Charles Schwab Investment Management Inc. Boosts Stock Position in Arcellx, Inc. (NASDAQ:ACLX)

Charles Schwab Investment Management Inc. increased its position in Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 4.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 343,085 shares of the company's stock after purchasing an additional 14,992 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.63% of Arcellx worth $26,311,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. KBC Group NV boosted its stake in shares of Arcellx by 37.3% during the 4th quarter. KBC Group NV now owns 1,388 shares of the company's stock worth $106,000 after acquiring an additional 377 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of Arcellx by 13.1% during the third quarter. Advisors Asset Management Inc. now owns 6,196 shares of the company's stock worth $517,000 after acquiring an additional 720 shares during the period. Martingale Asset Management L P grew its position in shares of Arcellx by 4.9% in the third quarter. Martingale Asset Management L P now owns 21,184 shares of the company's stock valued at $1,769,000 after purchasing an additional 992 shares during the last quarter. Quest Partners LLC increased its stake in shares of Arcellx by 210.1% during the third quarter. Quest Partners LLC now owns 1,532 shares of the company's stock worth $128,000 after purchasing an additional 1,038 shares during the period. Finally, Rhumbline Advisers lifted its holdings in Arcellx by 1.9% during the 4th quarter. Rhumbline Advisers now owns 59,903 shares of the company's stock worth $4,594,000 after purchasing an additional 1,125 shares during the last quarter. 96.03% of the stock is currently owned by institutional investors and hedge funds.

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Arcellx Price Performance

Shares of NASDAQ ACLX traded down $1.95 during mid-day trading on Friday, hitting $69.44. 691,589 shares of the stock traded hands, compared to its average volume of 519,114. The company has a market cap of $3.82 billion, a PE ratio of -97.80 and a beta of 0.32. Arcellx, Inc. has a twelve month low of $47.88 and a twelve month high of $107.37. The firm has a 50 day simple moving average of $66.56 and a two-hundred day simple moving average of $77.67.

Arcellx (NASDAQ:ACLX - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.87) earnings per share for the quarter, missing the consensus estimate of ($0.63) by ($0.24). The firm 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 anticipate that Arcellx, Inc. will post -1.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on ACLX. UBS Group lifted 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. Needham & Company LLC reiterated a "buy" rating and issued a $105.00 price target on shares of Arcellx in a research report on Monday, December 9th. HC Wainwright reissued a "buy" rating and set a $115.00 price target on shares of Arcellx in a research report on Tuesday, December 10th. Finally, Barclays raised Arcellx to a "strong-buy" rating in a report on Friday, November 29th. Thirteen equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $108.46.

Insider Buying and Selling at Arcellx

In related news, insider Rami Elghandour sold 38,300 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $62.02, for a total transaction of $2,375,366.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavita Patel sold 1,500 shares of the business's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $71.64, for a total value of $107,460.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 65,870 shares of company stock worth $4,297,101. Insiders own 6.24% of the company's stock.

About Arcellx

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).