Erste Asset Management GmbH Takes Position in Arcellx, Inc. (NASDAQ:ACLX)

Erste Asset Management GmbH bought a new position in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 21,000 shares of the company's stock, valued at approximately $1,738,000.

A number of other large investors also recently modified their holdings of the company. Quest Partners LLC acquired a new position in Arcellx in the 2nd quarter valued at approximately $27,000. Decheng Capital LLC bought a new stake in Arcellx during the second quarter valued at $65,000. National Bank of Canada FI grew its holdings in Arcellx by 50.0% during the 2nd quarter. National Bank of Canada FI now owns 1,500 shares of the company's stock worth $80,000 after acquiring an additional 500 shares during the period. Covestor Ltd lifted its stake in shares of Arcellx by 53,766.7% in the 3rd quarter. Covestor Ltd now owns 1,616 shares of the company's stock valued at $135,000 after purchasing an additional 1,613 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Arcellx by 21.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,944 shares of the company's stock worth $161,000 after purchasing an additional 347 shares in the last quarter. 96.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Canaccord Genuity Group raised their price target on shares of Arcellx from $85.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, October 17th. Truist Financial boosted their price objective on Arcellx from $87.00 to $136.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. Piper Sandler boosted their price target on shares of Arcellx from $91.00 to $115.00 and gave the company an "overweight" rating in a research note on Friday, November 8th. Stifel Nicolaus raised their price objective on shares of Arcellx from $83.00 to $122.00 and gave the company a "buy" rating in a research note on Friday, October 18th. Finally, HC Wainwright upped their target price on shares of Arcellx from $80.00 to $95.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. Thirteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Arcellx currently has a consensus rating of "Buy" and a consensus target price of $103.08.

Arcellx Stock Down 3.2 %

Arcellx stock traded down $2.80 during trading on Wednesday, hitting $85.85. The stock had a trading volume of 340,543 shares, compared to its average volume of 477,860. The stock's 50 day moving average is $88.35 and its two-hundred day moving average is $70.91. Arcellx, Inc. has a 1 year low of $46.42 and a 1 year high of $107.37. The stock has a market cap of $4.64 billion, a price-to-earnings ratio of -124.86 and a beta of 0.25.

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

Insider Buying and Selling at Arcellx

In other Arcellx news, Director Kavita Patel sold 15,238 shares of the firm's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $105.92, for a total transaction of $1,614,008.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Christopher Heery sold 3,421 shares of the company's stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $70.02, for a total value of $239,538.42. Following the completion of the transaction, the insider now owns 9,278 shares of the company's stock, valued at $649,645.56. The trade was a 26.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 70,422 shares of company stock valued at $6,781,726 in the last 90 days. 6.24% of the stock is currently owned by company insiders.

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).