Thrivent Financial for Lutherans cut its stake in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 24.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,240 shares of the company's stock after selling 15,785 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.09% of Arcellx worth $4,029,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its holdings in shares of Arcellx by 6.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,344,553 shares of the company's stock worth $93,514,000 after acquiring an additional 84,373 shares during the period. Harbor Capital Advisors Inc. grew its position in Arcellx by 37.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 27,896 shares of the company's stock worth $2,330,000 after purchasing an additional 7,534 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Arcellx in the second quarter valued at approximately $1,494,000. Great Point Partners LLC raised its holdings in shares of Arcellx by 64.0% during the second quarter. Great Point Partners LLC now owns 492,000 shares of the company's stock valued at $27,153,000 after buying an additional 192,000 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in shares of Arcellx by 14.3% during the second quarter. Rhumbline Advisers now owns 60,570 shares of the company's stock worth $3,343,000 after buying an additional 7,568 shares during the period. 96.03% of the stock is owned by institutional investors.
Arcellx Stock Performance
Shares of NASDAQ:ACLX traded down $1.03 during midday trading on Monday, reaching $89.41. The company had a trading volume of 531,481 shares, compared to its average volume of 480,198. The company has a fifty day simple moving average of $87.29 and a two-hundred day simple moving average of $69.00. The firm has a market cap of $4.84 billion, a price-to-earnings ratio of -130.11 and a beta of 0.27. Arcellx, Inc. has a 1-year low of $46.42 and a 1-year high of $107.37.
Arcellx (NASDAQ:ACLX - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported ($0.48) earnings per share for the quarter, topping the consensus estimate of ($0.54) by $0.06. Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. The business had revenue of $26.03 million for the quarter, compared to the consensus estimate of $35.21 million. Analysts expect that Arcellx, Inc. will post -1.49 EPS for the current year.
Insider Activity
In other news, CFO Michelle Gilson sold 15,000 shares of the business's stock in a transaction on Tuesday, September 17th. The shares were 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 in the company, valued at $537,502.95. The trade was a 68.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kavita Patel sold 33,763 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $104.14, for a total value of $3,516,078.82. The disclosure for this sale can be found here. Insiders sold 97,873 shares of company stock worth $8,621,767 over the last quarter. Corporate insiders own 6.24% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts recently commented on the company. Piper Sandler raised their target price on Arcellx from $91.00 to $115.00 and gave the company an "overweight" rating in a research report on Friday, November 8th. Robert W. Baird lifted their price objective on shares of Arcellx from $77.00 to $106.00 and gave the company an "outperform" rating in a research note on Wednesday, November 6th. Needham & Company LLC reiterated a "buy" rating and issued a $96.00 target price on shares of Arcellx in a research report on Wednesday, November 6th. Redburn Atlantic began coverage on shares of Arcellx in a research note on Tuesday, October 8th. They issued a "buy" rating and a $109.00 price target for the company. Finally, Morgan Stanley raised their price objective on shares of Arcellx from $81.00 to $106.00 and gave the company an "overweight" rating in a research note on Wednesday, November 6th. Thirteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $103.08.
Check Out Our Latest Research Report on ACLX
About Arcellx
(
Free Report)
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).
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