Arcellx, Inc. (NASDAQ:ACLX) Insider Christopher Heery Sells 3,061 Shares

Arcellx, Inc. (NASDAQ:ACLX) insider Christopher Heery sold 3,061 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $77.17, for a total transaction of $236,217.37. Following the completion of the sale, the insider now directly owns 32,456 shares of the company’s stock, valued at $2,504,629.52. The trade was a 8.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Christopher Heery also recently made the following trade(s):

• On Friday, January 3rd, Christopher Heery sold 3,301 shares of Arcellx stock. The stock was sold at an average price of $79.55, for a total transaction of $262,594.55.

Arcellx Stock Performance

Shares of ACLX stock opened at $75.01 on Tuesday. Arcellx, Inc. has a fifty-two week low of $47.88 and a fifty-two week high of $107.37. The firm has a market capitalization of $4.06 billion, a PE ratio of -105.65 and a beta of 0.33. The stock’s 50-day simple moving average is $85.95 and its 200-day simple moving average is $75.49.

Arcellx (NASDAQ:ACLX) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.48) earnings per share 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. Sell-side analysts forecast that Arcellx, Inc. will post -1.49 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Quest Partners LLC purchased a new stake in Arcellx in the second quarter valued at $27,000. Decheng Capital LLC acquired a new stake in Arcellx during the second quarter worth about $65,000. National Bank of Canada FI raised its position in Arcellx by 50.0% during the second quarter. National Bank of Canada FI now owns 1,500 shares of the company’s stock valued at $80,000 after acquiring an additional 500 shares in the last quarter. Quarry LP acquired a new position in Arcellx in the third quarter valued at approximately $125,000. Finally, Covestor Ltd boosted its position in Arcellx by 53,766.7% in the 3rd quarter. Covestor Ltd now owns 1,616 shares of the company’s stock worth $135,000 after purchasing an additional 1,613 shares in the last quarter. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ACLX. Redburn Atlantic began coverage on Arcellx in a report on Tuesday, October 8th. They issued a “buy” rating and a $109.00 price target on the stock. Canaccord Genuity Group lifted their target price on Arcellx from $85.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. HC Wainwright reissued a “buy” rating and set a $115.00 price target on shares of Arcellx in a research report on Tuesday, December 10th. Barclays raised shares of Arcellx to a “strong-buy” rating in a research report on Friday, November 29th. Finally, Truist Financial increased their target price on shares of Arcellx from $87.00 to $136.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Thirteen investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus 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).