NEOS Investment Management LLC Has $573,000 Position in Arcellx, Inc. (NASDAQ:ACLX)

NEOS Investment Management LLC decreased its holdings in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 37.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 7,468 shares of the company's stock after selling 4,442 shares during the period. NEOS Investment Management LLC's holdings in Arcellx were worth $573,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in ACLX. Vanguard Group Inc. grew its stake in shares of Arcellx by 35.3% during the fourth quarter. Vanguard Group Inc. now owns 3,330,092 shares of the company's stock worth $255,385,000 after purchasing an additional 867,996 shares during the period. KLP Kapitalforvaltning AS bought a new position in Arcellx during the fourth quarter worth about $506,000. Sei Investments Co. grew its position in shares of Arcellx by 99.3% during the 4th quarter. Sei Investments Co. now owns 9,688 shares of the company's stock worth $743,000 after buying an additional 4,827 shares during the period. American Century Companies Inc. bought a new stake in shares of Arcellx in the 4th quarter valued at about $2,258,000. Finally, Teacher Retirement System of Texas raised its position in shares of Arcellx by 18.7% in the 4th quarter. Teacher Retirement System of Texas now owns 9,556 shares of the company's stock valued at $733,000 after acquiring an additional 1,505 shares during the period. Institutional investors and hedge funds own 96.03% of the company's stock.

Insider Activity at Arcellx

In related news, insider Rami Elghandour sold 38,300 shares of the company's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $62.02, for a total transaction of $2,375,366.00. Following the sale, the insider now owns 149,186 shares in the company, valued at approximately $9,252,515.72. This represents a 20.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Christopher Heery sold 3,061 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $77.17, for a total value of $236,217.37. Following the transaction, the insider now directly owns 32,456 shares of the company's stock, valued at $2,504,629.52. This trade represents a 8.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,069 shares of company stock valued at $3,919,051. Corporate insiders own 6.24% of the company's stock.

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Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. HC Wainwright restated a "buy" rating and set a $115.00 price objective on shares of Arcellx in a report on Tuesday, December 10th. UBS Group lifted their price target on shares of Arcellx from $106.00 to $114.00 and gave the stock a "buy" rating in a research report on Tuesday, December 10th. Finally, Needham & Company LLC restated a "buy" rating and issued a $105.00 price objective on shares of Arcellx in a research report on Monday, December 9th. Thirteen research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Arcellx presently has an average rating of "Buy" and a consensus price target of $108.46.

Arcellx Trading Down 6.2 %

Shares of Arcellx stock traded down $3.85 during trading on Friday, reaching $58.59. The stock had a trading volume of 1,136,082 shares, compared to its average volume of 545,046. The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of -82.52 and a beta of 0.32. The stock has a fifty day moving average price of $66.67 and a two-hundred day moving average price of $77.26. Arcellx, Inc. has a 52 week low of $47.88 and a 52 week high of $107.37.

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

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).