abrdn plc Takes $4.24 Million Position in Arcellx, Inc. (NASDAQ:ACLX)

abrdn plc acquired a new position in shares of Arcellx, Inc. (NASDAQ:ACLX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 50,796 shares of the company’s stock, valued at approximately $4,242,000. abrdn plc owned approximately 0.09% of Arcellx as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Arcellx by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 2,061,819 shares of the company’s stock worth $114,431,000 after buying an additional 23,262 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in Arcellx in the 1st quarter valued at $804,000. Advisory Alpha LLC purchased a new position in shares of Arcellx during the 1st quarter valued at $209,000. Sei Investments Co. increased its holdings in shares of Arcellx by 36.3% in the first quarter. Sei Investments Co. now owns 14,836 shares of the company’s stock worth $1,032,000 after purchasing an additional 3,951 shares during the period. Finally, Russell Investments Group Ltd. raised its position in shares of Arcellx by 3.1% in the first quarter. Russell Investments Group Ltd. now owns 195,437 shares of the company’s stock worth $13,593,000 after buying an additional 5,895 shares in the last quarter. Institutional investors own 96.03% of the company’s stock.

Insider Buying and Selling at Arcellx

In related news, insider Christopher Heery sold 27,451 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $67.03, for a total value of $1,840,040.53. Following the sale, the insider now directly owns 9,278 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available through this link. In other Arcellx news, insider Christopher Heery sold 27,451 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $67.03, for a total transaction 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 $621,904.34. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 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 approximately $537,502.95. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,556 shares of company stock worth $5,033,845. 6.24% of the stock is currently owned by company insiders.

Arcellx Price Performance

Shares of Arcellx stock opened at $86.17 on Monday. Arcellx, Inc. has a one year low of $35.01 and a one year high of $97.54. The business’s 50 day simple moving average is $80.61 and its two-hundred day simple moving average is $64.68. The stock has a market capitalization of $4.63 billion, a P/E ratio of -82.86 and a beta of 0.27.

Arcellx (NASDAQ:ACLX) last issued its 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. The company had revenue of $27.38 million for the quarter, compared to the consensus estimate of $22.04 million. Arcellx had a negative net margin of 37.23% and a negative return on equity of 12.42%. Arcellx’s revenue was up 91.5% on a year-over-year basis. Sell-side analysts expect that Arcellx, Inc. will post -1.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $96.00 target price on shares of Arcellx in a research note on Thursday. Cantor Fitzgerald restated an “overweight” rating on shares of Arcellx in a research report on Monday, September 9th. Stifel Nicolaus raised their target price on shares of Arcellx from $83.00 to $122.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Redburn Atlantic assumed coverage on shares of Arcellx in a report on Tuesday, October 8th. They issued a “buy” rating and a $109.00 price target on the stock. Finally, Canaccord Genuity Group lifted their price objective on shares of Arcellx from $85.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Twelve research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price 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).