Raymond James Financial Inc. Makes New Investment in Arcellx, Inc. (NASDAQ:ACLX)

Raymond James Financial Inc. acquired a new position in Arcellx, Inc. (NASDAQ:ACLX) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 130,601 shares of the company’s stock, valued at approximately $10,016,000.

Several other large investors also recently bought and sold shares of ACLX. Charles Schwab Investment Management Inc. boosted its stake in shares of Arcellx by 4.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 343,085 shares of the company’s stock valued at $26,311,000 after acquiring an additional 14,992 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Arcellx during the fourth quarter valued at $316,000. Bank of New York Mellon Corp boosted its stake in shares of Arcellx by 23.4% during the fourth quarter. Bank of New York Mellon Corp now owns 144,409 shares of the company’s stock valued at $11,075,000 after acquiring an additional 27,350 shares during the last quarter. HealthInvest Partners AB boosted its stake in shares of Arcellx by 4.6% during the fourth quarter. HealthInvest Partners AB now owns 42,071 shares of the company’s stock valued at $3,296,000 after acquiring an additional 1,841 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its stake in shares of Arcellx by 98.1% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 7,735 shares of the company’s stock valued at $593,000 after acquiring an additional 3,831 shares during the last quarter. Institutional investors and hedge funds own 96.03% of the company’s stock.

Arcellx Stock Performance

Shares of ACLX stock opened at $69.33 on Friday. Arcellx, Inc. has a 1 year low of $47.88 and a 1 year high of $107.37. The stock has a fifty day moving average of $66.56 and a two-hundred day moving average of $77.67. The firm has a market capitalization of $3.81 billion, a PE ratio of -97.65 and a beta of 0.32.

Arcellx (NASDAQ:ACLX) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.87) earnings per share for the quarter, missing the consensus estimate of ($0.63) by ($0.24). The firm had revenue of $15.27 million during the quarter, compared to analyst estimates of $27.42 million. Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. Equities research analysts predict that Arcellx, Inc. will post -1.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. HC Wainwright restated a “buy” rating and issued a $115.00 price target on shares of Arcellx in a report on Tuesday, December 10th. Needham & Company LLC restated a “buy” rating and issued a $105.00 price target on shares of Arcellx in a report on Monday, December 9th. UBS Group lifted their price target on Arcellx from $106.00 to $114.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, Barclays upgraded Arcellx to a “strong-buy” rating in a report on Friday, November 29th. Thirteen equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $108.46.

Insider Activity

In related news, insider Christopher Heery sold 3,301 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 35,517 shares of the company’s stock, valued at approximately $2,825,377.35. The trade was a 8.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kavita Patel sold 1,500 shares of the company’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $76.97, for a total value of $115,455.00. The disclosure for this sale can be found here. Insiders sold a total of 65,870 shares of company stock valued at $4,297,101 over the last three months. Insiders own 6.24% of the company’s stock.

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).