State Street Corp Reduces Holdings in Arcellx, Inc. (NASDAQ:ACLX)

State Street Corp reduced its position in Arcellx, Inc. (NASDAQ:ACLX) by 12.0% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,544,939 shares of the company’s stock after selling 210,725 shares during the period. State Street Corp’s holdings in Arcellx were worth $129,018,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quarry LP bought a new stake in shares of Arcellx during the 3rd quarter valued at $125,000. RA Capital Management L.P. raised its holdings in shares of Arcellx by 15.4% in the 3rd quarter. RA Capital Management L.P. now owns 1,851,479 shares of the company’s stock valued at $154,617,000 after acquiring an additional 247,465 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of Arcellx by 67.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 79,936 shares of the company’s stock valued at $6,675,000 after acquiring an additional 32,119 shares during the last quarter. Janus Henderson Group PLC grew its holdings 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 worth $168,026,000 after purchasing an additional 109,332 shares in the last quarter. Finally, HighVista Strategies LLC increased its position in shares of Arcellx by 8.0% in the third quarter. HighVista Strategies LLC now owns 55,139 shares of the company’s stock worth $4,605,000 after purchasing an additional 4,099 shares during the last quarter. Institutional investors own 96.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ACLX shares. Truist Financial lifted their target price on shares of Arcellx from $87.00 to $136.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. UBS Group increased their target price on Arcellx from $106.00 to $114.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Redburn Atlantic initiated coverage on Arcellx in a research note on Tuesday, October 8th. They set a “buy” rating and a $109.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcellx in a research report on Monday, September 9th. Finally, Barclays upgraded Arcellx to a “strong-buy” rating in a research 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $105.93.

Insider Activity at Arcellx

In related news, CFO Michelle Gilson sold 15,000 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $77.73, for a total transaction of $1,165,950.00. Following the transaction, the chief financial officer now owns 6,915 shares in the company, valued at $537,502.95. The trade was a 68.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kavita Patel sold 1,500 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $91.88, for a total transaction of $137,820.00. The disclosure for this sale can be found here. Insiders sold a total of 67,001 shares of company stock worth $6,568,393 over the last quarter. 6.24% of the stock is owned by corporate insiders.

Arcellx Stock Up 0.5 %

Shares of Arcellx stock opened at $83.80 on Friday. The firm has a market cap of $4.53 billion, a PE ratio of -118.03 and a beta of 0.25. The company’s fifty day simple moving average is $88.93 and its two-hundred day simple moving average is $72.57. Arcellx, Inc. has a 12-month low of $47.88 and a 12-month high of $107.37.

Arcellx (NASDAQ:ACLX) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.06. The company 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%. As a group, sell-side analysts expect that Arcellx, Inc. will post -1.49 earnings per share for the current fiscal year.

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).