FORA Capital LLC Buys Shares of 12,935 Arcellx, Inc. (NASDAQ:ACLX)

FORA Capital LLC bought a new stake in Arcellx, Inc. (NASDAQ:ACLX) in the 3rd quarter, HoldingsChannel reports. The firm bought 12,935 shares of the company’s stock, valued at approximately $1,080,000.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Arcellx by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 2,228,856 shares of the company’s stock valued at $155,017,000 after buying an additional 167,037 shares in the last quarter. Great Point Partners LLC grew its holdings in Arcellx by 64.0% in the 2nd quarter. Great Point Partners LLC now owns 492,000 shares of the company’s stock valued at $27,153,000 after buying an additional 192,000 shares in the last quarter. Affinity Asset Advisors LLC grew its holdings in Arcellx by 53.3% in the 2nd 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 in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Arcellx by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 328,093 shares of the company’s stock worth $27,399,000 after purchasing an additional 14,200 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in shares of Arcellx by 20.4% during the 2nd quarter. Victory Capital Management Inc. now owns 283,872 shares of the company’s stock worth $15,667,000 after purchasing an additional 48,006 shares during the period. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

Arcellx Price Performance

ACLX stock opened at $89.07 on Thursday. The firm has a market capitalization of $4.82 billion, a P/E ratio of -125.45 and a beta of 0.27. The business’s 50-day moving average is $87.97 and its two-hundred day moving average is $69.69. Arcellx, Inc. has a 1 year low of $46.42 and a 1 year high of $107.37.

Arcellx (NASDAQ:ACLX) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.06. The company had revenue of $26.03 million for the quarter, compared to analyst estimates of $35.21 million. Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. On average, analysts expect that Arcellx, Inc. will post -1.49 EPS for the current year.

Insider Buying and Selling at Arcellx

In other news, CFO Michelle Gilson sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $77.73, for a total transaction of $1,165,950.00. Following the sale, the chief financial officer now owns 6,915 shares of the company’s stock, valued at approximately $537,502.95. This trade represents a 68.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kavita Patel sold 15,238 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $105.92, for a total value of $1,614,008.96. The disclosure for this sale can be found here. Insiders have sold 97,873 shares of company stock valued at $8,621,767 in the last quarter. Corporate insiders own 6.24% of the company’s stock.

Wall Street Analyst Weigh In

ACLX has been the subject of a number of research analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $96.00 price target on shares of Arcellx in a report on Wednesday, November 6th. HC Wainwright increased their price target on Arcellx from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Bank of America increased their price target on Arcellx from $84.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Robert W. Baird increased their price target on Arcellx from $77.00 to $106.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcellx in a report on Monday, September 9th. Thirteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $103.08.

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).