Integrated Wealth Concepts LLC Has $291,000 Stock Position in Arcellx, Inc. (NASDAQ:ACLX)

Integrated Wealth Concepts LLC lessened its holdings in Arcellx, Inc. (NASDAQ:ACLX) by 7.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,490 shares of the company’s stock after selling 285 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Arcellx were worth $291,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its position in shares of Arcellx by 21.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 147,198 shares of the company’s stock worth $8,124,000 after purchasing an additional 26,134 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Arcellx by 37.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 15,928 shares of the company’s stock worth $879,000 after buying an additional 4,372 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Arcellx by 34.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,811 shares of the company’s stock worth $376,000 after buying an additional 1,740 shares during the period. Principal Financial Group Inc. increased its stake in shares of Arcellx by 1.4% in the 2nd quarter. Principal Financial Group Inc. now owns 37,352 shares of the company’s stock valued at $2,061,000 after acquiring an additional 517 shares during the last quarter. Finally, Rhumbline Advisers raised its position in shares of 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 acquiring an additional 7,568 shares during the period. Institutional investors own 96.03% of the company’s stock.

Arcellx Price Performance

Shares of NASDAQ ACLX opened at $83.42 on Friday. Arcellx, Inc. has a fifty-two week low of $47.88 and a fifty-two week high of $107.37. The stock has a market capitalization of $4.51 billion, a price-to-earnings ratio of -117.49 and a beta of 0.25. The business has a 50-day moving average of $88.82 and a 200-day moving average of $72.20.

Arcellx (NASDAQ:ACLX) last posted its quarterly earnings results 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 firm had revenue of $26.03 million for the quarter, compared to analyst estimates of $35.21 million. On average, sell-side analysts expect that Arcellx, Inc. will post -1.49 EPS for the current year.

Insider Transactions at Arcellx

In related 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 transaction of $1,165,950.00. Following the completion of the sale, the chief financial officer now directly owns 6,915 shares of the company’s stock, valued at approximately $537,502.95. This trade represents a 68.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kavita Patel sold 1,500 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $89.69, for a total transaction of $134,535.00. The disclosure for this sale can be found here. In the last three months, insiders sold 67,001 shares of company stock worth $6,568,393. 6.24% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have commented on ACLX shares. Piper Sandler upped their target price on shares of Arcellx from $91.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Robert W. Baird raised their price objective on Arcellx from $77.00 to $106.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. UBS Group boosted their target price on Arcellx from $106.00 to $114.00 and gave the company a “buy” rating in a research note on Tuesday. Truist Financial raised their price target on Arcellx from $87.00 to $136.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, Redburn Atlantic initiated coverage on Arcellx in a research report on Tuesday, October 8th. They issued a “buy” rating and a $109.00 price objective for the company. Thirteen research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $105.93.

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).