Alliancebernstein L.P. Decreases Stock Holdings in Arcellx, Inc. (NASDAQ:ACLX)

Alliancebernstein L.P. reduced its position in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 10.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,250 shares of the company's stock after selling 6,181 shares during the period. Alliancebernstein L.P. owned 0.09% of Arcellx worth $3,930,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Wellington Management Group LLP lifted its position in Arcellx by 15.2% during the third quarter. Wellington Management Group LLP now owns 20,968 shares of the company's stock worth $1,751,000 after buying an additional 2,768 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Arcellx by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 974,967 shares of the company's stock worth $81,434,000 after purchasing an additional 39,781 shares during the period. Lord Abbett & CO. LLC increased its stake in Arcellx by 2.1% during the 3rd quarter. Lord Abbett & CO. LLC now owns 891,848 shares of the company's stock worth $74,478,000 after buying an additional 18,004 shares during the period. Avanza Fonder AB purchased a new position in Arcellx in the 4th quarter valued at approximately $184,000. Finally, KBC Group NV grew its stake 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 acquiring an additional 377 shares in the last quarter. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

Arcellx Trading Up 2.2 %

NASDAQ:ACLX traded up $1.33 during midday trading on Friday, reaching $62.02. The company had a trading volume of 833,012 shares, compared to its average volume of 558,193. The stock's fifty day simple moving average is $64.89 and its 200-day simple moving average is $75.25. Arcellx, Inc. has a 12-month low of $47.88 and a 12-month high of $107.37. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of -87.35 and a beta of 0.33.

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

Insider Activity

In other Arcellx news, Director Kavita Patel sold 1,500 shares of the company's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $71.64, for a total transaction of $107,460.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Rami Elghandour sold 38,300 shares of Arcellx stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $62.02, for a total transaction of $2,375,366.00. Following the completion of the sale, the insider now directly owns 149,186 shares in the company, valued at approximately $9,252,515.72. The trade was a 20.43 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,455 shares of company stock valued at $3,408,458. Company insiders own 6.24% of the company's stock.

Arcellx 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).