Arcellx, Inc. (NASDAQ:ACLX) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its holdings in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 23.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 144,409 shares of the company's stock after purchasing an additional 27,350 shares during the quarter. Bank of New York Mellon Corp owned 0.27% of Arcellx worth $11,075,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. RA Capital Management L.P. raised its stake in shares of Arcellx by 15.4% in the 3rd quarter. RA Capital Management L.P. now owns 1,851,479 shares of the company's stock valued at $154,617,000 after acquiring an additional 247,465 shares during the period. First Turn Management LLC acquired a new stake in Arcellx in the 3rd quarter valued at approximately $17,896,000. Janus Henderson Group PLC lifted its stake in Arcellx by 5.7% during the third quarter. Janus Henderson Group PLC now owns 2,011,950 shares of the company's stock worth $168,026,000 after purchasing an additional 109,332 shares in the last quarter. Geode Capital Management LLC lifted its stake in Arcellx by 4.3% during the third quarter. Geode Capital Management LLC now owns 974,967 shares of the company's stock worth $81,434,000 after purchasing an additional 39,781 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of Arcellx by 67.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 79,936 shares of the company's stock worth $6,675,000 after buying an additional 32,119 shares during the period. 96.03% of the stock is owned by institutional investors and hedge funds.

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Insider Activity

In other Arcellx news, insider Rami Elghandour sold 38,300 shares of the company's stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 149,186 shares of the company's stock, valued at $9,252,515.72. This represents a 20.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavita Patel sold 1,500 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $76.97, for a total value of $115,455.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 64,370 shares of company stock valued at $4,189,641. 6.24% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on ACLX shares. HC Wainwright reissued a "buy" rating and set a $115.00 target price on shares of Arcellx in a research note on Tuesday, December 10th. Barclays raised shares of Arcellx to a "strong-buy" rating in a research report on Friday, November 29th. Needham & Company LLC restated a "buy" rating and issued a $105.00 price objective on shares of Arcellx in a report on Monday, December 9th. Finally, UBS Group upped their target price on shares of Arcellx from $106.00 to $114.00 and gave the stock a "buy" rating in a research note on Tuesday, December 10th. Thirteen analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $108.46.

Arcellx Stock Performance

Shares of NASDAQ:ACLX traded up $1.06 on Monday, hitting $72.74. 472,553 shares of the company's stock were exchanged, compared to its average volume of 516,539. The firm's 50-day moving average is $66.78 and its 200 day moving average is $77.71. The company has a market capitalization of $4.00 billion, a PE ratio of -102.45 and a beta of 0.32. Arcellx, Inc. has a 1-year low of $47.88 and a 1-year high of $107.37.

Arcellx (NASDAQ:ACLX - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported ($0.87) earnings per share (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 company had revenue of $15.27 million during the quarter, compared to analyst estimates of $27.42 million. On average, analysts anticipate 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).