Christopher Heery Sells 18,168 Shares of Arcellx, Inc. (NASDAQ:ACLX) Stock

Arcellx, Inc. (NASDAQ:ACLX) insider Christopher Heery sold 18,168 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $51.33, for a total value of $932,563.44. Following the completion of the transaction, the insider now directly owns 8,938 shares of the company’s stock, valued at approximately $458,787.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 stock was sold at an average price of $70.18, for a total value of $2,902,995.70.
• On Tuesday, March 26th, Christopher Heery sold 5,450 shares of Arcellx stock. The stock was sold at an average price of $69.11, for a total value of $376,649.50.
• 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 stock was sold at an average price of $62.29, for a total value of $215,274.24.

Arcellx Price Performance

Shares of ACLX stock opened at $52.69 on Friday. Arcellx, Inc. has a 1 year low of $30.74 and a 1 year high of $75.10. The stock’s 50 day simple moving average is $63.02 and its two-hundred day simple moving average is $56.31. The company has a market cap of $2.81 billion, a PE ratio of -35.84 and a beta of 0.24.

Arcellx (NASDAQ:ACLX) last issued its quarterly earnings results 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 return on equity of 20.96% and a negative net margin of 64.08%. The firm had revenue of $63.15 million for the quarter, compared to the consensus estimate of $20.07 million. During the same period in the prior year, the business posted ($0.76) earnings per share. Equities research analysts expect that Arcellx, Inc. will post -1.69 EPS for the current year.

Institutional Trading of Arcellx

Large investors have recently made changes to their positions in the stock. Amalgamated Bank increased its stake in Arcellx by 5.6% in the 3rd quarter. Amalgamated Bank now owns 5,772 shares of the company’s stock worth $207,000 after buying an additional 308 shares during the period. E Fund Management Co. Ltd. grew its stake in Arcellx by 5.3% in the 3rd quarter. E Fund Management Co. Ltd. now owns 8,156 shares of the company’s stock worth $293,000 after acquiring an additional 407 shares in the last quarter. Alps Advisors Inc. increased its position in shares of Arcellx by 1.2% during the third quarter. Alps Advisors Inc. now owns 35,710 shares of the company’s stock worth $1,281,000 after acquiring an additional 432 shares during the period. High Net Worth Advisory Group LLC raised its stake in shares of Arcellx by 7.7% during the fourth quarter. High Net Worth Advisory Group LLC now owns 7,000 shares of the company’s stock valued at $388,000 after acquiring an additional 500 shares in the last quarter. Finally, Profund Advisors LLC boosted its holdings in shares of Arcellx by 2.0% in the third quarter. Profund Advisors LLC now owns 26,872 shares of the company’s stock valued at $964,000 after purchasing an additional 527 shares during the period. 96.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ACLX shares. Robert W. Baird boosted their target price on Arcellx from $63.00 to $77.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. HC Wainwright boosted their target price on Arcellx from $60.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Stifel Nicolaus reiterated a “buy” rating and issued a $82.00 target price on shares of Arcellx in a research report on Thursday, March 14th. Barclays boosted their target price on Arcellx from $62.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Finally, Morgan Stanley started coverage on Arcellx in a research report on Thursday, March 7th. They issued an “overweight” rating and a $81.00 target price on the stock. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $75.64.

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).