Cibc World Markets Corp Makes New Investment in Arcellx, Inc. (NASDAQ:ACLX)

Cibc World Markets Corp acquired a new stake in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 4,033 shares of the company's stock, valued at approximately $309,000.

Other large investors have also added to or reduced their stakes in the company. KBC Group NV increased its position in shares of Arcellx by 37.3% during the fourth quarter. KBC Group NV now owns 1,388 shares of the company's stock valued at $106,000 after buying an additional 377 shares during the period. Quarry LP purchased a new position in Arcellx during the third quarter valued at approximately $125,000. Quest Partners LLC increased its holdings in Arcellx by 210.1% during the 3rd quarter. Quest Partners LLC now owns 1,532 shares of the company's stock worth $128,000 after acquiring an additional 1,038 shares during the period. Avanza Fonder AB bought a new stake in Arcellx during the 4th quarter worth approximately $184,000. Finally, Glenmede Trust Co. NA purchased a new stake in Arcellx in the 3rd quarter worth approximately $302,000. Institutional investors own 96.03% of the company's stock.

Arcellx Stock Performance

NASDAQ:ACLX traded down $0.55 during trading hours on Friday, reaching $67.96. The company's stock had a trading volume of 367,030 shares, compared to its average volume of 534,802. The firm has a 50-day simple moving average of $66.93 and a 200-day simple moving average of $77.70. Arcellx, Inc. has a 1 year low of $47.88 and a 1 year high of $107.37. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of -95.72 and a beta of 0.32.

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Arcellx (NASDAQ:ACLX - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.87) EPS for the quarter, missing the consensus estimate of ($0.63) by ($0.24). Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. The company had revenue of $15.27 million during the quarter, compared to analysts' expectations of $27.42 million. Equities analysts anticipate that Arcellx, Inc. will post -1.58 earnings per share for the current fiscal year.

Insider Activity

In other Arcellx news, insider Rami Elghandour sold 38,300 shares of the firm's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $62.02, for a total value of $2,375,366.00. Following the sale, the insider now owns 149,186 shares of the company's stock, valued at $9,252,515.72. This trade represents a 20.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher Heery sold 10,155 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $63.79, for a total transaction of $647,787.45. Following the sale, the insider now owns 37,486 shares of the company's stock, valued at approximately $2,391,231.94. This represents a 21.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 64,370 shares of company stock valued at $4,181,646. 6.24% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

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).