Bryce Point Capital LLC Invests $573,000 in Arcellx, Inc. (NASDAQ:ACLX)

Bryce Point Capital LLC acquired a new position in Arcellx, Inc. (NASDAQ:ACLX - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 7,475 shares of the company's stock, valued at approximately $573,000.

A number of other institutional investors have also added to or reduced their stakes in ACLX. Trexquant Investment LP purchased a new position in Arcellx during the fourth quarter worth about $555,000. Headlands Technologies LLC bought a new stake in Arcellx in the fourth quarter valued at $41,000. Geode Capital Management LLC lifted its position in Arcellx by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 979,026 shares of the company's stock valued at $75,098,000 after buying an additional 4,059 shares during the period. Pictet Asset Management Holding SA grew its stake in shares of Arcellx by 40.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 4,945 shares of the company's stock worth $379,000 after buying an additional 1,426 shares during the last quarter. Finally, Norges Bank purchased a new position in Arcellx in the fourth quarter worth about $2,090,000. Hedge funds and other institutional investors own 96.03% of the company's stock.

Arcellx Stock Performance

Shares of NASDAQ:ACLX traded up $0.37 on Tuesday, reaching $57.02. The company's stock had a trading volume of 163,222 shares, compared to its average volume of 546,845. The company has a 50-day simple moving average of $66.55 and a 200 day simple moving average of $77.03. The company has a market cap of $3.13 billion, a P/E ratio of -80.29 and a beta of 0.33. 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 issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.63) by ($0.24). The business had revenue of $15.27 million for the quarter, compared to the consensus estimate of $27.42 million. Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. On average, equities research analysts forecast that Arcellx, Inc. will post -1.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ACLX shares. Needham & Company LLC reissued a "buy" rating and set a $105.00 price objective on shares of Arcellx in a report on Monday, December 9th. HC Wainwright reaffirmed a "buy" rating and issued a $115.00 target price on shares of Arcellx in a report on Tuesday, December 10th. Finally, UBS Group increased their price objective 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. Twelve research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $110.67.

Insiders Place Their Bets

In other news, insider Rami Elghandour sold 38,300 shares of the firm's stock in a transaction 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 transaction, the insider now owns 149,186 shares in the company, valued at approximately $9,252,515.72. This trade represents a 20.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Christopher Heery sold 3,553 shares of the business's stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $73.69, for a total transaction of $261,820.57. Following the completion of the sale, the insider now owns 25,085 shares of the company's stock, valued at approximately $1,848,513.65. This represents a 12.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 58,008 shares of company stock worth $3,682,834 in the last three months. Corporate 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).