Christopher Heery Sells 3,301 Shares of Arcellx, Inc. (NASDAQ:ACLX) Stock

Arcellx, Inc. (NASDAQ:ACLX) insider Christopher Heery sold 3,301 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $79.55, for a total transaction of $262,594.55. Following the sale, the insider now owns 35,517 shares of the company’s stock, valued at $2,825,377.35. The trade was a 8.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, January 6th, Christopher Heery sold 3,061 shares of Arcellx stock. The shares were sold at an average price of $77.17, for a total value of $236,217.37.

Arcellx Price Performance

Shares of NASDAQ ACLX opened at $77.05 on Wednesday. Arcellx, Inc. has a one year low of $47.88 and a one year high of $107.37. The business’s 50-day moving average price is $85.75 and its two-hundred day moving average price is $75.64. The company has a market capitalization of $4.17 billion, a P/E ratio of -108.52 and a beta of 0.33.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. First Turn Management LLC bought a new stake in Arcellx in the third quarter worth $17,896,000. Charles Schwab Investment Management Inc. boosted its stake 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 worth $27,399,000 after acquiring an additional 14,200 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of Arcellx by 37.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 27,896 shares of the company’s stock valued at $2,330,000 after acquiring an additional 7,534 shares during the last quarter. Lord Abbett & CO. LLC raised its stake in shares of Arcellx by 2.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 891,848 shares of the company’s stock valued at $74,478,000 after acquiring an additional 18,004 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new stake in Arcellx in the 3rd quarter worth approximately $800,000. Institutional investors own 96.03% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Robert W. Baird upped their target price on Arcellx from $77.00 to $106.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Truist Financial raised their target price on shares of Arcellx from $87.00 to $136.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Piper Sandler boosted their price target on shares of Arcellx from $91.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Needham & Company LLC restated a “buy” rating and issued a $105.00 price target on shares of Arcellx in a research report on Monday, December 9th. Finally, HC Wainwright reiterated a “buy” rating and set a $115.00 price objective on shares of Arcellx in a research report on Tuesday, December 10th. Thirteen analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average 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).