Insider Selling: Arcellx, Inc. (NASDAQ:ACLX) Director Sells 1,500 Shares of Stock

Arcellx, Inc. (NASDAQ:ACLX - Get Free Report) Director Kavita Patel sold 1,500 shares of the company's stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $57.50, for a total value of $86,250.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Kavita Patel also recently made the following trade(s):

• On Tuesday, March 18th, Kavita Patel sold 1,500 shares of Arcellx stock. The stock was sold at an average price of $71.64, for a total transaction of $107,460.00.
• On Tuesday, February 25th, Kavita Patel sold 1,500 shares of Arcellx stock. The shares were sold at an average price of $63.16, for a total transaction of $94,740.00.
• On Tuesday, February 4th, Kavita Patel sold 1,500 shares of Arcellx stock. The shares were sold at an average price of $64.57, for a total value of $96,855.00.
• On Tuesday, January 14th, Kavita Patel sold 1,500 shares of Arcellx stock. The stock was sold at an average price of $65.87, for a total value of $98,805.00.

Arcellx Price Performance

ACLX stock traded up $2.49 during midday trading on Friday, reaching $59.15. 731,572 shares of the company were exchanged, compared to its average volume of 557,303. Arcellx, Inc. has a one year low of $47.88 and a one year high of $107.37. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of -83.31 and a beta of 0.33. The business has a 50-day moving average price of $65.44 and a two-hundred day moving average price of $75.90.

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

Institutional Trading of Arcellx

Several institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its holdings in shares of Arcellx by 6.4% during the first quarter. Rhumbline Advisers now owns 63,751 shares of the company's stock worth $4,182,000 after buying an additional 3,848 shares in the last quarter. GAMMA Investing LLC increased its position in Arcellx by 13,290.9% during the first quarter. GAMMA Investing LLC now owns 32,406 shares of the company's stock worth $21,260,000 after acquiring an additional 32,164 shares during the period. GF Fund Management CO. LTD. acquired a new stake in Arcellx in the 4th quarter worth about $87,000. Voloridge Investment Management LLC boosted its holdings in Arcellx by 5.3% in the 4th quarter. Voloridge Investment Management LLC now owns 178,198 shares of the company's stock valued at $13,666,000 after purchasing an additional 8,936 shares during the period. Finally, Woodline Partners LP grew its position in shares of Arcellx by 13.2% during the 4th quarter. Woodline Partners LP now owns 125,649 shares of the company's stock worth $9,636,000 after purchasing an additional 14,660 shares in the last quarter. 96.03% of the stock is currently owned by institutional investors.

About Arcellx

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).