Lord Abbett & CO. LLC raised its position in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 2.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 891,848 shares of the company's stock after acquiring an additional 18,004 shares during the period. Lord Abbett & CO. LLC owned approximately 1.65% of Arcellx worth $74,478,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Quest Partners LLC acquired a new position in Arcellx during the second quarter worth $27,000. Decheng Capital LLC acquired a new position in Arcellx during the second quarter worth approximately $65,000. National Bank of Canada FI increased its position in Arcellx by 50.0% in 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 period. Quarry LP acquired a new stake in shares of Arcellx in the 3rd quarter worth $125,000. Finally, Covestor Ltd grew 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 purchasing an additional 1,613 shares during the period. 96.03% of the stock is owned by hedge funds and other institutional investors.
Arcellx Trading Up 0.5 %
ACLX stock traded up $0.38 during midday trading on Friday, hitting $83.80. The company had a trading volume of 411,147 shares, compared to its average volume of 480,544. Arcellx, Inc. has a 52 week low of $47.88 and a 52 week high of $107.37. The stock's 50 day moving average price is $88.93 and its 200 day moving average price is $72.72. The stock has a market cap of $4.53 billion, a price-to-earnings ratio of -118.03 and a beta of 0.25.
Arcellx (NASDAQ:ACLX - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported ($0.48) earnings per share for the quarter, beating 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 business had revenue of $26.03 million during the quarter, compared to analyst estimates of $35.21 million. Analysts predict that Arcellx, Inc. will post -1.49 earnings per share for the current year.
Insider Transactions at Arcellx
In other Arcellx news, CFO Michelle Gilson sold 15,000 shares of the company's stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $77.73, for a total value of $1,165,950.00. Following the completion of the sale, the chief financial officer now directly owns 6,915 shares in the company, valued at $537,502.95. This represents a 68.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kavita Patel sold 1,500 shares of the business's stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $91.88, for a total transaction of $137,820.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 67,001 shares of company stock worth $6,568,393. Insiders own 6.24% of the company's stock.
Analyst Ratings Changes
A number of research analysts have issued reports on the stock. Stifel Nicolaus upped their target price on shares of Arcellx from $83.00 to $122.00 and gave the company a "buy" rating in a report on Friday, October 18th. Cantor Fitzgerald restated an "overweight" rating on shares of Arcellx in a research report on Monday, September 9th. Redburn Atlantic assumed coverage on Arcellx in a research report on Tuesday, October 8th. They set a "buy" rating and a $109.00 price target on the stock. Piper Sandler upped their target price on Arcellx from $91.00 to $115.00 and gave the company an "overweight" rating in a report on Friday, November 8th. Finally, HC Wainwright restated a "buy" rating and set a $115.00 price objective on shares of Arcellx in a research report on Tuesday, December 10th. Thirteen research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $105.93.
Read Our Latest Research Report on Arcellx
Arcellx Profile
(
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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