) by 5.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 64,025 shares of the company’s stock after selling 3,515 shares during the period. Thrivent Financial for Lutherans owned 0.12% of Arcellx worth $3,533,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in ACLX. Vestal Point Capital LP bought a new position in Arcellx during the 4th quarter worth $3,330,000. PFM Health Sciences LP increased its position in Arcellx by 39.5% during the fourth quarter. PFM Health Sciences LP now owns 335,198 shares of the company’s stock worth $18,603,000 after acquiring an additional 94,860 shares during the period. Perceptive Advisors LLC raised its stake in Arcellx by 14.6% in the 4th quarter. Perceptive Advisors LLC now owns 4,544,809 shares of the company’s stock worth $252,237,000 after purchasing an additional 578,831 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Arcellx by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 2,061,819 shares of the company’s stock valued at $114,431,000 after purchasing an additional 23,262 shares during the period. Finally, High Net Worth Advisory Group LLC grew its position in shares of Arcellx by 14.3% during the 1st quarter. High Net Worth Advisory Group LLC now owns 8,000 shares of the company’s stock worth $556,000 after purchasing an additional 1,000 shares in the last quarter. 96.03% of the stock is owned by institutional investors and hedge funds.

Arcellx Stock Performance

Shares of NASDAQ:ACLX opened at $82.76 on Friday. Arcellx, Inc. has a 52-week low of $30.88 and a 52-week high of $88.66. The company has a market capitalization of $4.43 billion, a PE ratio of -80.35 and a beta of 0.23. The company has a fifty day moving average of $68.40 and a 200-day moving average of $61.23.

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

Insider Buying and Selling at Arcellx

In related news, insider Christopher Heery sold 20,000 shares of the business’s stock in a transaction 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 owns 9,278 shares of the company’s stock, valued at $513,908.42. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Christopher Heery sold 20,000 shares of the company’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 $513,908.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kavita Patel sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $56.63, for a total transaction of $84,945.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 106,628 shares of company stock worth $7,117,142. 6.24% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

ACLX has been the subject of a number of analyst reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $85.00 price target on shares of Arcellx in a research report on Monday, July 22nd. 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. Truist Financial reissued a “buy” rating and set a $87.00 target price on shares of Arcellx in a report on Tuesday, June 18th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcellx in a research report on Monday, September 9th. Fourteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently 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).