Christopher Heery Sells 5,450 Shares of Arcellx, Inc. (NASDAQ:ACLX) Stock

Arcellx, Inc. (NASDAQ:ACLX) insider Christopher Heery sold 5,450 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $69.11, for a total value of $376,649.50. Following the transaction, the insider now directly owns 8,938 shares in the company, valued at approximately $617,705.18. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Friday, March 22nd, Christopher Heery sold 41,365 shares of Arcellx stock. The shares were sold at an average price of $70.18, for a total value of $2,902,995.70.
• On Monday, February 12th, Christopher Heery sold 2,967 shares of Arcellx stock. The stock was sold at an average price of $64.46, for a total value 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 value of $419,941.46.

Arcellx Stock Up 0.5 %

ACLX opened at $70.45 on Thursday. The stock’s 50 day moving average price is $65.19 and its two-hundred day moving average price is $52.03. The firm has a market capitalization of $3.72 billion, a P/E ratio of -47.92 and a beta of 0.02. Arcellx, Inc. has a 12-month low of $27.28 and a 12-month high of $75.10.

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ACLX. Stifel Nicolaus reiterated a “buy” rating and issued a $82.00 price target on shares of Arcellx in a research report on Thursday, March 14th. Needham & Company LLC lifted their price objective on Arcellx from $72.00 to $81.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Canaccord Genuity Group boosted their price target on Arcellx from $66.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. HC Wainwright raised their price objective on shares of Arcellx from $60.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Finally, 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 report on Thursday, February 29th. Thirteen analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $69.14.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Novo Holdings A S acquired a new stake in Arcellx during the first quarter worth about $56,317,000. State Street Corp increased its position in shares of Arcellx by 761.1% during the third quarter. State Street Corp now owns 1,514,025 shares of the company’s stock valued at $28,418,000 after purchasing an additional 1,338,208 shares during the period. Perceptive Advisors LLC raised its stake in shares of Arcellx by 47.9% in the first quarter. Perceptive Advisors LLC now owns 3,841,739 shares of the company’s stock valued at $118,364,000 after purchasing an additional 1,243,434 shares in the last quarter. BlackRock Inc. lifted its position in Arcellx by 199.8% in the third quarter. BlackRock Inc. now owns 1,806,103 shares of the company’s stock worth $33,902,000 after purchasing an additional 1,203,592 shares during the period. Finally, FMR LLC lifted its position in Arcellx by 4,797,730.8% in the second quarter. FMR LLC now owns 623,718 shares of the company’s stock worth $11,277,000 after purchasing an additional 623,705 shares during the period. Institutional investors and hedge funds own 96.03% 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).