Insider Selling: Arcellx, Inc. (NASDAQ:ACLX) Director Sells 1,500 Shares of Stock

Arcellx, Inc. (NASDAQ:ACLX) Director Kavita Patel sold 1,500 shares of Arcellx stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $76.97, for a total value of $115,455.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Kavita Patel also recently made the following trade(s):

• On Tuesday, December 3rd, Kavita Patel sold 1,500 shares of Arcellx stock. The shares were sold at an average price of $91.88, for a total transaction of $137,820.00.
• On Friday, November 8th, Kavita Patel sold 33,763 shares of Arcellx stock. The stock was sold at an average price of $104.14, for a total transaction of $3,516,078.82.
• On Monday, November 11th, Kavita Patel sold 15,238 shares of Arcellx stock. The shares were sold at an average price of $105.92, for a total transaction of $1,614,008.96.
• On Tuesday, October 22nd, Kavita Patel sold 1,500 shares of Arcellx stock. The shares were sold at an average price of $89.69, for a total value of $134,535.00.

Arcellx Trading Up 1.9 %

Shares of NASDAQ:ACLX opened at $79.02 on Friday. Arcellx, Inc. has a 12 month low of $47.88 and a 12 month high of $107.37. The company has a market capitalization of $4.27 billion, a price-to-earnings ratio of -111.29 and a beta of 0.25. The firm’s 50-day moving average is $87.83 and its 200 day moving average is $74.03.

Arcellx (NASDAQ:ACLX) last released its earnings results on Thursday, November 7th. The company reported ($0.48) EPS for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.06. Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. The firm had revenue of $26.03 million for the quarter, compared to analysts’ expectations of $35.21 million. As a group, equities analysts forecast that Arcellx, Inc. will post -1.49 EPS for the current fiscal year.

Institutional Trading of Arcellx

Hedge funds and other institutional investors have recently bought and sold shares of the business. First Turn Management LLC bought a new position in shares of Arcellx in the third quarter worth about $17,896,000. Harbor Capital Advisors Inc. boosted its position in Arcellx by 37.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 27,896 shares of the company’s stock valued at $2,330,000 after buying an additional 7,534 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Arcellx by 4.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 328,093 shares of the company’s stock worth $27,399,000 after acquiring an additional 14,200 shares in the last quarter. Lord Abbett & CO. LLC grew its stake in Arcellx by 2.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 891,848 shares of the company’s stock worth $74,478,000 after acquiring an additional 18,004 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of Arcellx during the second quarter worth approximately $1,494,000. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Analyst Upgrades and Downgrades

ACLX has been the topic of a number of research analyst reports. Truist Financial boosted their target price on Arcellx from $87.00 to $136.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Piper Sandler increased their target price on Arcellx from $91.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Needham & Company LLC restated a “buy” rating and issued a $105.00 price target on shares of Arcellx in a research report on Monday, December 9th. UBS Group upped their price target on shares of Arcellx from $106.00 to $114.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, Robert W. Baird lifted their price objective on shares of Arcellx from $77.00 to $106.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Thirteen investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently 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).