Bryce Point Capital LLC Invests $573,000 in Arcellx, Inc. (NASDAQ:ACLX)

Bryce Point Capital LLC purchased a new stake in shares of Arcellx, Inc. (NASDAQ:ACLX) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 7,475 shares of the company’s stock, valued at approximately $573,000.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Arcellx by 35.3% in the fourth quarter. Vanguard Group Inc. now owns 3,330,092 shares of the company’s stock worth $255,385,000 after purchasing an additional 867,996 shares in the last quarter. RA Capital Management L.P. boosted its stake in shares of 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 buying an additional 247,465 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Arcellx during the 4th quarter valued at $10,016,000. Janus Henderson Group PLC increased its stake in shares of Arcellx by 5.7% in the third quarter. Janus Henderson Group PLC now owns 2,011,950 shares of the company’s stock worth $168,026,000 after acquiring an additional 109,332 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Arcellx by 4.3% during the third quarter. Geode Capital Management LLC now owns 974,967 shares of the company’s stock worth $81,434,000 after acquiring an additional 39,781 shares in the last quarter. 96.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Arcellx

In related news, Director Kavita Patel sold 1,500 shares of the business’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $65.87, for a total value of $98,805.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Christopher Heery sold 3,061 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $77.17, for a total value of $236,217.37. Following the transaction, the insider now owns 32,456 shares of the company’s stock, valued at $2,504,629.52. This represents a 8.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 64,370 shares of company stock valued at $4,181,646 in the last 90 days. 6.24% of the stock is currently owned by company insiders.

Arcellx Stock Up 10.8 %

ACLX stock opened at $67.23 on Thursday. Arcellx, Inc. has a twelve month low of $47.88 and a twelve month high of $107.37. The company has a market cap of $3.69 billion, a PE ratio of -94.69 and a beta of 0.32. The business’s 50-day simple moving average is $66.82 and its 200 day simple moving average is $77.49.

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

Wall Street Analyst Weigh In

ACLX has been the topic of a number of recent research reports. Needham & Company LLC restated a “buy” rating and issued a $105.00 target price on shares of Arcellx in a research note on Monday, December 9th. HC Wainwright reissued a “buy” rating and issued a $115.00 price target on shares of Arcellx in a research note on Tuesday, December 10th. Finally, UBS Group raised their price objective on shares of Arcellx from $106.00 to $114.00 and gave the company 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, Arcellx currently has a consensus rating of “Buy” and an average price target of $108.46.

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).