Quarry LP Acquires New Holdings in Arcellx, Inc. (NASDAQ:ACLX)

Quarry LP bought a new position in shares of Arcellx, Inc. (NASDAQ:ACLX) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,500 shares of the company’s stock, valued at approximately $125,000.

Other institutional investors also recently modified their holdings of the company. RA Capital Management L.P. grew its position 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 worth $154,617,000 after acquiring an additional 247,465 shares during the last quarter. First Turn Management LLC acquired a new stake in shares of Arcellx during the third quarter valued at about $17,896,000. Great Point Partners LLC grew 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 worth $27,153,000 after purchasing an additional 192,000 shares during the last quarter. Affinity Asset Advisors LLC increased its stake in shares of Arcellx by 53.3% in the second quarter. Affinity Asset Advisors LLC now owns 460,000 shares of the company’s stock valued at $25,387,000 after buying an additional 160,000 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in Arcellx by 5.7% in the 3rd quarter. Janus Henderson Group PLC now owns 2,011,950 shares of the company’s stock valued at $168,026,000 after buying an additional 109,332 shares during the last quarter. 96.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ACLX has been the topic of a number of research reports. Redburn Atlantic started coverage on shares of Arcellx in a report on Tuesday, October 8th. They set a “buy” rating and a $109.00 target price on the stock. Morgan Stanley increased their price objective on Arcellx from $81.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Truist Financial lifted their target price on Arcellx from $87.00 to $136.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. HC Wainwright increased their price target on Arcellx from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcellx in a research note on Monday, September 9th. Twelve analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $103.08.

Insider Transactions at Arcellx

In related news, CFO Michelle Gilson sold 15,000 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $77.73, for a total value of $1,165,950.00. Following the transaction, the chief financial officer now directly owns 6,915 shares in the company, valued at $537,502.95. This trade represents a 68.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kavita Patel sold 1,500 shares of Arcellx stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $74.41, for a total transaction of $111,615.00. The disclosure for this sale can be found here. Insiders have sold 68,501 shares of company stock valued at $6,680,008 in the last 90 days. 6.24% of the stock is currently owned by corporate insiders.

Arcellx Stock Performance

Arcellx stock opened at $84.55 on Friday. The stock has a market capitalization of $4.57 billion, a price-to-earnings ratio of -119.08 and a beta of 0.25. Arcellx, Inc. has a 52-week low of $46.42 and a 52-week high of $107.37. The stock’s 50 day moving average price is $88.46 and its two-hundred day moving average price is $71.33.

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 business had revenue of $26.03 million for the quarter, compared to analyst estimates of $35.21 million. On average, equities research analysts forecast that Arcellx, Inc. will post -1.49 EPS for the current year.

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).