Christopher Heery Sells 3,061 Shares of Arcellx, Inc. (NASDAQ:ACLX) Stock

Arcellx, Inc. (NASDAQ:ACLX) insider Christopher Heery sold 3,061 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $77.17, for a total value of $236,217.37. Following the completion of the sale, the insider now directly owns 32,456 shares of the company’s stock, valued at $2,504,629.52. The trade was a 8.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Friday, January 3rd, Christopher Heery sold 3,301 shares of Arcellx stock. The shares were sold at an average price of $79.55, for a total value of $262,594.55.

Arcellx Trading Down 5.2 %

Shares of NASDAQ:ACLX traded down $4.12 during midday trading on Monday, reaching $75.01. The company had a trading volume of 1,085,230 shares, compared to its average volume of 606,243. The stock has a market cap of $4.06 billion, a P/E ratio of -105.65 and a beta of 0.33. The company’s 50 day moving average price is $85.95 and its 200 day moving average price is $75.49. Arcellx, Inc. has a 52-week low of $47.88 and a 52-week high of $107.37.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ACLX shares. Barclays upgraded Arcellx to a “strong-buy” rating in a report on Friday, November 29th. Robert W. Baird lifted their price objective on shares of Arcellx from $77.00 to $106.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Piper Sandler upped their target price on shares of Arcellx from $91.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Canaccord Genuity Group lifted their price target on Arcellx from $85.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, Bank of America increased their price objective on Arcellx from $84.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Thirteen analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $105.93.

Hedge Funds Weigh In On Arcellx

Several institutional investors and hedge funds have recently bought and sold shares of the company. Lord Abbett & CO. LLC lifted its position in shares of Arcellx by 2.1% during the 3rd quarter. Lord Abbett & CO. LLC now owns 891,848 shares of the company’s stock valued at $74,478,000 after buying an additional 18,004 shares during the last quarter. Geode Capital Management LLC raised its stake in Arcellx by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 974,967 shares of the company’s stock valued at $81,434,000 after acquiring an additional 39,781 shares during the period. Wellington Management Group LLP raised its stake in Arcellx by 15.2% in the 3rd quarter. Wellington Management Group LLP now owns 20,968 shares of the company’s stock valued at $1,751,000 after acquiring an additional 2,768 shares during the period. Quarry LP purchased a new stake in Arcellx during the third quarter valued at about $125,000. Finally, RA Capital Management L.P. boosted its position in Arcellx by 15.4% during the third quarter. RA Capital Management L.P. now owns 1,851,479 shares of the company’s stock worth $154,617,000 after purchasing an additional 247,465 shares during the period. 96.03% of the stock is owned by institutional investors.

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).