Acuta Capital Partners LLC Has $5.19 Million Position in Arcellx, Inc. (NASDAQ:ACLX)

Acuta Capital Partners LLC grew its position in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 47.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 62,100 shares of the company's stock after acquiring an additional 19,900 shares during the quarter. Arcellx comprises about 4.2% of Acuta Capital Partners LLC's investment portfolio, making the stock its 7th largest holding. Acuta Capital Partners LLC owned about 0.11% of Arcellx worth $5,186,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in Arcellx by 8.1% in the first quarter. Vanguard Group Inc. now owns 2,228,856 shares of the company's stock worth $155,017,000 after acquiring an additional 167,037 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of Arcellx by 951.9% during the first quarter. Advisors Asset Management Inc. now owns 4,197 shares of the company's stock worth $292,000 after purchasing an additional 3,798 shares during the period. Plato Investment Management Ltd purchased a new stake in shares of Arcellx during the first quarter valued at $51,000. Harbor Capital Advisors Inc. boosted its position in shares of Arcellx by 8.3% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 20,362 shares of the company's stock valued at $1,124,000 after purchasing an additional 1,568 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Arcellx by 21.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 147,198 shares of the company's stock valued at $8,124,000 after purchasing an additional 26,134 shares during the period. Institutional investors own 96.03% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Truist Financial upped their price objective on shares of Arcellx from $87.00 to $136.00 and gave the company a "buy" rating in a research note on Tuesday, November 12th. Bank of America upped their price target on shares of Arcellx from $84.00 to $100.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. HC Wainwright lifted their price objective on shares of Arcellx from $80.00 to $95.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. Morgan Stanley increased their target price on Arcellx from $81.00 to $106.00 and gave the company an "overweight" rating in a report on Wednesday, November 6th. Finally, Robert W. Baird lifted their price target on Arcellx from $77.00 to $106.00 and gave the company an "outperform" rating in a report on Wednesday, November 6th. Thirteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Arcellx presently has a consensus rating of "Buy" and an average target price of $103.08.

Insiders Place Their Bets

In other news, insider Christopher Heery sold 3,421 shares of Arcellx stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $70.02, for a total value of $239,538.42. Following the transaction, the insider now owns 9,278 shares of the company's stock, valued at $649,645.56. This trade represents a 26.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kavita Patel sold 33,763 shares of the business's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $104.14, for a total transaction of $3,516,078.82. The disclosure for this sale can be found here. Insiders sold 97,873 shares of company stock valued at $8,621,767 over the last quarter. Insiders own 6.24% of the company's stock.

Arcellx Price Performance

NASDAQ:ACLX traded down $1.89 during mid-day trading on Thursday, reaching $89.07. The stock had a trading volume of 353,698 shares, compared to its average volume of 479,664. The stock has a market cap of $4.82 billion, a P/E ratio of -125.45 and a beta of 0.27. The business's 50 day moving average is $87.97 and its 200 day moving average is $69.69. Arcellx, Inc. has a fifty-two week low of $46.42 and a fifty-two week 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) earnings per share for the quarter, beating analysts' consensus estimates of ($0.54) by $0.06. The business had revenue of $26.03 million for the quarter, compared to the consensus estimate of $35.21 million. Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. Equities analysts expect that Arcellx, Inc. will post -1.49 EPS for the current year.

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).