Allspring Global Investments Holdings LLC Sells 8,980 Shares of Arcellx, Inc. (NASDAQ:ACLX)

Allspring Global Investments Holdings LLC lessened its position in shares of Arcellx, Inc. (NASDAQ:ACLX) by 56.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,948 shares of the company’s stock after selling 8,980 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Arcellx were worth $580,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Arcellx

In other news, insider Christopher Heery sold 27,451 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $67.03, for a total value of $1,840,040.53. Following the completion of the transaction, the insider now owns 9,278 shares of the company’s stock, valued at approximately $621,904.34. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Christopher Heery sold 27,451 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $67.03, for a total value of $1,840,040.53. Following the completion of the transaction, the insider now owns 9,278 shares of the company’s stock, valued at approximately $621,904.34. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 transaction of $1,165,950.00. Following the completion of the transaction, the chief financial officer now owns 6,915 shares of the company’s stock, valued at $537,502.95. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 70,556 shares of company stock worth $5,033,845 over the last three months. Insiders own 6.24% of the company’s stock.

Arcellx Price Performance

Shares of ACLX opened at $86.17 on Friday. Arcellx, Inc. has a 1-year low of $35.01 and a 1-year high of $97.54. The stock has a market cap of $4.63 billion, a PE ratio of -82.86 and a beta of 0.25. The firm has a 50-day simple moving average of $80.27 and a two-hundred day simple moving average of $64.33.

Arcellx (NASDAQ:ACLX) last announced 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. Arcellx had a negative net margin of 37.23% and a negative return on equity of 12.42%. The business had revenue of $27.38 million during the quarter, compared to analysts’ expectations of $22.04 million. Arcellx’s quarterly revenue was up 91.5% on a year-over-year basis. As a group, sell-side analysts expect that Arcellx, Inc. will post -1.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on ACLX shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $96.00 price objective on shares of Arcellx in a report on Thursday. Stifel Nicolaus upped their price objective on shares of Arcellx from $83.00 to $122.00 and gave the company a “buy” rating in a report on Friday, October 18th. Redburn Atlantic started coverage on shares of Arcellx in a report on Tuesday, October 8th. They issued a “buy” rating and a $109.00 price objective on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcellx in a report on Monday, September 9th. Finally, Canaccord Genuity Group upped their price objective on shares of Arcellx from $85.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Twelve 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 data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $89.75.

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).