RA Capital Management L.P. Acquires 247,465 Shares of Arcellx, Inc. (NASDAQ:ACLX)

RA Capital Management L.P. increased its stake in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 15.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,851,479 shares of the company's stock after buying an additional 247,465 shares during the quarter. Arcellx accounts for about 1.8% of RA Capital Management L.P.'s investment portfolio, making the stock its 16th largest position. RA Capital Management L.P. owned 3.42% of Arcellx worth $154,617,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Quest Partners LLC acquired a new stake in Arcellx during the 2nd quarter worth $27,000. Decheng Capital LLC bought a new stake in shares of Arcellx in the 2nd quarter valued at about $65,000. National Bank of Canada FI boosted its stake 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 worth $80,000 after acquiring an additional 500 shares during the period. Covestor Ltd raised its position in shares of Arcellx by 53,766.7% in the third quarter. Covestor Ltd now owns 1,616 shares of the company's stock valued at $135,000 after purchasing an additional 1,613 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Arcellx by 21.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,944 shares of the company's stock worth $161,000 after acquiring an additional 347 shares during the last quarter. 96.03% of the stock is owned by institutional investors and hedge funds.

Arcellx Trading Down 0.9 %

NASDAQ ACLX traded down $0.75 on Thursday, hitting $85.10. The company's stock had a trading volume of 180,324 shares, compared to its average volume of 476,536. The company's 50-day simple moving average is $88.38 and its 200 day simple moving average is $71.01. Arcellx, Inc. has a 52-week low of $46.42 and a 52-week high of $107.37.

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

Insider Buying and Selling

In other news, CFO Michelle Gilson sold 15,000 shares of the stock in a transaction 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 directly owns 6,915 shares of the company's stock, valued at $537,502.95. This represents a 68.45 % decrease in their position. The transaction was disclosed in a filing 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, 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. Insiders have sold a total of 67,001 shares of company stock worth $6,542,188 in the last quarter. Corporate insiders own 6.24% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on ACLX shares. Morgan Stanley upped their target price on Arcellx from $81.00 to $106.00 and gave the company an "overweight" rating in a research report on Wednesday, November 6th. Barclays upgraded Arcellx to a "strong-buy" rating in a research report on Friday, November 29th. Piper Sandler increased their price objective on Arcellx from $91.00 to $115.00 and gave the company an "overweight" rating in a report on Friday, November 8th. Bank of America upped 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, Truist Financial increased their price target on Arcellx from $87.00 to $136.00 and gave the stock a "buy" rating in a report on Tuesday, November 12th. Twelve equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus 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).