Arcellx, Inc. (NASDAQ:ACLX) Insider Christopher Heery Sells 3,553 Shares

Arcellx, Inc. (NASDAQ:ACLX) insider Christopher Heery sold 3,553 shares of the business’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $73.69, for a total value of $261,820.57. Following the sale, the insider now owns 25,085 shares in the company, valued at $1,848,513.65. The trade was a 12.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Monday, January 6th, Christopher Heery sold 3,061 shares of Arcellx stock. The stock was sold at an average price of $77.17, for a total transaction of $236,217.37.
• 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 Trading Down 4.4 %

Shares of ACLX opened at $69.08 on Monday. The firm has a market cap of $3.74 billion, a P/E ratio of -97.29 and a beta of 0.33. Arcellx, Inc. has a 12 month low of $47.88 and a 12 month high of $107.37. The stock’s 50 day moving average is $84.87 and its two-hundred day moving average is $75.83.

Arcellx (NASDAQ:ACLX) last issued its quarterly 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 analyst estimates of $35.21 million. Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. Equities research analysts forecast that Arcellx, Inc. will post -1.49 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Quest Partners LLC purchased a new stake in Arcellx during the 2nd quarter worth approximately $27,000. Decheng Capital LLC acquired a new stake in shares of Arcellx in the second quarter worth approximately $65,000. National Bank of Canada FI increased its position in shares of Arcellx by 50.0% during the second quarter. National Bank of Canada FI now owns 1,500 shares of the company’s stock worth $80,000 after purchasing an additional 500 shares in the last quarter. Quarry LP acquired a new position in Arcellx in the 3rd quarter valued at $125,000. Finally, Covestor Ltd lifted its holdings in Arcellx by 53,766.7% in the 3rd quarter. Covestor Ltd now owns 1,616 shares of the company’s stock valued at $135,000 after purchasing an additional 1,613 shares in the last quarter. Institutional investors and hedge funds own 96.03% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ACLX shares. Truist Financial upped their target price on Arcellx from $87.00 to $136.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. 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. Redburn Atlantic started coverage on Arcellx in a research report on Tuesday, October 8th. They issued a “buy” rating and a $109.00 target price on the stock. 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. Finally, Piper Sandler upped their price objective on shares of Arcellx from $91.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Thirteen investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target 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).