Candriam S.C.A. Sells 45,367 Shares of Arcellx, Inc. (NASDAQ:ACLX)

Candriam S.C.A. lessened its stake in shares of Arcellx, Inc. (NASDAQ:ACLX) by 18.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 194,996 shares of the company’s stock after selling 45,367 shares during the period. Candriam S.C.A. owned 0.36% of Arcellx worth $14,954,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. First Turn Management LLC purchased a new stake in Arcellx in the 3rd quarter worth $17,896,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Arcellx by 4.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 328,093 shares of the company’s stock worth $27,399,000 after acquiring an additional 14,200 shares during the period. Lord Abbett & CO. LLC grew its position in shares of Arcellx by 2.1% during the third quarter. Lord Abbett & CO. LLC now owns 891,848 shares of the company’s stock worth $74,478,000 after purchasing an additional 18,004 shares in the last quarter. Intech Investment Management LLC bought a new stake in Arcellx during the 3rd quarter valued at approximately $800,000. Finally, Geode Capital Management LLC lifted its holdings in Arcellx by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 974,967 shares of the company’s stock worth $81,434,000 after purchasing an additional 39,781 shares in the last quarter. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Arcellx Price Performance

ACLX stock opened at $68.60 on Friday. Arcellx, Inc. has a 1-year low of $47.88 and a 1-year high of $107.37. The business has a 50-day moving average price of $67.82 and a 200 day moving average price of $77.53. The company has a market capitalization of $3.77 billion, a P/E ratio of -96.62 and a beta of 0.32.

Arcellx (NASDAQ:ACLX) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.87) EPS for the quarter, missing the consensus estimate of ($0.63) by ($0.24). Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. The business had revenue of $15.27 million during the quarter, compared to the consensus estimate of $27.42 million. On average, analysts anticipate that Arcellx, Inc. will post -1.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Christopher Heery sold 3,301 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $79.55, for a total transaction of $262,594.55. Following the sale, the insider now owns 35,517 shares of the company’s stock, valued at $2,825,377.35. This trade represents a 8.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kavita Patel sold 1,500 shares of the business’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $76.97, for a total transaction of $115,455.00. The disclosure for this sale can be found here. Insiders sold 64,370 shares of company stock valued at $4,189,641 over the last 90 days. Corporate insiders own 6.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ACLX shares. Piper Sandler increased their price objective on shares of Arcellx from $91.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $105.00 target price on shares of Arcellx in a research note on Monday, December 9th. Barclays upgraded shares of Arcellx to a “strong-buy” rating in a research note on Friday, November 29th. Truist Financial raised their price objective on Arcellx from $87.00 to $136.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, UBS Group boosted their target price on Arcellx from $106.00 to $114.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Thirteen investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $108.46.

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).