Knott David M Jr Increases Stock Position in Arcellx, Inc. $ACLX

Knott David M Jr raised its position in Arcellx, Inc. (NASDAQ:ACLX) by 71.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,700 shares of the company’s stock after buying an additional 10,700 shares during the period. Arcellx comprises 0.8% of Knott David M Jr’s investment portfolio, making the stock its 23rd biggest position. Knott David M Jr’s holdings in Arcellx were worth $1,692,000 at the end of the most recent quarter.

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

Arcellx Price Performance

Shares of Arcellx stock opened at $89.98 on Monday. The stock’s 50 day simple moving average is $83.57 and its 200-day simple moving average is $72.62. The stock has a market cap of $5.20 billion, a P/E ratio of -22.90 and a beta of 0.31. Arcellx, Inc. has a 1-year low of $47.86 and a 1-year high of $96.39.

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

Wall Street Analysts Forecast Growth

ACLX has been the topic of a number of research analyst reports. Canaccord Genuity Group lifted their price target on shares of Arcellx from $121.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcellx in a research report on Wednesday, October 8th. Cantor Fitzgerald reissued a “neutral” rating and set a $88.00 target price on shares of Arcellx in a research note on Thursday, October 9th. Scotiabank raised their price target 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, Stifel Nicolaus set a $129.00 price objective on Arcellx and gave the stock a “buy” rating in a report on Thursday, October 16th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Arcellx currently has an average rating of “Moderate Buy” and an average price target of $115.50.

Insider Buying and Selling at Arcellx

In related news, insider Christopher Heery sold 21,034 shares of the company’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $81.28, for a total value of $1,709,643.52. Following the completion of the sale, the insider owned 624 shares of the company’s stock, valued at approximately $50,718.72. This represents a 97.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 37,146 shares of company stock worth $3,000,136. Insiders own 8.35% of the company’s stock.

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).