Arcellx, Inc. (NASDAQ:ACLX) Director Kavita Patel Sells 1,500 Shares

Arcellx, Inc. (NASDAQ:ACLX) Director Kavita Patel sold 1,500 shares of the stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $65.87, for a total value of $98,805.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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 value of $137,820.00.
• On Friday, November 8th, Kavita Patel sold 33,763 shares of Arcellx stock. The stock was 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.
• On Tuesday, October 22nd, Kavita Patel sold 1,500 shares of Arcellx stock. The stock was sold at an average price of $89.69, for a total value of $134,535.00.

Arcellx Trading Down 4.0 %

Shares of Arcellx stock traded down $2.71 during trading on Tuesday, reaching $64.65. The company’s stock had a trading volume of 707,862 shares, compared to its average volume of 763,683. The firm has a market cap of $3.50 billion, a PE ratio of -91.06 and a beta of 0.33. Arcellx, Inc. has a fifty-two week low of $47.88 and a fifty-two week high of $107.37. The company has a 50-day moving average price of $84.04 and a two-hundred day moving average price of $76.15.

Arcellx (NASDAQ:ACLX) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.48) EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $35.21 million. On average, analysts predict that Arcellx, Inc. will post -1.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Quest Partners LLC acquired a new stake in shares of Arcellx in the second quarter worth $27,000. Decheng Capital LLC acquired a new position in shares of Arcellx during the second quarter worth $65,000. Quarry LP acquired a new stake in Arcellx during the 3rd quarter valued at $125,000. Covestor Ltd increased its position in shares of Arcellx by 53,766.7% during the third quarter. Covestor Ltd now owns 1,616 shares of the company’s stock worth $135,000 after acquiring an additional 1,613 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Arcellx by 21.7% in the 3rd 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 in the last quarter. 96.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Canaccord Genuity Group increased their price target on shares of Arcellx from $85.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Stifel Nicolaus boosted their target price on Arcellx from $83.00 to $122.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Morgan Stanley upped their price target on Arcellx from $81.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Robert W. Baird lifted their price objective on Arcellx from $77.00 to $106.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Finally, Needham & Company LLC restated a “buy” rating and issued a $105.00 price target on shares of Arcellx in a research report on Monday, December 9th. Thirteen equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Arcellx has an average rating of “Buy” and a consensus target price of $105.93.

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).