Olivia C. Ware Sells 9,402 Shares of Arcellx, Inc. (NASDAQ:ACLX) Stock

Arcellx, Inc. (NASDAQ:ACLX) Director Olivia C. Ware sold 9,402 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $55.55, for a total transaction of $522,281.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Olivia C. Ware also recently made the following trade(s):

• On Friday, March 15th, Olivia C. Ware sold 9,000 shares of Arcellx stock. The shares were sold at an average price of $70.40, for a total transaction of $633,600.00.

Arcellx Stock Down 5.2 %

Shares of Arcellx stock opened at $51.65 on Friday. Arcellx, Inc. has a twelve month low of $30.74 and a twelve month high of $75.10. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of -35.14 and a beta of 0.02. The company’s fifty day moving average is $64.96 and its 200 day moving average is $54.96.

Arcellx (NASDAQ:ACLX) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.42 earnings per share for the quarter, topping 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 company had revenue of $63.15 million for the quarter, compared to analysts’ expectations of $20.07 million. During the same quarter in the previous year, the firm posted ($0.76) earnings per share. As a group, equities analysts anticipate that Arcellx, Inc. will post -1.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Scotiabank restated an “outperform” rating and set a $82.00 price objective on shares of Arcellx in a research report on Thursday, April 4th. Barclays boosted their price objective on shares of Arcellx from $62.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Stifel Nicolaus restated a “buy” rating and set a $82.00 price objective on shares of Arcellx in a research report on Thursday, March 14th. Truist Financial boosted their target price 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, Robert W. Baird boosted their target price 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. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Arcellx currently has a consensus rating of “Buy” and a consensus target price of $74.17.

Institutional Trading of Arcellx

Several institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new stake in shares of Arcellx in the first quarter worth $804,000. High Net Worth Advisory Group LLC lifted its holdings in Arcellx by 14.3% in the first quarter. High Net Worth Advisory Group LLC now owns 8,000 shares of the company’s stock valued at $556,000 after buying an additional 1,000 shares during the period. Vanguard Group Inc. lifted its holdings in Arcellx by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 2,061,819 shares of the company’s stock valued at $114,431,000 after buying an additional 23,262 shares during the period. Perceptive Advisors LLC lifted its holdings 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 buying an additional 578,831 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Arcellx by 34.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,260,180 shares of the company’s stock valued at $69,941,000 after buying an additional 323,309 shares during the period. Institutional investors 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).