Citigroup Inc. Purchases 21,262 Shares of Arcellx, Inc. (NASDAQ:ACLX)

Citigroup Inc. boosted its stake in Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 97.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,154 shares of the company's stock after purchasing an additional 21,262 shares during the period. Citigroup Inc. owned approximately 0.08% of Arcellx worth $3,604,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of ACLX. Quest Partners LLC purchased a new stake in Arcellx in the 2nd quarter worth $27,000. Decheng Capital LLC purchased a new stake in shares of Arcellx during the 2nd quarter valued at about $65,000. National Bank of Canada FI raised its position in shares of Arcellx by 50.0% during the 2nd quarter. National Bank of Canada FI now owns 1,500 shares of the company's stock valued at $80,000 after buying an additional 500 shares in the last quarter. Covestor Ltd raised its position in shares of Arcellx by 53,766.7% during the 3rd quarter. Covestor Ltd now owns 1,616 shares of the company's stock valued at $135,000 after buying an additional 1,613 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position 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 valued at $161,000 after buying an additional 347 shares in the last quarter. Institutional investors own 96.03% of the company's stock.

Insider Buying and Selling at Arcellx

In other Arcellx news, CFO Michelle Gilson sold 15,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $77.73, for a total transaction of $1,165,950.00. Following the transaction, the chief financial officer now owns 6,915 shares in the company, valued at $537,502.95. This trade represents a 68.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kavita Patel sold 1,500 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $74.41, for a total value of $111,615.00. The disclosure for this sale can be found here. In the last three months, insiders sold 68,501 shares of company stock valued at $6,680,008. 6.24% of the stock is owned by insiders.

Arcellx Trading Up 0.7 %

Shares of NASDAQ ACLX traded up $0.57 during trading on Thursday, reaching $86.42. 423,214 shares of the stock were exchanged, compared to its average volume of 477,631. The business's 50-day moving average price is $88.38 and its 200 day moving average price is $71.01. Arcellx, Inc. has a twelve month low of $46.42 and a twelve month high of $107.37.

Arcellx (NASDAQ:ACLX - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.48) EPS for the quarter, topping the consensus estimate of ($0.54) by $0.06. The business had revenue of $26.03 million during the quarter, compared to analyst estimates of $35.21 million. Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. Equities research analysts predict that Arcellx, Inc. will post -1.49 EPS for the current fiscal year.

Analysts Set New Price Targets

ACLX has been the topic of several recent research reports. Redburn Atlantic initiated coverage on shares of Arcellx in a research report on Tuesday, October 8th. They set a "buy" rating and a $109.00 target price on the stock. Cantor Fitzgerald restated an "overweight" rating on shares of Arcellx in a research note on Monday, September 9th. Piper Sandler increased their price objective on shares of Arcellx from $91.00 to $115.00 and gave the company an "overweight" rating in a research note on Friday, November 8th. Bank of America increased their price objective 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. Finally, Canaccord Genuity Group raised their price target on shares of Arcellx from $85.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, October 17th. Twelve research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $103.08.

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).