Intech Investment Management LLC Raises Position in Arcellx, Inc. (NASDAQ:ACLX)

Intech Investment Management LLC raised its position in Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 79.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,207 shares of the company's stock after purchasing an additional 7,628 shares during the period. Intech Investment Management LLC's holdings in Arcellx were worth $1,320,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. KBC Group NV raised its position in shares of Arcellx by 37.3% in the fourth quarter. KBC Group NV now owns 1,388 shares of the company's stock worth $106,000 after buying an additional 377 shares in the last quarter. Quarry LP bought a new position in Arcellx in the 3rd quarter worth about $125,000. Quest Partners LLC raised its holdings in shares of Arcellx by 210.1% in the 3rd quarter. Quest Partners LLC now owns 1,532 shares of the company's stock valued at $128,000 after acquiring an additional 1,038 shares in the last quarter. Avanza Fonder AB bought a new stake in shares of Arcellx during the 4th quarter valued at about $184,000. Finally, Glenmede Trust Co. NA bought a new stake in shares of Arcellx during the 3rd quarter valued at about $302,000. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

Arcellx Stock Down 2.8 %

Shares of NASDAQ ACLX traded down $2.05 during midday trading on Wednesday, reaching $70.11. The company had a trading volume of 507,410 shares, compared to its average volume of 519,957. The stock has a market cap of $3.85 billion, a PE ratio of -98.75 and a beta of 0.32. Arcellx, Inc. has a one year low of $47.88 and a one year high of $107.37. The firm's fifty day moving average price is $66.82 and its 200-day moving average price is $77.86.

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

Insider Buying and Selling at Arcellx

In related news, Director Kavita Patel sold 1,500 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $64.57, for a total transaction of $96,855.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher Heery sold 3,061 shares of the firm's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $77.17, for a total value of $236,217.37. Following the completion of the sale, the insider now directly owns 32,456 shares of the company's stock, valued at $2,504,629.52. The trade was a 8.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 64,370 shares of company stock valued at $4,181,646 in the last quarter. Company insiders own 6.24% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ACLX. UBS Group raised their target price on shares of Arcellx from $106.00 to $114.00 and gave the company a "buy" rating in a research note on Tuesday, December 10th. HC Wainwright reissued a "buy" rating and issued a $115.00 price target on shares of Arcellx in a report on Tuesday, December 10th. Barclays raised shares of Arcellx to a "strong-buy" rating in a report on Friday, November 29th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $105.00 target price on shares of Arcellx in a research note on Monday, December 9th. Thirteen investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Arcellx has a consensus rating of "Buy" and an average target price of $108.46.

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).