Algert Global LLC Boosts Stake in Arcellx, Inc. (NASDAQ:ACLX)

Algert Global LLC raised its holdings in Arcellx, Inc. (NASDAQ:ACLX) by 24.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,211 shares of the company’s stock after purchasing an additional 6,901 shares during the quarter. Algert Global LLC owned 0.07% of Arcellx worth $1,943,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Perceptive Advisors LLC raised its position in Arcellx by 14.6% in the fourth quarter. Perceptive Advisors LLC now owns 4,544,809 shares of the company’s stock valued at $252,237,000 after purchasing an additional 578,831 shares during the period. Vanguard Group Inc. grew its stake in shares of Arcellx by 8.1% in the first quarter. Vanguard Group Inc. now owns 2,228,856 shares of the company’s stock valued at $155,017,000 after buying an additional 167,037 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Arcellx by 6.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,344,553 shares of the company’s stock valued at $93,514,000 after buying an additional 84,373 shares in the last quarter. Great Point Partners LLC grew its stake in shares of Arcellx by 64.0% in the second quarter. Great Point Partners LLC now owns 492,000 shares of the company’s stock valued at $27,153,000 after buying an additional 192,000 shares in the last quarter. Finally, Affinity Asset Advisors LLC grew its stake in shares of Arcellx by 53.3% in the second quarter. Affinity Asset Advisors LLC now owns 460,000 shares of the company’s stock valued at $25,387,000 after buying an additional 160,000 shares in the last quarter. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ACLX. Needham & Company LLC reaffirmed a “buy” rating and issued a $81.00 price objective on shares of Arcellx in a research note on Friday, August 9th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Arcellx in a research note on Monday, July 22nd. Cantor Fitzgerald reissued an “overweight” rating on shares of Arcellx in a research note on Monday, September 9th. Finally, Truist Financial reissued a “buy” rating and set a $87.00 target price on shares of Arcellx in a research note on Tuesday, June 18th. Fourteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $78.00.

Arcellx Stock Performance

Arcellx stock opened at $76.23 on Thursday. Arcellx, Inc. has a fifty-two week low of $30.88 and a fifty-two week high of $88.66. The company has a market capitalization of $4.08 billion, a P/E ratio of -74.01 and a beta of 0.23. The stock has a 50-day simple moving average of $69.17 and a 200-day simple moving average of $61.29.

Arcellx (NASDAQ:ACLX) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.51) EPS for the quarter, beating the consensus estimate of ($0.52) by $0.01. The firm had revenue of $27.38 million during the quarter, compared to the consensus estimate of $22.04 million. Arcellx had a negative return on equity of 12.42% and a negative net margin of 37.23%. The firm’s quarterly revenue was up 91.5% on a year-over-year basis. As a group, analysts forecast that Arcellx, Inc. will post -1.65 earnings per share for the current year.

Insider Buying and Selling at Arcellx

In other Arcellx news, insider Christopher Heery sold 27,451 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $67.03, for a total transaction of $1,840,040.53. Following the completion of the sale, the insider now directly owns 9,278 shares of the company’s stock, valued at approximately $621,904.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Arcellx news, Director Kavita Patel sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $56.63, for a total transaction of $84,945.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Christopher Heery sold 27,451 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $67.03, for a total value of $1,840,040.53. Following the transaction, the insider now owns 9,278 shares in the company, valued at approximately $621,904.34. The disclosure for this sale can be found here. Insiders sold a total of 86,628 shares of company stock valued at $6,009,342 in the last ninety days. Insiders own 6.24% of the company’s stock.

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).