Arcellx, Inc. $ACLX Shares Purchased by Decheng Capital LLC

Decheng Capital LLC grew its holdings in shares of Arcellx, Inc. (NASDAQ:ACLX) by 995.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 547,609 shares of the company’s stock after acquiring an additional 497,609 shares during the period. Arcellx comprises 8.4% of Decheng Capital LLC’s holdings, making the stock its 5th largest holding. Decheng Capital LLC’s holdings in Arcellx were worth $36,060,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ACLX. Vestal Point Capital LP raised its position in Arcellx by 402.7% during the 1st quarter. Vestal Point Capital LP now owns 2,387,720 shares of the company’s stock worth $156,634,000 after purchasing an additional 1,912,720 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its position in shares of 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 during the last quarter. Vanguard Group Inc. increased its stake in shares of 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 buying an additional 655,064 shares during the period. American Century Companies Inc. raised its position in shares of Arcellx by 694.3% during the second quarter. American Century Companies Inc. now owns 431,466 shares of the company’s stock worth $28,412,000 after acquiring an additional 377,145 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Arcellx by 42.9% during the second quarter. JPMorgan Chase & Co. now owns 976,968 shares of the company’s stock worth $64,333,000 after acquiring an additional 293,387 shares during the last quarter. Institutional investors own 96.03% of the company’s stock.

Arcellx Trading Up 6.0%

Shares of NASDAQ ACLX opened at $72.94 on Thursday. The firm has a market capitalization of $4.22 billion, a P/E ratio of -18.56 and a beta of 0.34. The firm’s 50-day moving average price is $84.30 and its 200-day moving average price is $74.35. Arcellx, Inc. has a 1-year low of $47.86 and a 1-year high of $94.07.

Arcellx (NASDAQ:ACLX) last issued its earnings results on Wednesday, November 5th. The company reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.03). The firm had revenue of $4.95 million during the quarter, compared to the consensus estimate of $11.24 million. Arcellx had a negative net margin of 607.01% and a negative return on equity of 51.13%. Equities research analysts forecast that Arcellx, Inc. will post -1.58 EPS for the current year.

Insider Buying and Selling at Arcellx

In related news, insider Christopher Heery sold 21,034 shares of the stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $81.28, for a total value of $1,709,643.52. Following the transaction, the insider directly owned 624 shares in the company, valued at $50,718.72. This trade represents a 97.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 37,486 shares of company stock worth $3,030,736 over the last quarter. 8.35% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Cantor Fitzgerald reiterated a “neutral” rating and issued a $88.00 target price on shares of Arcellx in a report on Thursday, October 9th. Citigroup reaffirmed a “buy” rating on shares of Arcellx in a research note on Monday, November 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcellx in a research report on Wednesday, October 8th. Guggenheim restated a “buy” rating on shares of Arcellx in a report on Monday, November 24th. Finally, Canaccord Genuity Group upped their price target on shares of Arcellx from $121.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Arcellx currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.50.

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).