Perceptive Advisors LLC Reduces Stake in Arcellx, Inc. (NASDAQ:ACLX)

Perceptive Advisors LLC decreased its holdings in shares of Arcellx, Inc. (NASDAQ:ACLX) by 1.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 3,889,739 shares of the company’s stock after selling 43,817 shares during the period. Arcellx comprises approximately 5.1% of Perceptive Advisors LLC’s portfolio, making the stock its 3rd biggest holding. Perceptive Advisors LLC owned 0.07% of Arcellx worth $214,675,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Principal Financial Group Inc. increased its stake in Arcellx by 246.3% in the 1st quarter. Principal Financial Group Inc. now owns 36,835 shares of the company’s stock worth $2,562,000 after purchasing an additional 26,197 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Arcellx by 6.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,344,553 shares of the company’s stock valued at $93,514,000 after acquiring an additional 84,373 shares during the period. Seven Eight Capital LP acquired a new stake in shares of Arcellx during the first quarter valued at approximately $1,207,000. Bamco Inc. NY lifted its position in shares of Arcellx by 292.1% in the 1st quarter. Bamco Inc. NY now owns 248,993 shares of the company’s stock valued at $17,317,000 after acquiring an additional 185,493 shares in the last quarter. Finally, Advisory Alpha LLC acquired a new position in Arcellx in the 1st quarter worth approximately $209,000. Institutional investors own 96.03% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Michelle Gilson sold 15,000 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $77.73, for a total value of $1,165,950.00. Following the completion of the sale, the chief financial officer now 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 this link. In related news, Director Kavita Patel sold 1,500 shares of the company’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $56.63, for a total value of $84,945.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Michelle Gilson sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $77.73, for a total transaction of $1,165,950.00. Following the transaction, the chief financial officer now owns 6,915 shares of the company’s stock, valued at approximately $537,502.95. The disclosure for this sale can be found here. Insiders have sold 86,628 shares of company stock worth $6,009,342 in the last ninety days. Insiders own 6.24% of the company’s stock.

Arcellx Price Performance

ACLX stock opened at $82.76 on Monday. The company has a 50-day moving average of $68.40 and a two-hundred day moving average of $61.12. The stock has a market capitalization of $4.43 billion, a price-to-earnings ratio of -80.35 and a beta of 0.23. Arcellx, Inc. has a 52-week low of $30.88 and a 52-week high of $88.66.

Arcellx (NASDAQ:ACLX) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.51) EPS for the quarter, topping the consensus estimate 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 company had revenue of $27.38 million for the quarter, compared to the consensus estimate of $22.04 million. Arcellx’s quarterly revenue was up 91.5% on a year-over-year basis. Equities analysts expect that Arcellx, Inc. will post -1.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ACLX has been the subject of several recent analyst reports. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $85.00 target price on shares of Arcellx in a research report on Monday, July 22nd. Needham & Company LLC restated a “buy” rating and set a $81.00 price objective on shares of Arcellx in a research report on Friday, August 9th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcellx in a research note on Monday, September 9th. Finally, Truist Financial reissued a “buy” rating and issued a $87.00 price target on shares of Arcellx in a research report on Tuesday, June 18th. Fourteen 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 company currently has a consensus rating of “Buy” and an average price target of $78.00.

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).