JPMorgan Chase & Co. Cuts Stake in Arcellx, Inc. (NASDAQ:ACLX)

JPMorgan Chase & Co. lessened its position in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 10.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 224,456 shares of the company's stock after selling 25,667 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.42% of Arcellx worth $17,214,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ACLX. KBC Group NV grew its position in shares of Arcellx by 37.3% during the 4th quarter. KBC Group NV now owns 1,388 shares of the company's stock worth $106,000 after buying an additional 377 shares during the period. Avanza Fonder AB bought a new position in Arcellx during the 4th quarter valued at $184,000. Kazazian Asset Management LLC purchased a new position in Arcellx during the fourth quarter worth about $204,000. Xponance Inc. boosted its stake in shares of Arcellx by 8.6% in the 4th quarter. Xponance Inc. now owns 3,088 shares of the company's stock worth $237,000 after buying an additional 244 shares during the last quarter. Finally, Cibc World Markets Corp bought a new position in Arcellx in the 4th quarter valued at $309,000. Institutional investors own 96.03% of the company's stock.

Arcellx Stock Performance

ACLX stock traded up $0.15 during mid-day trading on Thursday, hitting $60.84. The company had a trading volume of 43,695 shares, compared to its average volume of 556,003. The firm has a market cap of $3.34 billion, a PE ratio of -85.80 and a beta of 0.33. The stock's fifty day moving average price is $65.01 and its two-hundred day moving average price is $75.54. Arcellx, Inc. has a 12 month low of $47.88 and a 12 month high of $107.37.

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

Insider Transactions at Arcellx

In other Arcellx news, Director Kavita Patel sold 1,500 shares of the firm's stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $57.50, for a total value of $86,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Rami Elghandour sold 38,300 shares of the business's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $62.02, for a total value of $2,375,366.00. Following the transaction, the insider now owns 149,186 shares of the company's stock, valued at approximately $9,252,515.72. The trade was a 20.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,455 shares of company stock valued at $3,408,458 over the last three months. Company insiders own 6.24% of the company's stock.

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).