Arcellx, Inc. (NASDAQ:ACLX) Insider Sells $2,902,995.70 in Stock

Arcellx, Inc. (NASDAQ:ACLX) insider Christopher Heery sold 41,365 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $70.18, for a total transaction of $2,902,995.70. Following the sale, the insider now directly owns 8,938 shares of the company’s stock, valued at $627,268.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Christopher Heery also recently made the following trade(s):

• On Tuesday, March 26th, Christopher Heery sold 5,450 shares of Arcellx stock. The shares were sold at an average price of $69.11, for a total transaction of $376,649.50.
• On Monday, February 12th, Christopher Heery sold 2,967 shares of Arcellx stock. The shares were sold at an average price of $64.46, for a total transaction of $191,252.82.
• On Thursday, February 8th, Christopher Heery sold 3,456 shares of Arcellx stock. The shares were sold at an average price of $62.29, for a total transaction of $215,274.24.
• On Thursday, January 4th, Christopher Heery sold 7,598 shares of Arcellx stock. The shares were sold at an average price of $55.27, for a total transaction of $419,941.46.

Arcellx Stock Performance

Shares of Arcellx stock opened at $70.45 on Thursday. Arcellx, Inc. has a one year low of $27.28 and a one year high of $75.10. The company has a market capitalization of $3.72 billion, a PE ratio of -47.92 and a beta of 0.02. The company has a 50-day simple moving average of $65.19 and a two-hundred day simple moving average of $52.03.

Arcellx (NASDAQ:ACLX) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.95. Arcellx had a negative net margin of 64.08% and a negative return on equity of 20.96%. The firm had revenue of $63.15 million for the quarter, compared to the consensus estimate of $20.07 million. During the same quarter in the prior year, the company posted ($0.76) earnings per share. On average, equities analysts predict that Arcellx, Inc. will post -1.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arcellx

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Arcellx by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 2,061,819 shares of the company’s stock valued at $114,431,000 after acquiring an additional 23,262 shares in the last quarter. Perceptive Advisors LLC increased its holdings in shares of Arcellx by 14.6% during the fourth quarter. Perceptive Advisors LLC now owns 4,544,809 shares of the company’s stock valued at $252,237,000 after acquiring an additional 578,831 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Arcellx by 34.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,260,180 shares of the company’s stock worth $69,941,000 after buying an additional 323,309 shares during the period. Voloridge Investment Management LLC raised its position in Arcellx by 128.8% during the 4th quarter. Voloridge Investment Management LLC now owns 235,760 shares of the company’s stock worth $13,085,000 after buying an additional 132,709 shares during the last quarter. Finally, Voya Investment Management LLC raised its position in Arcellx by 42.6% during the 4th quarter. Voya Investment Management LLC now owns 81,472 shares of the company’s stock worth $4,522,000 after buying an additional 24,320 shares during the last quarter. Institutional investors and hedge funds own 96.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ACLX shares. Needham & Company LLC upped their price objective on shares of Arcellx from $72.00 to $81.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Scotiabank upped their price objective on shares of Arcellx to $82.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Robert W. Baird upped their price objective on shares of Arcellx from $63.00 to $77.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Truist Financial upped their price objective on shares of Arcellx from $57.00 to $87.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $82.00 target price on shares of Arcellx in a report on Thursday, March 14th. Thirteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $69.14.

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).