Arcellx, Inc. (NASDAQ:ACLX) Director Sells $98,805.00 in Stock

Arcellx, Inc. (NASDAQ:ACLX) Director Kavita Patel sold 1,500 shares of the company’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $65.87, for a total transaction of $98,805.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Tuesday, December 24th, Kavita Patel sold 1,500 shares of Arcellx stock. The stock was sold at an average price of $76.97, for a total value of $115,455.00.
• On Tuesday, December 3rd, Kavita Patel sold 1,500 shares of Arcellx stock. The shares were sold at an average price of $91.88, for a total value of $137,820.00.
• On Friday, November 8th, Kavita Patel sold 33,763 shares of Arcellx stock. The stock was sold at an average price of $104.14, for a total value of $3,516,078.82.
• On Monday, November 11th, Kavita Patel sold 15,238 shares of Arcellx stock. The shares were sold at an average price of $105.92, for a total transaction of $1,614,008.96.
• On Tuesday, October 22nd, Kavita Patel sold 1,500 shares of Arcellx stock. The stock was sold at an average price of $89.69, for a total transaction of $134,535.00.

Arcellx Price Performance

Shares of NASDAQ:ACLX traded down $2.71 during midday trading on Tuesday, hitting $64.65. 707,862 shares of the company’s stock were exchanged, compared to its average volume of 763,683. Arcellx, Inc. has a 12 month low of $47.88 and a 12 month high of $107.37. The company has a market cap of $3.50 billion, a PE ratio of -91.06 and a beta of 0.33. The stock has a 50 day moving average price of $84.04 and a 200-day moving average price of $76.15.

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

Analyst Ratings Changes

ACLX has been the topic of several analyst reports. 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $105.00 price objective on shares of Arcellx in a research note on Monday, December 9th. Stifel Nicolaus lifted their target price on shares of Arcellx from $83.00 to $122.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Bank of America upped their price target on shares of Arcellx from $84.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, Piper Sandler increased their price target on Arcellx from $91.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. 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.com, the company presently has an average rating of “Buy” and a consensus target price of $105.93.

Institutional Trading of Arcellx

Large investors have recently added to or reduced their stakes in the stock. Lord Abbett & CO. LLC increased its position in Arcellx by 2.1% in the third quarter. Lord Abbett & CO. LLC now owns 891,848 shares of the company’s stock worth $74,478,000 after buying an additional 18,004 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Arcellx by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 974,967 shares of the company’s stock worth $81,434,000 after acquiring an additional 39,781 shares during the period. Wellington Management Group LLP increased its holdings in Arcellx by 15.2% in the 3rd quarter. Wellington Management Group LLP now owns 20,968 shares of the company’s stock worth $1,751,000 after acquiring an additional 2,768 shares during the last quarter. Quarry LP bought a new stake in Arcellx in the 3rd quarter valued at about $125,000. Finally, RA Capital Management L.P. lifted its holdings 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 valued at $154,617,000 after purchasing an additional 247,465 shares during the last quarter. Hedge funds and other institutional investors own 96.03% of the company’s stock.

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).