Affinity Asset Advisors LLC Increases Position in Arcellx, Inc. (NASDAQ:ACLX)

Affinity Asset Advisors LLC increased its position in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 6.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 425,000 shares of the company's stock after purchasing an additional 25,000 shares during the period. Arcellx accounts for approximately 4.4% of Affinity Asset Advisors LLC's portfolio, making the stock its 3rd largest position. Affinity Asset Advisors LLC owned 0.79% of Arcellx worth $32,593,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new stake in shares of Arcellx in the 4th quarter valued at about $41,000. KBC Group NV increased its stake in Arcellx by 37.3% in the 4th 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 purchased a new position in Arcellx in the fourth quarter worth $184,000. Kazazian Asset Management LLC acquired a new position in shares of Arcellx during the 4th quarter worth $204,000. Finally, Landscape Capital Management L.L.C. acquired a new stake in shares of Arcellx in the fourth quarter valued at about $214,000. 96.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Arcellx

In related news, Director Kavita Patel sold 1,500 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $64.57, for a total transaction of $96,855.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Rami Elghandour sold 38,300 shares of the company's stock in a transaction on 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 sale, the insider now directly owns 149,186 shares of the company's stock, valued at approximately $9,252,515.72. This represents a 20.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,455 shares of company stock valued at $3,408,458 over the last ninety days. Corporate insiders own 6.24% of the company's stock.

Arcellx Price Performance

Arcellx stock traded up $1.33 during mid-day 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 50-day simple moving average is $64.89 and its 200-day simple moving average is $75.25. Arcellx, Inc. has a 1 year low of $47.88 and a 1 year high of $107.37. The company has a market capitalization of $3.41 billion, a P/E ratio of -87.35 and a beta of 0.33.

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

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).