Arcellx, Inc. (NASDAQ:ACLX) Director Sells $134,535.00 in Stock

Arcellx, Inc. (NASDAQ:ACLX) Director Kavita Patel sold 1,500 shares of Arcellx stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $89.69, for a total transaction of $134,535.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Kavita Patel also recently made the following trade(s):

• On Tuesday, September 10th, Kavita Patel sold 1,500 shares of Arcellx stock. The shares were sold at an average price of $74.41, for a total transaction of $111,615.00.
• On Tuesday, July 30th, Kavita Patel sold 1,500 shares of Arcellx stock. The shares were sold at an average price of $61.97, for a total transaction of $92,955.00.

Arcellx Trading Up 0.2 %

ACLX traded up $0.18 on Tuesday, hitting $90.46. 394,269 shares of the company were exchanged, compared to its average volume of 463,878. Arcellx, Inc. has a twelve month low of $30.88 and a twelve month high of $97.54. The company has a market cap of $4.84 billion, a price-to-earnings ratio of -87.60 and a beta of 0.25. The firm has a 50-day moving average price of $76.75 and a two-hundred day moving average price of $62.90.

Arcellx (NASDAQ:ACLX) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.01. The business had revenue of $27.38 million during the quarter, compared to analysts’ expectations of $22.04 million. Arcellx had a negative return on equity of 12.42% and a negative net margin of 37.23%. The firm’s quarterly revenue was up 91.5% on a year-over-year basis. Equities analysts expect that Arcellx, Inc. will post -1.65 EPS for the current year.

Wall Street Analysts Forecast Growth

ACLX has been the topic of several research analyst reports. Canaccord Genuity Group lifted their target price on shares of Arcellx from $85.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Needham & Company LLC restated a “buy” rating and set a $96.00 price target (up from $81.00) on shares of Arcellx in a research report on Friday. Cantor Fitzgerald restated an “overweight” rating on shares of Arcellx in a research report on Monday, September 9th. Stifel Nicolaus boosted their price target on shares of Arcellx from $83.00 to $122.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Redburn Atlantic assumed coverage on shares of Arcellx in a report on Tuesday, October 8th. They issued a “buy” rating and a $109.00 target price on the stock. Thirteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $89.75.

Institutional Trading of Arcellx

Several institutional investors and hedge funds have recently made changes to their positions in ACLX. Vanguard Group Inc. raised its stake in Arcellx by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 2,061,819 shares of the company’s stock valued at $114,431,000 after acquiring an additional 23,262 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Arcellx during the 1st quarter valued at approximately $804,000. Principal Financial Group Inc. raised its stake in Arcellx by 246.3% during the 1st quarter. Principal Financial Group Inc. now owns 36,835 shares of the company’s stock valued at $2,562,000 after acquiring an additional 26,197 shares during the last quarter. Advisory Alpha LLC purchased a new stake in Arcellx during the 1st quarter valued at approximately $209,000. Finally, Sei Investments Co. raised its stake in Arcellx by 36.3% during the 1st quarter. Sei Investments Co. now owns 14,836 shares of the company’s stock valued at $1,032,000 after acquiring an additional 3,951 shares during the last quarter. 96.03% of the stock is owned by hedge funds and other 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).