Arcellx, Inc. (NASDAQ:ACLX) Insider Christopher Heery Sells 10,155 Shares of Stock

Arcellx, Inc. (NASDAQ:ACLX) insider Christopher Heery sold 10,155 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $63.79, for a total transaction of $647,787.45. Following the sale, the insider now owns 37,486 shares in the company, valued at $2,391,231.94. This represents a 21.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Wednesday, January 8th, Christopher Heery sold 3,553 shares of Arcellx stock. The shares were sold at an average price of $73.69, for a total transaction of $261,820.57.
• On Monday, January 6th, Christopher Heery sold 3,061 shares of Arcellx stock. The shares were sold at an average price of $77.17, for a total transaction of $236,217.37.
• On Friday, January 3rd, Christopher Heery sold 3,301 shares of Arcellx stock. The shares were sold at an average price of $79.55, for a total transaction of $262,594.55.

Arcellx Price Performance

Shares of ACLX stock opened at $63.01 on Tuesday. The company has a market capitalization of $3.41 billion, a P/E ratio of -88.75 and a beta of 0.29. The company’s 50-day simple moving average is $69.70 and its two-hundred day simple moving average is $77.53. Arcellx, Inc. has a one year low of $47.88 and a one year high of $107.37.

Hedge Funds Weigh In On Arcellx

Hedge funds have recently added to or reduced their stakes in the stock. Headlands Technologies LLC bought a new position in Arcellx in the 4th quarter worth about $41,000. GF Fund Management CO. LTD. bought a new position in shares of Arcellx during the fourth quarter valued at approximately $87,000. KBC Group NV boosted its stake in shares of Arcellx by 37.3% during the fourth quarter. KBC Group NV now owns 1,388 shares of the company’s stock valued at $106,000 after purchasing an additional 377 shares in the last quarter. Quarry LP bought a new position in shares of Arcellx during the third quarter valued at approximately $125,000. Finally, Quest Partners LLC boosted its stake in shares of Arcellx by 210.1% during the third quarter. Quest Partners LLC now owns 1,532 shares of the company’s stock valued at $128,000 after purchasing an additional 1,038 shares in the last quarter. 96.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Morgan Stanley upped their target price on shares of Arcellx from $81.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. UBS Group upped their price target on shares of Arcellx from $106.00 to $114.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Needham & Company LLC reiterated a “buy” rating and set a $105.00 price target on shares of Arcellx in a report on Monday, December 9th. Truist Financial upped their price target on shares of Arcellx from $87.00 to $136.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, Piper Sandler upped their price target on shares of Arcellx from $91.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Thirteen analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $105.93.

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).