Insider Selling: Arcellx, Inc. (NASDAQ:ACLX) Insider Sells $647,787.45 in Stock

Arcellx, Inc. (NASDAQ:ACLX) insider Christopher Heery sold 10,155 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $63.79, for a total value of $647,787.45. Following the completion of the transaction, the insider now directly owns 37,486 shares in the company, valued at $2,391,231.94. This trade represents a 21.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Christopher Heery also recently made the following trade(s):

• On Wednesday, January 8th, Christopher Heery sold 3,553 shares of Arcellx stock. The stock was sold at an average price of $73.69, for a total value of $261,820.57.
• On Monday, January 6th, Christopher Heery sold 3,061 shares of Arcellx stock. The stock was sold at an average price of $77.17, for a total value of $236,217.37.
• On Friday, January 3rd, Christopher Heery sold 3,301 shares of Arcellx stock. The shares were sold at an average price of $79.55, for a total value of $262,594.55.

Arcellx Trading Down 3.8 %

Arcellx stock opened at $60.26 on Thursday. The stock has a market capitalization of $3.26 billion, a price-to-earnings ratio of -84.87 and a beta of 0.29. Arcellx, Inc. has a twelve month low of $47.88 and a twelve month high of $107.37. The stock has a 50 day moving average of $69.01 and a two-hundred day moving average of $77.44.

Analyst Ratings Changes

ACLX has been the subject of several recent analyst reports. Barclays upgraded shares of Arcellx to a “strong-buy” rating in a research report on Friday, November 29th. Robert W. Baird boosted their price target on shares of Arcellx from $77.00 to $106.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $105.00 price objective on shares of Arcellx in a report on Monday, December 9th. Piper Sandler boosted their target price on Arcellx from $91.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Finally, Morgan Stanley upped their target price on Arcellx from $81.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Thirteen investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Arcellx has an average rating of “Buy” and an average target price of $105.93.

Institutional Trading of Arcellx

Several hedge funds and other institutional investors have recently made changes to their positions in ACLX. GF Fund Management CO. LTD. acquired a new stake in Arcellx in the fourth quarter valued at $87,000. Voloridge Investment Management LLC grew its position in Arcellx by 5.3% during the fourth quarter. Voloridge Investment Management LLC now owns 178,198 shares of the company’s stock worth $13,666,000 after buying an additional 8,936 shares during the period. Woodline Partners LP grew its position in Arcellx by 13.2% during the fourth quarter. Woodline Partners LP now owns 125,649 shares of the company’s stock worth $9,636,000 after buying an additional 14,660 shares during the period. Soleus Capital Management L.P. increased its holdings in Arcellx by 30.1% in the fourth quarter. Soleus Capital Management L.P. now owns 121,031 shares of the company’s stock valued at $9,282,000 after buying an additional 28,000 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its position in shares of Arcellx by 24.4% during the 4th quarter. Two Sigma Advisers LP now owns 5,600 shares of the company’s stock valued at $429,000 after acquiring an additional 1,100 shares during the period. Hedge funds and other institutional investors own 96.03% of the company’s stock.

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).