Squarepoint Ops LLC Has $874,000 Stake in Arcellx, Inc. (NASDAQ:ACLX)

Squarepoint Ops LLC reduced its position in Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 86.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,829 shares of the company's stock after selling 105,182 shares during the period. Squarepoint Ops LLC's holdings in Arcellx were worth $874,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ACLX. PFM Health Sciences LP increased its position in Arcellx by 39.5% in the 4th quarter. PFM Health Sciences LP now owns 335,198 shares of the company's stock worth $18,603,000 after purchasing an additional 94,860 shares during the last quarter. Perceptive Advisors LLC increased its position in Arcellx by 14.6% in the 4th quarter. Perceptive Advisors LLC now owns 4,544,809 shares of the company's stock worth $252,237,000 after purchasing an additional 578,831 shares during the last quarter. Vanguard Group Inc. increased its position in Arcellx by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 2,061,819 shares of the company's stock worth $114,431,000 after purchasing an additional 23,262 shares during the last quarter. High Net Worth Advisory Group LLC increased its holdings in shares of Arcellx by 14.3% during the 1st quarter. High Net Worth Advisory Group LLC now owns 8,000 shares of the company's stock valued at $556,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Arcellx during the 1st quarter valued at about $804,000. 96.03% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, 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 transaction of $84,945.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Michelle Gilson sold 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $77.73, for a total transaction of $1,165,950.00. Following the completion of the transaction, the chief financial officer now owns 6,915 shares in the company, valued at $537,502.95. This trade represents a 0.00 % decrease in their position. The transaction 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 firm's stock in a transaction on Tuesday, July 9th. The shares were 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. In the last quarter, insiders sold 86,628 shares of company stock worth $6,009,342. 6.24% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

Arcellx Stock Down 2.8 %

Shares of ACLX stock traded down $2.16 during mid-day trading on Monday, reaching $76.07. The stock had a trading volume of 324,275 shares, compared to its average volume of 460,472. The firm's 50 day simple moving average is $70.00 and its 200 day simple moving average is $61.40. Arcellx, Inc. has a one year low of $30.88 and a one year high of $88.66. The firm has a market cap of $4.07 billion, a PE ratio of -73.68 and a beta of 0.25.

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

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).