Arcellx, Inc. (NASDAQ:ACLX) Director Sells $94,740.00 in Stock

Arcellx, Inc. (NASDAQ:ACLX) Director Kavita Patel sold 1,500 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $63.16, for a total transaction of $94,740.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, February 4th, Kavita Patel sold 1,500 shares of Arcellx stock. The stock was sold at an average price of $64.57, for a total transaction of $96,855.00.
• 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 transaction of $98,805.00.
• On Tuesday, December 24th, Kavita Patel sold 1,500 shares of Arcellx stock. The shares were 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.

Arcellx Stock Performance

Shares of ACLX stock opened at $62.65 on Wednesday. The stock’s fifty day moving average is $69.31 and its two-hundred day moving average is $77.56. The firm has a market capitalization of $3.39 billion, a P/E ratio of -88.24 and a beta of 0.29. Arcellx, Inc. has a fifty-two week low of $47.88 and a fifty-two week high of $107.37.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Xponance Inc. lifted its holdings in Arcellx by 8.6% in the 4th quarter. Xponance Inc. now owns 3,088 shares of the company’s stock valued at $237,000 after purchasing an additional 244 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Arcellx by 21.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,944 shares of the company’s stock worth $161,000 after acquiring an additional 347 shares during the period. KBC Group NV raised its holdings in shares of Arcellx by 37.3% during the 4th quarter. KBC Group NV now owns 1,388 shares of the company’s stock worth $106,000 after acquiring an additional 377 shares during the period. Swiss National Bank raised its holdings in shares of Arcellx by 0.8% during the 4th quarter. Swiss National Bank now owns 63,400 shares of the company’s stock worth $4,862,000 after acquiring an additional 500 shares during the period. Finally, Headlands Technologies LLC purchased a new position in shares of Arcellx during the 4th quarter worth $41,000. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Piper Sandler upped their price objective on Arcellx from $91.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Morgan Stanley lifted their price target on shares of Arcellx from $81.00 to $106.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Bank of America lifted their price target on shares of Arcellx from $84.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. UBS Group lifted their price target on shares of Arcellx from $106.00 to $114.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, Robert W. Baird lifted their price target on shares of Arcellx from $77.00 to $106.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Thirteen analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $105.93.

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).