Parkman Healthcare Partners LLC Has $3.41 Million Stake in Arcellx, Inc. (NASDAQ:ACLX)

Parkman Healthcare Partners LLC decreased its holdings in shares of Arcellx, Inc. (NASDAQ:ACLX) by 33.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 44,492 shares of the company’s stock after selling 22,000 shares during the period. Parkman Healthcare Partners LLC’s holdings in Arcellx were worth $3,412,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Headlands Technologies LLC acquired a new position in Arcellx during the fourth quarter valued at approximately $41,000. KBC Group NV grew its holdings in Arcellx by 37.3% during the fourth quarter. KBC Group NV now owns 1,388 shares of the company’s stock valued at $106,000 after purchasing an additional 377 shares during the period. Avanza Fonder AB bought a new position in Arcellx in the fourth quarter valued at approximately $184,000. Kazazian Asset Management LLC bought a new position in Arcellx in the fourth quarter valued at approximately $204,000. Finally, Landscape Capital Management L.L.C. bought a new position in Arcellx in the fourth quarter valued at approximately $214,000. Institutional investors and hedge funds own 96.03% of the company’s stock.

Insider Transactions at Arcellx

In other news, insider Rami Elghandour sold 38,300 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $62.02, for a total transaction of $2,375,366.00. Following the completion of the transaction, the insider now owns 149,186 shares of the company’s stock, valued at approximately $9,252,515.72. The trade was a 20.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavita Patel sold 1,500 shares of the stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $64.20, for a total transaction of $96,300.00. The disclosure for this sale can be found here. Insiders have sold 54,455 shares of company stock worth $3,407,903 in the last ninety days. Company insiders own 6.24% of the company’s stock.

Analyst Ratings Changes

Separately, Scotiabank cut their price objective 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 investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $109.31.

Arcellx Stock Performance

Arcellx stock opened at $58.25 on Wednesday. Arcellx, Inc. has a 52-week low of $47.86 and a 52-week high of $107.37. The firm has a 50 day moving average price of $64.11 and a two-hundred day moving average price of $72.42. The firm has a market cap of $3.21 billion, a price-to-earnings ratio of -82.04 and a beta of 0.34.

Arcellx (NASDAQ:ACLX) last posted 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). Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. The business had revenue of $8.13 million during the quarter, compared to analyst estimates of $19.51 million. As a group, equities research analysts predict that Arcellx, Inc. will post -1.58 EPS for the current fiscal year.

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).