Intech Investment Management LLC purchased a new stake in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,579 shares of the company's stock, valued at approximately $800,000.
Other hedge funds also recently bought and sold shares of the company. Quest Partners LLC bought a new stake in shares of Arcellx in the second quarter valued at about $27,000. Decheng Capital LLC bought a new stake in shares of Arcellx in the second quarter valued at about $65,000. National Bank of Canada FI lifted its stake in shares of Arcellx by 50.0% in the second quarter. National Bank of Canada FI now owns 1,500 shares of the company's stock valued at $80,000 after buying an additional 500 shares during the period. Covestor Ltd lifted its stake in shares of Arcellx by 53,766.7% in the third quarter. Covestor Ltd now owns 1,616 shares of the company's stock valued at $135,000 after buying an additional 1,613 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Arcellx by 21.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,944 shares of the company's stock valued at $161,000 after buying an additional 347 shares during the period. 96.03% of the stock is currently owned by institutional investors.
Arcellx Stock Performance
Shares of NASDAQ ACLX traded down $1.00 during mid-day trading on Friday, hitting $88.07. 219,462 shares of the stock were exchanged, compared to its average volume of 478,538. The company has a market cap of $4.76 billion, a P/E ratio of -124.04 and a beta of 0.27. The stock's fifty day simple moving average is $88.07 and its two-hundred day simple moving average is $70.23. 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 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 net margin of 25.94% and a negative return on equity of 8.28%. As a group, equities research analysts predict that Arcellx, Inc. will post -1.49 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
ACLX has been the subject of several research reports. Stifel Nicolaus increased their target price 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. Piper Sandler raised their price target on shares of Arcellx from $91.00 to $115.00 and gave the stock an "overweight" rating in a research note on Friday, November 8th. Bank of America raised their price target on shares of Arcellx from $84.00 to $100.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. HC Wainwright raised their price target on shares of Arcellx from $80.00 to $95.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. Finally, Redburn Atlantic assumed coverage on shares of Arcellx in a research note on Tuesday, October 8th. They set a "buy" rating and a $109.00 price target for the company. Thirteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $103.08.
Read Our Latest Stock Analysis on ACLX
Insider Activity at Arcellx
In related news, insider Christopher Heery sold 3,421 shares of the firm's stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $70.02, for a total value of $239,538.42. Following the completion of the sale, the insider now owns 9,278 shares of the company's stock, valued at $649,645.56. This trade represents a 26.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kavita Patel sold 33,763 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $104.14, for a total transaction of $3,516,078.82. The disclosure for this sale can be found here. Insiders sold a total of 97,873 shares of company stock valued at $8,621,767 over the last quarter. Corporate insiders own 6.24% of the company's stock.
Arcellx Company Profile
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Free Report)
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).
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