Arcellx, Inc. (NASDAQ:ACLX) Director Kavita Patel Sells 1,500 Shares

Arcellx, Inc. (NASDAQ:ACLX) Director Kavita Patel sold 1,500 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $63.16, for a total value of $94,740.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Kavita Patel also recently made the following trade(s):

• On Tuesday, February 4th, Kavita Patel sold 1,500 shares of Arcellx stock. The shares were sold at an average price of $64.57, for a total transaction of $96,855.00.
• On Tuesday, January 14th, Kavita Patel sold 1,500 shares of Arcellx stock. The shares were sold at an average price of $65.87, for a total transaction of $98,805.00.
• On Tuesday, December 24th, Kavita Patel sold 1,500 shares of Arcellx stock. The stock was sold at an average price of $76.97, for a total transaction of $115,455.00.
• On Tuesday, December 3rd, Kavita Patel sold 1,500 shares of Arcellx stock. The shares were sold at an average price of $91.88, for a total transaction of $137,820.00.

Arcellx Stock Down 0.6 %

NASDAQ:ACLX traded down $0.36 on Tuesday, hitting $62.65. The stock had a trading volume of 689,845 shares, compared to its average volume of 638,090. Arcellx, Inc. has a 52 week low of $47.88 and a 52 week high of $107.37. The business’s fifty day moving average is $69.31 and its 200 day moving average is $77.56. The company has a market cap of $3.39 billion, a PE ratio of -88.24 and a beta of 0.29.

Analyst Upgrades and Downgrades

ACLX has been the subject of a number of analyst reports. Barclays upgraded shares of Arcellx to a “strong-buy” rating in a report on Friday, November 29th. Morgan Stanley increased their price objective on shares of Arcellx from $81.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Truist Financial boosted their target price on shares of Arcellx from $87.00 to $136.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Bank of America raised their price objective on Arcellx from $84.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, Piper Sandler boosted their price objective on Arcellx from $91.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Thirteen research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Arcellx presently has a consensus rating of “Buy” and a consensus price target of $105.93.

Hedge Funds Weigh In On Arcellx

Institutional investors have recently modified their holdings of the company. GF Fund Management CO. LTD. bought a new stake in Arcellx during the 4th quarter valued at $87,000. Voloridge Investment Management LLC grew its holdings in shares of Arcellx by 5.3% during the fourth quarter. Voloridge Investment Management LLC now owns 178,198 shares of the company’s stock valued at $13,666,000 after buying an additional 8,936 shares during the last quarter. Woodline Partners LP increased its position in shares of Arcellx by 13.2% during the fourth quarter. Woodline Partners LP now owns 125,649 shares of the company’s stock worth $9,636,000 after acquiring an additional 14,660 shares in the last quarter. Soleus Capital Management L.P. raised its holdings in shares of Arcellx by 30.1% in the 4th quarter. Soleus Capital Management L.P. now owns 121,031 shares of the company’s stock worth $9,282,000 after acquiring an additional 28,000 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its position in Arcellx by 24.4% in the 4th quarter. Two Sigma Advisers LP now owns 5,600 shares of the company’s stock valued at $429,000 after acquiring an additional 1,100 shares in the last quarter. 96.03% of the stock is owned by institutional investors and hedge funds.

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).