Christopher Heery Sells 41,365 Shares of Arcellx, Inc. (NASDAQ:ACLX) Stock

Arcellx, Inc. (NASDAQ:ACLX) insider Christopher Heery sold 41,365 shares of Arcellx stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $70.18, for a total transaction of $2,902,995.70. Following the transaction, the insider now owns 8,938 shares in the company, valued at approximately $627,268.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• 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 transaction 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 transaction 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 transaction of $419,941.46.

Arcellx Stock Up 0.5 %

ACLX opened at $70.45 on Thursday. The stock has a market cap of $3.72 billion, a price-to-earnings ratio of -47.92 and a beta of 0.02. Arcellx, Inc. has a twelve month low of $27.28 and a twelve month high of $75.10. The company’s 50-day moving average price is $65.19 and its two-hundred day moving average price is $52.03.

Arcellx (NASDAQ:ACLX) last released its earnings results on Wednesday, February 28th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.95. The firm had revenue of $63.15 million for the quarter, compared to analysts’ expectations 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 period in the previous year, the company earned ($0.76) earnings per share. As a group, sell-side analysts anticipate that Arcellx, Inc. will post -1.69 earnings per share for the current year.

Institutional Trading of Arcellx

Hedge funds and other institutional investors have recently modified their holdings of the business. Rafferty Asset Management LLC raised its position in shares of Arcellx by 10.2% in the third quarter. Rafferty Asset Management LLC now owns 158,778 shares of the company’s stock valued at $5,697,000 after purchasing an additional 14,682 shares during the period. Suvretta Capital Management LLC raised its position in shares of Arcellx by 18.8% in the second quarter. Suvretta Capital Management LLC now owns 2,848,167 shares of the company’s stock valued at $90,059,000 after purchasing an additional 449,846 shares during the period. China Universal Asset Management Co. Ltd. raised its position in shares of Arcellx by 98.4% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,248 shares of the company’s stock valued at $45,000 after purchasing an additional 619 shares during the period. Vivo Capital LLC raised its position in shares of Arcellx by 16.1% in the third quarter. Vivo Capital LLC now owns 503,565 shares of the company’s stock valued at $18,068,000 after purchasing an additional 69,780 shares during the period. Finally, Swiss National Bank raised its position in shares of Arcellx by 21.5% in the third quarter. Swiss National Bank now owns 63,300 shares of the company’s stock valued at $2,271,000 after purchasing an additional 11,200 shares during the period. Institutional investors own 96.03% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on ACLX shares. Barclays boosted their target price on shares of Arcellx from $62.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. 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 report on Thursday, February 29th. 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 report on Tuesday, March 5th. Stifel Nicolaus reissued a “buy” rating and set a $82.00 target price on shares of Arcellx in a research report on Thursday, March 14th. Finally, Scotiabank boosted their price target on shares of Arcellx to $82.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Thirteen equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $69.14.

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).