Fmr LLC Reduces Holdings in Arcellx, Inc. (NASDAQ:ACLX)

Fmr LLC trimmed its position in shares of Arcellx, Inc. (NASDAQ:ACLX) by 0.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,479,273 shares of the company’s stock after selling 8,061 shares during the quarter. Fmr LLC owned approximately 11.98% of Arcellx worth $541,084,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in ACLX. First Turn Management LLC purchased a new stake in shares of Arcellx during the third quarter worth approximately $17,896,000. Great Point Partners LLC increased its position in shares of Arcellx by 64.0% during the second quarter. Great Point Partners LLC now owns 492,000 shares of the company’s stock worth $27,153,000 after purchasing an additional 192,000 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Arcellx by 8.1% during the first quarter. Vanguard Group Inc. now owns 2,228,856 shares of the company’s stock worth $155,017,000 after purchasing an additional 167,037 shares in the last quarter. Affinity Asset Advisors LLC increased its position in shares of Arcellx by 53.3% during the second quarter. Affinity Asset Advisors LLC now owns 460,000 shares of the company’s stock worth $25,387,000 after purchasing an additional 160,000 shares in the last quarter. Finally, abrdn plc purchased a new stake in shares of Arcellx during the third quarter worth approximately $4,242,000. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Kavita Patel sold 15,238 shares of the firm’s stock in a transaction that occurred 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Michelle Gilson sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $77.73, for a total value of $1,165,950.00. Following the transaction, the chief financial officer now owns 6,915 shares in the company, valued at $537,502.95. This represents a 68.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,873 shares of company stock worth $8,621,767 in the last quarter. 6.24% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have issued reports on ACLX shares. Needham & Company LLC restated a “buy” rating and issued a $96.00 target price on shares of Arcellx in a report on Wednesday, November 6th. Cantor Fitzgerald restated an “overweight” rating on shares of Arcellx in a report on Monday, September 9th. Piper Sandler upped their target price on Arcellx from $91.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Truist Financial upped their target price on Arcellx from $87.00 to $136.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, Bank of America upped their target price on Arcellx from $84.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Thirteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Arcellx currently has an average rating of “Buy” and a consensus target price of $103.08.

Arcellx Price Performance

ACLX stock opened at $89.07 on Friday. Arcellx, Inc. has a 1 year low of $46.42 and a 1 year high of $107.37. The firm has a market capitalization of $4.82 billion, a P/E ratio of -125.45 and a beta of 0.27. The business’s 50-day moving average is $87.97 and its two-hundred day moving average is $69.69.

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

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).