Lord Abbett & CO. LLC Has $74.48 Million Stock Holdings in Arcellx, Inc. (NASDAQ:ACLX)

Lord Abbett & CO. LLC boosted its stake in Arcellx, Inc. (NASDAQ:ACLX) by 2.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 891,848 shares of the company’s stock after purchasing an additional 18,004 shares during the period. Lord Abbett & CO. LLC owned about 1.65% of Arcellx worth $74,478,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Janus Henderson Group PLC raised its position in Arcellx by 5.7% in the third quarter. Janus Henderson Group PLC now owns 2,011,950 shares of the company’s stock valued at $168,026,000 after purchasing an additional 109,332 shares during the last quarter. RA Capital Management L.P. raised its holdings in Arcellx by 15.4% in the 3rd quarter. RA Capital Management L.P. now owns 1,851,479 shares of the company’s stock valued at $154,617,000 after buying an additional 247,465 shares during the last quarter. Geode Capital Management LLC boosted its position in Arcellx by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 974,967 shares of the company’s stock worth $81,434,000 after buying an additional 39,781 shares during the period. Great Point Partners LLC grew its holdings in Arcellx by 64.0% during the 2nd quarter. Great Point Partners LLC now owns 492,000 shares of the company’s stock worth $27,153,000 after acquiring an additional 192,000 shares during the last quarter. Finally, Affinity Asset Advisors LLC grew its holdings in Arcellx by 53.3% during the 2nd quarter. Affinity Asset Advisors LLC now owns 460,000 shares of the company’s stock worth $25,387,000 after acquiring an additional 160,000 shares during the last quarter. Institutional investors and hedge funds own 96.03% of the company’s stock.

Arcellx Stock Up 0.5 %

NASDAQ:ACLX opened at $83.80 on Friday. Arcellx, Inc. has a twelve month low of $47.88 and a twelve month high of $107.37. The company has a fifty day moving average of $88.93 and a 200-day moving average of $72.57. The firm has a market capitalization of $4.53 billion, a P/E ratio of -118.03 and a beta of 0.25.

Arcellx (NASDAQ:ACLX) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.48) earnings per share for the quarter, beating the consensus estimate of ($0.54) by $0.06. The firm had revenue of $26.03 million during the quarter, compared to the consensus estimate of $35.21 million. Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. On average, analysts anticipate that Arcellx, Inc. will post -1.49 EPS for the current fiscal year.

Insider Activity at Arcellx

In related news, CFO Michelle Gilson sold 15,000 shares of Arcellx stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $77.73, for a total value of $1,165,950.00. Following the completion of the sale, the chief financial officer now owns 6,915 shares of the company’s stock, valued at approximately $537,502.95. This trade represents a 68.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kavita Patel sold 15,238 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $105.92, for a total transaction of $1,614,008.96. The disclosure for this sale can be found here. Insiders sold 67,001 shares of company stock valued at $6,568,393 in the last three months. Corporate insiders own 6.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ACLX shares. HC Wainwright reiterated a “buy” rating and set a $115.00 price target on shares of Arcellx in a report on Tuesday, December 10th. Robert W. Baird lifted their target price on Arcellx from $77.00 to $106.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Piper Sandler upped their price target on Arcellx from $91.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Bank of America raised their price objective on Arcellx from $84.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcellx in a report on Monday, September 9th. Thirteen research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Arcellx has an average rating of “Buy” and a consensus price target of $105.93.

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).