Insider Selling: Arcellx, Inc. (NASDAQ:ACLX) Director Sells 1,500 Shares of Stock

Arcellx, Inc. (NASDAQ:ACLX) Director Kavita Patel sold 1,500 shares of Arcellx stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $64.57, for a total value of $96,855.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Tuesday, January 14th, Kavita Patel sold 1,500 shares of Arcellx stock. The shares were sold at an average price of $65.87, for a total value of $98,805.00.
• 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 transaction 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 transaction of $137,820.00.
• On Friday, November 8th, Kavita Patel sold 33,763 shares of Arcellx stock. The shares were 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 shares were sold at an average price of $105.92, for a total value of $1,614,008.96.

Arcellx Trading Down 0.5 %

Arcellx stock opened at $68.24 on Friday. The firm has a market capitalization of $3.69 billion, a PE ratio of -96.11 and a beta of 0.29. Arcellx, Inc. has a 12-month low of $47.88 and a 12-month high of $107.37. The firm has a 50-day moving average price of $75.27 and a 200-day moving average price of $76.84.

Arcellx (NASDAQ:ACLX) last announced its earnings results on Thursday, November 7th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $0.06. Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. The business had revenue of $26.03 million during the quarter, compared to analyst estimates of $35.21 million. As a group, sell-side analysts predict that Arcellx, Inc. will post -1.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Canaccord Genuity Group lifted their target price on Arcellx from $85.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Bank of America lifted their price objective on shares of Arcellx from $84.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Morgan Stanley upped their target price on shares of Arcellx from $81.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Barclays upgraded shares of Arcellx to a “strong-buy” rating in a report on Friday, November 29th. Finally, Piper Sandler increased their price objective on shares of Arcellx from $91.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Thirteen equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $105.93.

Hedge Funds Weigh In On Arcellx

A number of large investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. increased its stake in Arcellx by 21.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,944 shares of the company’s stock worth $161,000 after purchasing an additional 347 shares during the period. KBC Group NV grew its holdings in shares of Arcellx by 37.3% in the fourth quarter. KBC Group NV now owns 1,388 shares of the company’s stock worth $106,000 after purchasing an additional 377 shares during the last quarter. High Net Worth Advisory Group LLC increased its stake in Arcellx by 6.3% in the 3rd quarter. High Net Worth Advisory Group LLC now owns 8,500 shares of the company’s stock worth $710,000 after buying an additional 500 shares during the period. Advisors Asset Management Inc. lifted its holdings in Arcellx by 13.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 6,196 shares of the company’s stock valued at $517,000 after buying an additional 720 shares in the last quarter. Finally, Martingale Asset Management L P boosted its position in Arcellx by 4.9% in the 3rd quarter. Martingale Asset Management L P now owns 21,184 shares of the company’s stock valued at $1,769,000 after buying an additional 992 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).