Christopher Heery Sells 5,450 Shares of Arcellx, Inc. (NASDAQ:ACLX) Stock

Arcellx, Inc. (NASDAQ:ACLX) insider Christopher Heery sold 5,450 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $69.11, for a total value of $376,649.50. Following the completion of the sale, the insider now directly owns 8,938 shares of the company’s stock, valued at approximately $617,705.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 shares were sold at an average price of $70.18, for a total value of $2,902,995.70.
• On Monday, February 12th, Christopher Heery sold 2,967 shares of Arcellx stock. The shares were 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 shares were sold at an average price of $62.29, for a total value 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 value of $419,941.46.

Arcellx Price Performance

Shares of ACLX opened at $70.45 on Thursday. The firm has a market cap of $3.72 billion, a PE ratio of -47.92 and a beta of 0.02. The stock’s fifty day moving average price is $65.19 and its two-hundred day moving average price is $52.03. Arcellx, Inc. has a 1 year low of $27.28 and a 1 year high of $75.10.

Arcellx (NASDAQ:ACLX) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $63.15 million for the quarter, compared to analyst estimates of $20.07 million. During the same period in the previous year, the company posted ($0.76) EPS. Sell-side analysts anticipate that Arcellx, Inc. will post -1.69 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on ACLX shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $82.00 target price on shares of Arcellx in a research report on Thursday, March 14th. Robert W. Baird lifted their target price on Arcellx from $63.00 to $77.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Scotiabank lifted their price target on Arcellx to $82.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Canaccord Genuity Group lifted their price target on Arcellx from $66.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Finally, Morgan Stanley initiated coverage on Arcellx in a report on Thursday, March 7th. They set an “overweight” rating and a $81.00 price target on the stock. Thirteen equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $69.14.

Institutional Trading of Arcellx

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rafferty Asset Management LLC raised its stake in shares of Arcellx by 10.2% during the 3rd 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 boosted its holdings in Arcellx by 18.8% during the 2nd quarter. Suvretta Capital Management LLC now owns 2,848,167 shares of the company’s stock valued at $90,059,000 after acquiring an additional 449,846 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in Arcellx by 98.4% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,248 shares of the company’s stock valued at $45,000 after acquiring an additional 619 shares during the period. Vivo Capital LLC boosted its holdings in Arcellx by 16.1% during the 3rd quarter. Vivo Capital LLC now owns 503,565 shares of the company’s stock valued at $18,068,000 after acquiring an additional 69,780 shares during the period. Finally, Swiss National Bank raised its position in Arcellx by 21.5% during the 3rd 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 last quarter. 96.03% of the stock is currently 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).