Swiss National Bank Raises Holdings in Arcellx, Inc. (NASDAQ:ACLX)

Swiss National Bank increased its position in shares of Arcellx, Inc. (NASDAQ:ACLX) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 63,400 shares of the company’s stock after buying an additional 500 shares during the period. Swiss National Bank’s holdings in Arcellx were worth $4,862,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. RA Capital Management L.P. grew its holdings in Arcellx by 15.4% during the 3rd 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 in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Arcellx in the 4th quarter worth approximately $10,016,000. Janus Henderson Group PLC boosted its stake in shares of Arcellx by 5.7% during the third quarter. Janus Henderson Group PLC now owns 2,011,950 shares of the company’s stock valued at $168,026,000 after purchasing an additional 109,332 shares in the last quarter. Geode Capital Management LLC increased its holdings in Arcellx by 4.3% during the third quarter. Geode Capital Management LLC now owns 974,967 shares of the company’s stock valued at $81,434,000 after buying an additional 39,781 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its stake in Arcellx by 67.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 79,936 shares of the company’s stock worth $6,675,000 after buying an additional 32,119 shares in the last quarter. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Wall Street Analysts Forecast Growth

ACLX has been the topic of several recent research reports. Barclays raised Arcellx to a “strong-buy” rating in a research report on Friday, November 29th. Needham & Company LLC reiterated a “buy” rating and issued a $105.00 target price on shares of Arcellx in a research note on Monday, December 9th. UBS Group increased their price target on shares of Arcellx from $106.00 to $114.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Arcellx in a research report on Tuesday, December 10th. Thirteen investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $108.46.

Arcellx Stock Performance

Shares of ACLX opened at $72.48 on Tuesday. The stock has a 50-day moving average of $66.67 and a two-hundred day moving average of $77.85. The stock has a market cap of $3.98 billion, a P/E ratio of -102.08 and a beta of 0.32. Arcellx, Inc. has a one year low of $47.88 and a one year high of $107.37.

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

Insider Transactions at Arcellx

In other news, insider Christopher Heery sold 10,155 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $63.79, for a total value of $647,787.45. Following the completion of the transaction, the insider now owns 37,486 shares of the company’s stock, valued at $2,391,231.94. The trade was a 21.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Rami Elghandour sold 38,300 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $62.02, for a total value of $2,375,366.00. Following the completion of the transaction, the insider now directly owns 149,186 shares of the company’s stock, valued at $9,252,515.72. The trade was a 20.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 64,370 shares of company stock worth $4,181,646 over the last 90 days. 6.24% of the stock is currently owned by company insiders.

Arcellx 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).