Insider Selling: Arcellx, Inc. (NASDAQ:ACLX) Director Sells 1,500 Shares of Stock

Arcellx, Inc. (NASDAQ:ACLX) Director Kavita Patel sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $64.57, for a total value of $96,855.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, January 14th, Kavita Patel sold 1,500 shares of Arcellx stock. The shares were sold at an average price of $65.87, for a total transaction of $98,805.00.
• On Tuesday, December 24th, Kavita Patel sold 1,500 shares of Arcellx stock. The stock was sold at an average price of $76.97, for a total value of $115,455.00.
• 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 transaction of $137,820.00.
• On Friday, November 8th, Kavita Patel sold 33,763 shares of Arcellx stock. The shares were sold at an average price of $104.14, for a total transaction 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 transaction of $1,614,008.96.

Arcellx Price Performance

ACLX opened at $67.72 on Wednesday. The firm has a market cap of $3.66 billion, a PE ratio of -95.38 and a beta of 0.29. The stock has a 50-day moving average price of $75.68 and a 200-day moving average price of $76.90. Arcellx, Inc. has a 1 year low of $47.88 and a 1 year high of $107.37.

Arcellx (NASDAQ:ACLX) last issued its earnings results on Thursday, November 7th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.54) by $0.06. Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. The firm had revenue of $26.03 million for the quarter, compared to the consensus estimate of $35.21 million. As a group, sell-side analysts anticipate that Arcellx, Inc. will post -1.58 EPS for the current year.

Institutional Trading of Arcellx

Institutional investors and hedge funds have recently modified their holdings of the business. KBC Group NV boosted its position in shares of 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 buying an additional 377 shares during the last quarter. Quarry LP bought a new stake in shares of Arcellx in the third quarter worth approximately $125,000. Quest Partners LLC raised its holdings in shares of Arcellx by 210.1% during the third quarter. Quest Partners LLC now owns 1,532 shares of the company’s stock valued at $128,000 after purchasing an additional 1,038 shares during the last quarter. Covestor Ltd raised its holdings in shares of Arcellx by 53,766.7% during the third quarter. Covestor Ltd now owns 1,616 shares of the company’s stock valued at $135,000 after purchasing an additional 1,613 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Arcellx by 21.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,944 shares of the company’s stock valued at $161,000 after purchasing an additional 347 shares during the period. Institutional investors own 96.03% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ACLX shares. Robert W. Baird lifted their price objective on Arcellx from $77.00 to $106.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Bank of America lifted their price target on shares of Arcellx from $84.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Canaccord Genuity Group upped their price objective on shares of Arcellx from $85.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Truist Financial lifted their target price on shares of Arcellx from $87.00 to $136.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, 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. Thirteen investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Arcellx presently has a consensus rating of “Buy” and a consensus target price of $105.93.

About Arcellx

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).