Renaissance Technologies LLC Makes New $1.49 Million Investment in Arcellx, Inc. (NASDAQ:ACLX)

Renaissance Technologies LLC acquired a new position in Arcellx, Inc. (NASDAQ:ACLX - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 27,072 shares of the company's stock, valued at approximately $1,494,000. Renaissance Technologies LLC owned 0.05% of Arcellx as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vestal Point Capital LP bought a new position in Arcellx in the fourth quarter worth approximately $3,330,000. PFM Health Sciences LP lifted its position in Arcellx by 39.5% during the fourth quarter. PFM Health Sciences LP now owns 335,198 shares of the company's stock valued at $18,603,000 after purchasing an additional 94,860 shares in the last quarter. Perceptive Advisors LLC grew its holdings in Arcellx by 14.6% during the fourth quarter. Perceptive Advisors LLC now owns 4,544,809 shares of the company's stock valued at $252,237,000 after purchasing an additional 578,831 shares during the period. Vanguard Group Inc. increased its position in Arcellx by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 2,061,819 shares of the company's stock worth $114,431,000 after buying an additional 23,262 shares in the last quarter. Finally, High Net Worth Advisory Group LLC raised its stake in shares of Arcellx by 14.3% in the first quarter. High Net Worth Advisory Group LLC now owns 8,000 shares of the company's stock worth $556,000 after buying an additional 1,000 shares during the period. Hedge funds and other institutional investors own 96.03% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ACLX shares. Truist Financial reissued a "buy" rating and issued a $87.00 target price on shares of Arcellx in a report on Tuesday, June 18th. Canaccord Genuity Group restated a "buy" rating and set a $85.00 target price on shares of Arcellx in a research note on Monday, July 22nd. Needham & Company LLC reiterated a "buy" rating and issued a $81.00 price target on shares of Arcellx in a research note on Friday, August 9th. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Arcellx in a research report on Monday, September 9th. Fourteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Arcellx presently has a consensus rating of "Buy" and an average price target of $78.00.

Arcellx Price Performance

Shares of Arcellx stock traded up $2.03 during trading hours on Friday, reaching $78.23. The company's stock had a trading volume of 408,390 shares, compared to its average volume of 461,150. Arcellx, Inc. has a one year low of $30.88 and a one year high of $88.66. The firm has a 50 day moving average price of $70.00 and a 200-day moving average price of $61.56. The stock has a market cap of $4.19 billion, a P/E ratio of -75.95 and a beta of 0.25.

Arcellx (NASDAQ:ACLX - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.52) by $0.01. The business had revenue of $27.38 million during the quarter, compared to analyst estimates of $22.04 million. Arcellx had a negative return on equity of 12.42% and a negative net margin of 37.23%. The firm's revenue was up 91.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Arcellx, Inc. will post -1.65 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Christopher Heery sold 3,671 shares of the stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $60.01, for a total value of $220,296.71. Following the sale, the insider now owns 9,278 shares of the company's stock, valued at approximately $556,772.78. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Christopher Heery sold 3,671 shares of the stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $60.01, for a total value of $220,296.71. Following the sale, the insider now directly owns 9,278 shares in the company, valued at approximately $556,772.78. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kavita Patel sold 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $56.63, for a total value of $84,945.00. The disclosure for this sale can be found here. Insiders sold 86,628 shares of company stock valued at $6,009,342 over the last three months. 6.24% of the stock is owned by company insiders.

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).