Arcellx, Inc. (NASDAQ:ACLX) Shares Acquired by Quest Partners LLC

Quest Partners LLC boosted its holdings in Arcellx, Inc. (NASDAQ:ACLX) by 210.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,532 shares of the company’s stock after purchasing an additional 1,038 shares during the quarter. Quest Partners LLC’s holdings in Arcellx were worth $128,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. increased its position in Arcellx by 37.0% in the third quarter. Harbor Capital Advisors Inc. now owns 27,896 shares of the company’s stock worth $2,330,000 after buying an additional 7,534 shares during the period. Renaissance Technologies LLC bought a new position in shares of Arcellx during the second quarter worth about $1,494,000. Great Point Partners LLC increased its holdings in shares of Arcellx by 64.0% in the 2nd quarter. Great Point Partners LLC now owns 492,000 shares of the company’s stock worth $27,153,000 after acquiring an additional 192,000 shares during the period. Rhumbline Advisers lifted its position in Arcellx by 14.3% in the 2nd quarter. Rhumbline Advisers now owns 60,570 shares of the company’s stock valued at $3,343,000 after purchasing an additional 7,568 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in Arcellx during the 3rd quarter valued at about $1,005,000. Institutional investors and hedge funds own 96.03% of the company’s stock.

Insider Buying and Selling at Arcellx

In other Arcellx news, insider Christopher Heery sold 3,421 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $70.02, for a total transaction of $239,538.42. Following the completion of the sale, the insider now directly owns 9,278 shares of the company’s stock, valued at approximately $649,645.56. The trade was a 26.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kavita Patel sold 33,763 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $104.14, for a total transaction of $3,516,078.82. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 97,873 shares of company stock valued at $8,621,767. 6.24% of the stock is currently owned by corporate insiders.

Arcellx Stock Down 2.1 %

Shares of NASDAQ:ACLX opened at $89.07 on Friday. The business has a 50 day moving average price of $87.97 and a 200 day moving average price of $69.69. The company has a market cap of $4.82 billion, a price-to-earnings ratio of -125.45 and a beta of 0.27. Arcellx, Inc. has a twelve month low of $46.42 and a twelve month high of $107.37.

Arcellx (NASDAQ:ACLX) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.54) by $0.06. Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. The company had revenue of $26.03 million for the quarter, compared to the consensus estimate of $35.21 million. Analysts anticipate that Arcellx, Inc. will post -1.49 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ACLX. Stifel Nicolaus increased their price objective on Arcellx from $83.00 to $122.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Bank of America increased their price target on Arcellx from $84.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Truist Financial lifted their price objective on shares of Arcellx from $87.00 to $136.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. 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 for the company. Finally, HC Wainwright raised their target price on shares of Arcellx from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Thirteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $103.08.

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).