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

Arcellx, Inc. (NASDAQ:ACLX) Director Kavita Patel sold 1,500 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $76.97, for a total transaction of $115,455.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Tuesday, December 3rd, Kavita Patel sold 1,500 shares of Arcellx stock. The stock was sold at an average price of $91.88, for a total value of $137,820.00.
• On Friday, November 8th, Kavita Patel sold 33,763 shares of Arcellx stock. The stock was sold at an average price of $104.14, for a total value of $3,516,078.82.
• On Monday, November 11th, Kavita Patel sold 15,238 shares of Arcellx stock. The stock was sold at an average price of $105.92, for a total value of $1,614,008.96.
• On Tuesday, October 22nd, Kavita Patel sold 1,500 shares of Arcellx stock. The shares were sold at an average price of $89.69, for a total transaction of $134,535.00.

Arcellx Stock Performance

Shares of NASDAQ ACLX traded up $1.44 during midday trading on Thursday, hitting $79.02. The company’s stock had a trading volume of 279,789 shares, compared to its average volume of 489,039. Arcellx, Inc. has a 1-year low of $47.88 and a 1-year high of $107.37. The firm’s fifty day moving average price is $87.83 and its 200-day moving average price is $74.03. The firm has a market cap of $4.27 billion, a P/E ratio of -111.29 and a beta of 0.25.

Arcellx (NASDAQ:ACLX) last issued its earnings results on Thursday, November 7th. The company reported ($0.48) EPS for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.06. The company had revenue of $26.03 million during the quarter, compared to the consensus estimate of $35.21 million. Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. As a group, research analysts predict that Arcellx, Inc. will post -1.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ACLX shares. Barclays upgraded shares of Arcellx to a “strong-buy” rating in a research note on Friday, November 29th. Canaccord Genuity Group raised their target price on Arcellx from $85.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Redburn Atlantic started coverage on Arcellx in a research note on Tuesday, October 8th. They issued a “buy” rating and a $109.00 price target on the stock. Truist Financial raised their price objective on Arcellx from $87.00 to $136.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcellx in a research report on Monday, September 9th. Thirteen equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $105.93.

Institutional Investors Weigh In On Arcellx

Several large investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC boosted its holdings in shares of Arcellx by 5.7% during the third quarter. Janus Henderson Group PLC now owns 2,011,950 shares of the company’s stock valued at $168,026,000 after acquiring an additional 109,332 shares during the period. RA Capital Management L.P. boosted its stake in Arcellx by 15.4% during the 3rd quarter. RA Capital Management L.P. now owns 1,851,479 shares of the company’s stock valued at $154,617,000 after purchasing an additional 247,465 shares during the period. Geode Capital Management LLC grew its position 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 during the last quarter. Lord Abbett & CO. LLC increased its stake in shares of Arcellx by 2.1% in the third quarter. Lord Abbett & CO. LLC now owns 891,848 shares of the company’s stock valued at $74,478,000 after purchasing an additional 18,004 shares during the period. Finally, Great Point Partners LLC raised its holdings in shares of Arcellx by 64.0% during the second quarter. Great Point Partners LLC now owns 492,000 shares of the company’s stock valued at $27,153,000 after buying an additional 192,000 shares during 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).