Geode Capital Management LLC Acquires 39,781 Shares of Arcellx, Inc. (NASDAQ:ACLX)

Geode Capital Management LLC grew its position in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 4.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 974,967 shares of the company's stock after purchasing an additional 39,781 shares during the quarter. Geode Capital Management LLC owned 1.80% of Arcellx worth $81,434,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Quest Partners LLC acquired a new stake in Arcellx during the second quarter valued at approximately $27,000. Decheng Capital LLC bought a new position in shares of Arcellx in the second quarter valued at $65,000. National Bank of Canada FI lifted its position in shares of Arcellx by 50.0% during the 2nd quarter. National Bank of Canada FI now owns 1,500 shares of the company's stock valued at $80,000 after acquiring an additional 500 shares during the last quarter. Quarry LP acquired a new stake in shares of Arcellx during the 3rd quarter valued at $125,000. Finally, Covestor Ltd boosted its stake in shares of Arcellx by 53,766.7% during the 3rd quarter. Covestor Ltd now owns 1,616 shares of the company's stock worth $135,000 after acquiring an additional 1,613 shares in the last quarter. Institutional investors own 96.03% of the company's stock.

Insider Activity

In other news, Director Kavita Patel sold 15,238 shares of the business's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $105.92, for a total value of $1,614,008.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders have sold 52,001 shares of company stock valued at $5,402,443. Insiders own 6.24% of the company's stock.

Arcellx Stock Up 0.4 %

ACLX stock traded up $0.33 during trading hours on Friday, hitting $75.54. The company's stock had a trading volume of 1,372,259 shares, compared to its average volume of 491,145. The stock has a 50 day moving average price of $88.59 and a two-hundred day moving average price of $73.49. Arcellx, Inc. has a 12 month low of $47.88 and a 12 month high of $107.37. The company has a market capitalization of $4.08 billion, a PE ratio of -106.39 and a beta of 0.25.

Arcellx (NASDAQ:ACLX - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $26.03 million during the quarter, compared to analysts' expectations of $35.21 million. Sell-side analysts expect that Arcellx, Inc. will post -1.49 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ACLX shares. Redburn Atlantic initiated coverage on Arcellx in a report on Tuesday, October 8th. They set a "buy" rating and a $109.00 target price for the company. Barclays raised shares of Arcellx to a "strong-buy" rating in a research note on Friday, November 29th. Piper Sandler lifted their target price on shares of Arcellx from $91.00 to $115.00 and gave the stock an "overweight" rating in a research report on Friday, November 8th. Truist Financial boosted their price target on shares of Arcellx from $87.00 to $136.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $105.00 price objective on shares of Arcellx in a research note on Monday, December 9th. Thirteen research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $105.93.

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).