Arcellx, Inc. (NASDAQ:ACLX) Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP lifted its stake in Arcellx, Inc. (NASDAQ:ACLX) by 15.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,968 shares of the company’s stock after acquiring an additional 2,768 shares during the period. Wellington Management Group LLP’s holdings in Arcellx were worth $1,751,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in ACLX. Janus Henderson Group PLC lifted its position in Arcellx by 5.7% in the third quarter. Janus Henderson Group PLC now owns 2,011,950 shares of the company’s stock worth $168,026,000 after purchasing an additional 109,332 shares during the period. RA Capital Management L.P. grew its holdings in Arcellx by 15.4% during the third quarter. RA Capital Management L.P. now owns 1,851,479 shares of the company’s stock worth $154,617,000 after acquiring an additional 247,465 shares during the period. Great Point Partners LLC raised its position in Arcellx by 64.0% in the second 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 in the last quarter. Affinity Asset Advisors LLC lifted its holdings in Arcellx by 53.3% in the 2nd quarter. Affinity Asset Advisors LLC now owns 460,000 shares of the company’s stock valued at $25,387,000 after acquiring an additional 160,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Arcellx by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 328,093 shares of the company’s stock valued at $27,399,000 after purchasing an additional 14,200 shares in the last quarter. 96.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Arcellx news, Director Kavita Patel sold 15,238 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $105.92, for a total transaction of $1,614,008.96. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 52,001 shares of company stock valued at $5,402,443 over the last three months. 6.24% of the stock is currently owned by insiders.

Arcellx Price Performance

ACLX opened at $75.43 on Thursday. The company has a market capitalization of $4.08 billion, a PE ratio of -106.24 and a beta of 0.25. The business has a 50-day moving average of $89.10 and a 200-day moving average of $73.16. Arcellx, Inc. has a fifty-two week low of $47.88 and a fifty-two week high of $107.37.

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

Analysts Set New Price Targets

ACLX has been the topic of a number of research reports. Bank of America boosted their target price on shares of Arcellx from $84.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Barclays upgraded Arcellx to a “strong-buy” rating in a research report on Friday, November 29th. UBS Group lifted their target price on Arcellx from $106.00 to $114.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $105.00 target price on shares of Arcellx in a research report on Monday, December 9th. Finally, Canaccord Genuity Group increased their price target on Arcellx from $85.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Thirteen investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $105.93.

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).