Gilead Sciences Inc. Takes Position in Arcellx, Inc. (NASDAQ:ACLX)

Gilead Sciences Inc. bought a new position in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 6,720,803 shares of the company's stock, valued at approximately $515,418,000. Arcellx makes up approximately 33.2% of Gilead Sciences Inc.'s portfolio, making the stock its largest position. Gilead Sciences Inc. owned about 12.43% of Arcellx as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of ACLX. Headlands Technologies LLC acquired a new stake in Arcellx in the 4th quarter valued at about $41,000. KBC Group NV raised its stake in Arcellx by 37.3% in the fourth quarter. KBC Group NV now owns 1,388 shares of the company's stock valued at $106,000 after buying an additional 377 shares during the period. Avanza Fonder AB acquired a new stake in shares of Arcellx in the fourth quarter valued at approximately $184,000. Kazazian Asset Management LLC bought a new position in shares of Arcellx during the 4th quarter worth approximately $204,000. Finally, Landscape Capital Management L.L.C. acquired a new position in shares of Arcellx during the 4th quarter worth approximately $214,000. 96.03% of the stock is owned by institutional investors and hedge funds.

Arcellx Price Performance

ACLX stock traded up $2.44 during midday trading on Wednesday, reaching $65.56. 82,724 shares of the company were exchanged, compared to its average volume of 554,700. Arcellx, Inc. has a one year low of $47.88 and a one year high of $107.37. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of -92.34 and a beta of 0.33. The business has a 50-day moving average price of $64.83 and a two-hundred day moving average price of $75.04.

Arcellx (NASDAQ:ACLX - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.24). The firm had revenue of $15.27 million during the quarter, compared to the consensus estimate of $27.42 million. Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. As a group, analysts anticipate that Arcellx, Inc. will post -1.58 earnings per share for the current fiscal year.

Insider Activity at Arcellx

In related news, insider Christopher Heery sold 10,155 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $63.79, for a total value of $647,787.45. Following the completion of the transaction, the insider now owns 37,486 shares of the company's stock, valued at $2,391,231.94. The trade was a 21.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kavita Patel sold 1,500 shares of the stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $57.50, for a total transaction of $86,250.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,455 shares of company stock worth $3,408,458. Corporate insiders own 6.24% 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).