Fmr LLC Has $541.08 Million Holdings in Arcellx, Inc. (NASDAQ:ACLX)

FMR LLC reduced its stake in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 0.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,479,273 shares of the company's stock after selling 8,061 shares during the quarter. FMR LLC owned about 11.98% of Arcellx worth $541,084,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of ACLX. First Turn Management LLC bought a new position in Arcellx during the third quarter valued at about $17,896,000. Harbor Capital Advisors Inc. grew its stake in shares of Arcellx by 37.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 27,896 shares of the company's stock worth $2,330,000 after purchasing an additional 7,534 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Arcellx during the second quarter valued at approximately $1,494,000. Great Point Partners LLC boosted its holdings in Arcellx by 64.0% during the second quarter. Great Point Partners LLC now owns 492,000 shares of the company's stock worth $27,153,000 after buying an additional 192,000 shares in the last quarter. Finally, Rhumbline Advisers grew its position in Arcellx by 14.3% in the second quarter. Rhumbline Advisers now owns 60,570 shares of the company's stock worth $3,343,000 after buying an additional 7,568 shares during the last quarter. Institutional investors and hedge funds own 96.03% of the company's stock.

Arcellx Stock Down 1.1 %

Shares of Arcellx stock traded down $1.00 during trading on Friday, hitting $88.07. 219,462 shares of the stock traded hands, compared to its average volume of 478,538. The company has a fifty day moving average price of $88.04 and a two-hundred day moving average price of $69.82. Arcellx, Inc. has a twelve month low of $46.42 and a twelve month high of $107.37.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Truist Financial raised their price objective on Arcellx from $87.00 to $136.00 and gave the stock a "buy" rating in a research note on Tuesday, November 12th. Canaccord Genuity Group boosted their price objective on Arcellx from $85.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, October 17th. Morgan Stanley raised their target price on shares of Arcellx from $81.00 to $106.00 and gave the stock an "overweight" rating in a report on Wednesday, November 6th. Bank of America upped their price target on shares of Arcellx from $84.00 to $100.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. Finally, Redburn Atlantic assumed coverage on shares of Arcellx in a research report on Tuesday, October 8th. They set a "buy" rating and a $109.00 price objective on the stock. Thirteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $103.08.

Insider Buying and Selling

In related news, Director Kavita Patel sold 1,500 shares of the firm's stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $74.41, for a total value of $111,615.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Michelle Gilson sold 15,000 shares of the business's stock in a transaction 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 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 position. The disclosure for this sale can be found here. Over the last three months, insiders sold 97,873 shares of company stock worth $8,621,767. Corporate insiders own 6.24% of the company's stock.

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).