Charles Schwab Investment Management Inc. Has $27.40 Million Stock Holdings in Arcellx, Inc. (NASDAQ:ACLX)

Charles Schwab Investment Management Inc. boosted its stake in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 4.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 328,093 shares of the company's stock after acquiring an additional 14,200 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.61% of Arcellx worth $27,399,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ACLX. First Turn Management LLC purchased a new position in Arcellx during the third quarter valued at approximately $17,896,000. Great Point Partners LLC raised its position in 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 acquiring an additional 192,000 shares in the last quarter. Affinity Asset Advisors LLC grew its holdings in Arcellx by 53.3% in the second quarter. Affinity Asset Advisors LLC now owns 460,000 shares of the company's stock valued at $25,387,000 after purchasing an additional 160,000 shares during the period. abrdn plc acquired a new stake in shares of Arcellx in the third quarter worth approximately $4,242,000. Finally, Victory Capital Management Inc. boosted its stake in shares of Arcellx by 20.4% in the second quarter. Victory Capital Management Inc. now owns 283,872 shares of the company's stock worth $15,667,000 after acquiring an additional 48,006 shares during the last quarter. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Arcellx

In other news, CFO Michelle Gilson sold 15,000 shares of the company's stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $77.73, for a total transaction of $1,165,950.00. Following the completion of the transaction, the chief financial officer now directly owns 6,915 shares of the company's stock, valued at approximately $537,502.95. This represents a 68.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavita Patel sold 1,500 shares of the company's stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $74.41, for a total value of $111,615.00. The disclosure for this sale can be found here. Insiders sold a total of 67,001 shares of company stock valued at $6,542,188 over the last three months. 6.24% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ACLX has been the topic of a number of recent research reports. Needham & Company LLC reissued a "buy" rating and set a $96.00 price objective on shares of Arcellx in a research note on Wednesday, November 6th. Redburn Atlantic initiated coverage on Arcellx in a research report on Tuesday, October 8th. They issued a "buy" rating and a $109.00 target price on the stock. Stifel Nicolaus lifted their target price on Arcellx from $83.00 to $122.00 and gave the company a "buy" rating in a research report on Friday, October 18th. Canaccord Genuity Group boosted their price objective on Arcellx from $85.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, October 17th. Finally, HC Wainwright boosted their price objective on Arcellx from $80.00 to $95.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. Twelve 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, Arcellx has a consensus rating of "Buy" and a consensus price target of $103.08.

Arcellx Stock Performance

Arcellx stock traded up $0.57 during mid-day trading on Thursday, hitting $86.42. 423,955 shares of the company were exchanged, compared to its average volume of 477,631. The business's 50 day simple moving average is $88.38 and its two-hundred day simple moving average is $71.01. Arcellx, Inc. has a 12-month low of $46.42 and a 12-month high of $107.37.

Arcellx (NASDAQ:ACLX - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.48) EPS for the quarter, beating analysts' consensus estimates of ($0.54) by $0.06. The business had revenue of $26.03 million during the quarter, compared to the consensus estimate of $35.21 million. Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. On average, analysts anticipate that Arcellx, Inc. will post -1.49 EPS for the current fiscal year.

Arcellx Company 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).