Rhenman & Partners Asset Management AB Grows Stock Holdings in Arcellx, Inc. (NASDAQ:ACLX)

Rhenman & Partners Asset Management AB lifted its position in Arcellx, Inc. (NASDAQ:ACLX) by 35.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 43,500 shares of the company’s stock after buying an additional 11,500 shares during the period. Rhenman & Partners Asset Management AB’s holdings in Arcellx were worth $3,336,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Wells Fargo & Company MN grew its holdings in Arcellx by 35.7% in the fourth quarter. Wells Fargo & Company MN now owns 26,638 shares of the company’s stock worth $2,043,000 after purchasing an additional 7,002 shares during the last quarter. Landscape Capital Management L.L.C. acquired a new stake in shares of Arcellx in the 4th quarter worth $214,000. Bryce Point Capital LLC acquired a new stake in shares of Arcellx in the 4th quarter worth $573,000. Trexquant Investment LP purchased a new position in Arcellx during the 4th quarter worth $555,000. Finally, Headlands Technologies LLC acquired a new position in Arcellx during the 4th quarter valued at about $41,000. Institutional investors own 96.03% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on ACLX shares. Needham & Company LLC reissued a “buy” rating and issued a $105.00 price target on shares of Arcellx in a report on Monday, December 9th. HC Wainwright reiterated a “buy” rating and issued a $115.00 target price on shares of Arcellx in a research note on Tuesday, December 10th. Finally, UBS Group upped 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. Twelve equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $110.67.

Arcellx Stock Performance

Shares of ACLX opened at $58.59 on Friday. The business’s 50-day moving average is $66.67 and its two-hundred day moving average is $77.26. The company has a market capitalization of $3.22 billion, a P/E ratio of -82.52 and a beta of 0.32. Arcellx, Inc. has a fifty-two week low of $47.88 and a fifty-two week high of $107.37.

Arcellx (NASDAQ:ACLX) last posted its earnings results on Thursday, February 27th. The company reported ($0.87) EPS for the quarter, missing the consensus estimate of ($0.63) by ($0.24). Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. The company had revenue of $15.27 million for the quarter, compared to analyst estimates of $27.42 million. Analysts forecast that Arcellx, Inc. will post -1.58 EPS for the current year.

Insider Transactions at Arcellx

In other Arcellx news, insider Rami Elghandour sold 38,300 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $62.02, for a total value of $2,375,366.00. Following the completion of the transaction, the insider now owns 149,186 shares in the company, valued at approximately $9,252,515.72. This represents a 20.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kavita Patel sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $65.87, for a total value of $98,805.00. The disclosure for this sale can be found here. Insiders have sold 61,069 shares of company stock valued at $3,919,051 in the last 90 days. 6.24% of the stock is currently owned by company insiders.

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).