SBI Securities Co. Ltd. Has $236,000 Holdings in Arcellx, Inc. (NASDAQ:ACLX)

SBI Securities Co. Ltd. cut its holdings in Arcellx, Inc. (NASDAQ:ACLX) by 12.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,596 shares of the company’s stock after selling 527 shares during the quarter. SBI Securities Co. Ltd.’s holdings in Arcellx were worth $236,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in Arcellx by 104.1% during the 1st quarter. GAMMA Investing LLC now owns 494 shares of the company’s stock worth $32,000 after purchasing an additional 252 shares in the last quarter. Headlands Technologies LLC bought a new stake in Arcellx in the fourth quarter worth $41,000. GF Fund Management CO. LTD. bought a new position in shares of Arcellx during the fourth quarter valued at $87,000. Amalgamated Bank increased its position in Arcellx by 12.0% during the first quarter. Amalgamated Bank now owns 1,508 shares of the company’s stock valued at $99,000 after acquiring an additional 161 shares during the last quarter. Finally, Landscape Capital Management L.L.C. bought a new position in shares of Arcellx in the fourth quarter worth about $214,000. 96.03% of the stock is owned by institutional investors and hedge funds.

Arcellx Trading Up 0.4%

Shares of NASDAQ:ACLX opened at $70.95 on Friday. Arcellx, Inc. has a 1 year low of $47.86 and a 1 year high of $107.37. The firm has a fifty day moving average price of $64.55 and a 200 day moving average price of $65.31. The stock has a market capitalization of $3.91 billion, a PE ratio of -23.73 and a beta of 0.28.

Arcellx (NASDAQ:ACLX) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.84) by ($0.29). The firm had revenue of $8.13 million during the quarter, compared to analyst estimates of $19.51 million. Arcellx had a negative net margin of 211.46% and a negative return on equity of 35.27%. On average, sell-side analysts forecast that Arcellx, Inc. will post -1.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ACLX. Scotiabank dropped their target price on Arcellx from $133.00 to $93.00 and set a “sector outperform” rating on the stock in a research note on Friday, May 9th. HC Wainwright restated a “buy” rating and issued a $115.00 price target on shares of Arcellx in a research report on Monday, June 16th. Finally, Citigroup began coverage on Arcellx in a research report on Tuesday, June 17th. They set a “buy” rating and a $110.00 price objective on the stock. Fourteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $111.23.

Insider Buying and Selling

In other news, Director Kavita Patel sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $67.36, for a total transaction of $101,040.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 4,500 shares of company stock valued at $284,985. 8.35% of the stock is owned by insiders.

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).