ProShare Advisors LLC Has $630,000 Position in Arcellx, Inc. $ACLX

ProShare Advisors LLC lessened its holdings in Arcellx, Inc. (NASDAQ:ACLX) by 19.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,565 shares of the company’s stock after selling 2,383 shares during the period. ProShare Advisors LLC’s holdings in Arcellx were worth $630,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ACLX. Vestal Point Capital LP grew its stake in shares of Arcellx by 402.7% in the 1st quarter. Vestal Point Capital LP now owns 2,387,720 shares of the company’s stock valued at $156,634,000 after purchasing an additional 1,912,720 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in Arcellx by 135.9% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,665,138 shares of the company’s stock valued at $109,234,000 after buying an additional 959,216 shares in the last quarter. Vanguard Group Inc. grew its position in Arcellx by 19.7% in the first quarter. Vanguard Group Inc. now owns 3,985,156 shares of the company’s stock valued at $261,426,000 after acquiring an additional 655,064 shares during the period. RA Capital Management L.P. raised its stake in Arcellx by 8.9% during the first quarter. RA Capital Management L.P. now owns 3,036,527 shares of the company’s stock worth $199,196,000 after acquiring an additional 249,200 shares in the last quarter. Finally, Voya Investment Management LLC raised its stake in Arcellx by 103.4% during the first quarter. Voya Investment Management LLC now owns 277,102 shares of the company’s stock worth $18,178,000 after acquiring an additional 140,899 shares in the last quarter. Institutional investors own 96.03% of the company’s stock.

Insider Buying and Selling

In other Arcellx news, insider Christopher Heery sold 340 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $90.00, for a total transaction of $30,600.00. Following the completion of the sale, the insider directly owned 284 shares of the company’s stock, valued at approximately $25,560. The trade was a 54.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold 37,486 shares of company stock valued at $3,030,736 in the last three months. 8.35% of the stock is owned by company insiders.

Arcellx Trading Down 0.4%

Shares of ACLX stock opened at $89.99 on Wednesday. Arcellx, Inc. has a 1 year low of $47.86 and a 1 year high of $96.39. The firm’s 50 day moving average is $84.32 and its 200-day moving average is $72.97. The firm has a market capitalization of $5.20 billion, a price-to-earnings ratio of -22.90 and a beta of 0.31.

Arcellx (NASDAQ:ACLX) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.99) earnings per share for the quarter, missing the consensus estimate of ($0.96) by ($0.03). Arcellx had a negative return on equity of 51.13% and a negative net margin of 607.01%.The company had revenue of $4.95 million during the quarter, compared to the consensus estimate of $11.24 million. On average, equities research analysts forecast that Arcellx, Inc. will post -1.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ACLX shares. Stifel Nicolaus set a $129.00 target price on shares of Arcellx and gave the company a “buy” rating in a research note on Thursday, October 16th. Wolfe Research initiated coverage on shares of Arcellx in a research report on Tuesday. They issued a “peer perform” rating on the stock. Canaccord Genuity Group raised their price objective on shares of Arcellx from $121.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Scotiabank lifted their target price on shares of Arcellx from $93.00 to $133.00 and gave the company a “sector outperform” rating in a research note on Thursday, July 31st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Arcellx in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $115.50.

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).