Public Employees Retirement Association of Colorado Buys New Holdings in Arcellx, Inc. (NASDAQ:ACLX)

Public Employees Retirement Association of Colorado bought a new stake in Arcellx, Inc. (NASDAQ:ACLX) during the second quarter, Holdings Channel reports. The fund bought 3,217 shares of the company’s stock, valued at approximately $178,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ACLX. Renaissance Technologies LLC purchased a new position in Arcellx in the second quarter valued at about $1,494,000. WINTON GROUP Ltd purchased a new position in Arcellx in the second quarter valued at about $484,000. State of New Jersey Common Pension Fund D purchased a new position in Arcellx in the second quarter valued at about $649,000. Quest Partners LLC purchased a new position in Arcellx in the second quarter valued at about $27,000. Finally, Arizona State Retirement System raised its position in Arcellx by 14.0% in the second quarter. Arizona State Retirement System now owns 8,950 shares of the company’s stock valued at $494,000 after purchasing an additional 1,101 shares during the period. Institutional investors and hedge funds own 96.03% of the company’s stock.

Arcellx Stock Down 1.6 %

Shares of Arcellx stock opened at $82.76 on Monday. The firm has a market cap of $4.43 billion, a P/E ratio of -80.35 and a beta of 0.23. Arcellx, Inc. has a fifty-two week low of $30.88 and a fifty-two week high of $88.66. The business has a 50-day moving average price of $68.40 and a 200 day moving average price of $61.12.

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

Insider Buying and Selling at Arcellx

In other Arcellx news, Director Kavita Patel sold 1,500 shares of Arcellx stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $56.63, for a total value of $84,945.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Arcellx news, 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 completion of the transaction, the chief financial officer now directly owns 6,915 shares in the company, valued at $537,502.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kavita Patel sold 1,500 shares of Arcellx stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $56.63, for a total value of $84,945.00. The disclosure for this sale can be found here. Insiders sold a total of 86,628 shares of company stock worth $6,009,342 over the last ninety days. Company insiders own 6.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on ACLX. Needham & Company LLC reissued a “buy” rating and issued 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 report on Monday, September 9th. Truist Financial reaffirmed a “buy” rating and set a $87.00 target price on shares of Arcellx in a research report on Tuesday, June 18th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $85.00 target price on shares of Arcellx in a research report on Monday, July 22nd. Fourteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average 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).