Franklin Resources Inc. Sells 4,456 Shares of Arcellx, Inc. (NASDAQ:ACLX)

Franklin Resources Inc. lessened its stake in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 7.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,297 shares of the company's stock after selling 4,456 shares during the period. Franklin Resources Inc. owned approximately 0.10% of Arcellx worth $4,011,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in ACLX. Wellington Management Group LLP boosted its stake in Arcellx by 15.2% in the 3rd quarter. Wellington Management Group LLP now owns 20,968 shares of the company's stock worth $1,751,000 after purchasing an additional 2,768 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Arcellx by 4.3% during the third quarter. Geode Capital Management LLC now owns 974,967 shares of the company's stock valued at $81,434,000 after acquiring an additional 39,781 shares in the last quarter. Lord Abbett & CO. LLC lifted its position in Arcellx by 2.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 891,848 shares of the company's stock valued at $74,478,000 after acquiring an additional 18,004 shares in the last quarter. Avanza Fonder AB purchased a new stake in Arcellx during the 4th quarter valued at $184,000. Finally, KBC Group NV increased its holdings in shares of Arcellx by 37.3% in the 4th quarter. KBC Group NV now owns 1,388 shares of the company's stock worth $106,000 after purchasing an additional 377 shares in the last quarter. 96.03% of the stock is owned by institutional investors.

Arcellx Stock Performance

Shares of NASDAQ:ACLX traded down $0.09 during midday trading on Thursday, reaching $60.60. 49,211 shares of the company's stock traded hands, compared to its average volume of 556,030. Arcellx, Inc. has a one year low of $47.88 and a one year high of $107.37. The stock has a 50 day moving average of $65.01 and a 200 day moving average of $75.54. The company has a market cap of $3.33 billion, a price-to-earnings ratio of -85.57 and a beta of 0.33.

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

Insider Buying and Selling

In related news, Director Kavita Patel sold 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $64.57, for a total value of $96,855.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Christopher Heery sold 10,155 shares of the company's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $63.79, for a total transaction of $647,787.45. Following the sale, the insider now directly owns 37,486 shares of the company's stock, valued at approximately $2,391,231.94. This represents a 21.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,455 shares of company stock valued at $3,408,458 over the last 90 days. 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).