Insider Buying: Arcellx, Inc. (NASDAQ:ACLX) Major Shareholder Purchases 312,500 Shares of Stock

Arcellx, Inc. (NASDAQ:ACLX – Get Rating) major shareholder Enterprise Associates 15 New purchased 312,500 shares of the stock in a transaction on Tuesday, June 21st. The stock was acquired at an average cost of $16.00 per share, with a total value of $5,000,000.00. Following the acquisition, the insider now owns 6,745,262 shares of the company’s stock, valued at approximately $107,924,192. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Shares of NASDAQ:ACLX traded up $1.23 during trading on Thursday, hitting $16.81. The stock had a trading volume of 216,249 shares, compared to its average volume of 205,944. Arcellx, Inc. has a 12-month low of $6.03 and a 12-month high of $26.91. The business’s 50-day moving average price is $12.30.

Arcellx (NASDAQ:ACLX – Get Rating) last announced its quarterly earnings data on Thursday, May 12th. The company reported ($1.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.95) by ($0.61). Research analysts expect that Arcellx, Inc. will post -6.17 EPS for the current fiscal year.

Several equities research analysts have weighed in on ACLX shares. SVB Leerink lowered their price target on Arcellx from $47.00 to $38.00 and set an “outperform” rating for the company in a report on Thursday. Barclays started coverage on Arcellx in a report on Wednesday, March 2nd. They issued an “overweight” rating for the company. Bank of America began coverage on Arcellx in a report on Tuesday, March 1st. They issued a “buy” rating and a $24.00 price target for the company. Finally, William Blair restated an “outperform” rating on shares of Arcellx in a research note on Tuesday, March 1st.

Large investors have recently made changes to their positions in the company. New York State Common Retirement Fund purchased a new position in Arcellx during the first quarter valued at approximately $72,000. SR One Capital Management LP purchased a new position in Arcellx during the first quarter valued at approximately $77,110,000. JPMorgan Chase & Co. purchased a new position in Arcellx during the first quarter valued at approximately $60,000. Bank of New York Mellon Corp purchased a new position in Arcellx during the first quarter valued at approximately $332,000. Finally, AJU IB Investment Co. Ltd. purchased a new position in Arcellx during the first quarter valued at approximately $19,360,000. Hedge funds and other institutional investors own 44.64% of the company’s stock.

Arcellx Company Profile (Get Rating)

Arcellx, Inc, a clinical-stage biotechnology company, engages in the development of various immunotherapies for patients with cancer and other incurable diseases. The company's lead ddCAR product candidate is CART-ddBCMA, which is in phase 1 clinical trial for the treatment of patients with relapsed or refractory (r/r) multiple myeloma (MM).

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