Rafferty Asset Management LLC Boosts Holdings in Arcellx, Inc. (NASDAQ:ACLX)

Rafferty Asset Management LLC boosted its position in shares of Arcellx, Inc. (NASDAQ:ACLX) by 27.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 71,037 shares of the company’s stock after buying an additional 15,293 shares during the quarter. Rafferty Asset Management LLC owned 0.13% of Arcellx worth $5,448,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in ACLX. Headlands Technologies LLC bought a new position in shares of Arcellx in the fourth quarter worth about $41,000. KBC Group NV increased its position in shares of Arcellx by 37.3% during the fourth quarter. KBC Group NV now owns 1,388 shares of the company’s stock worth $106,000 after acquiring an additional 377 shares during the period. Avanza Fonder AB purchased a new position in shares of Arcellx during the fourth quarter worth approximately $184,000. Kazazian Asset Management LLC purchased a new position in shares of Arcellx during the fourth quarter worth approximately $204,000. Finally, Landscape Capital Management L.L.C. purchased a new position in shares of Arcellx during the fourth quarter worth approximately $214,000. 96.03% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Kavita Patel sold 1,500 shares of the company’s stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $57.50, for a total transaction of $86,250.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction, the insider now owns 37,486 shares in the company, valued at approximately $2,391,231.94. This trade represents a 21.32% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,455 shares of company stock worth $3,407,903. 6.24% of the stock is owned by corporate insiders.

Arcellx Stock Performance

Shares of Arcellx stock opened at $58.78 on Friday. The company has a market capitalization of $3.24 billion, a PE ratio of -82.79 and a beta of 0.34. The company has a 50-day simple moving average of $63.20 and a two-hundred day simple moving average of $71.75. Arcellx, Inc. has a one year low of $47.86 and a one year high of $107.37.

Arcellx (NASDAQ:ACLX) last announced its earnings results on Thursday, May 8th. The company reported ($1.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.29). The firm had revenue of $8.13 million during the quarter, compared to the consensus estimate of $19.51 million. Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. On average, equities analysts predict that Arcellx, Inc. will post -1.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Scotiabank reduced their target price on shares of Arcellx from $133.00 to $93.00 and set a “sector outperform” rating on the stock in a research report on Friday, May 9th. Thirteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Arcellx presently has an average rating of “Buy” and a consensus target price of $111.33.

Arcellx 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).