Arcellx, Inc. (NASDAQ:ACLX) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its holdings in Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 56.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,948 shares of the company's stock after selling 8,980 shares during the period. Allspring Global Investments Holdings LLC's holdings in Arcellx were worth $580,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quest Partners LLC bought a new position in Arcellx in the second quarter worth approximately $27,000. National Bank of Canada FI increased its stake in shares of Arcellx by 50.0% during the second quarter. National Bank of Canada FI now owns 1,500 shares of the company's stock valued at $80,000 after buying an additional 500 shares during the period. High Net Worth Advisory Group LLC raised its holdings in shares of Arcellx by 6.3% in the third quarter. High Net Worth Advisory Group LLC now owns 8,500 shares of the company's stock valued at $710,000 after acquiring an additional 500 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Arcellx by 1.4% during the 2nd quarter. Principal Financial Group Inc. now owns 37,352 shares of the company's stock worth $2,061,000 after acquiring an additional 517 shares in the last quarter. Finally, Plato Investment Management Ltd purchased a new position in Arcellx during the 1st quarter valued at about $51,000. 96.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ACLX. Redburn Atlantic assumed coverage on shares of Arcellx in a research note on Tuesday, October 8th. They set a "buy" rating and a $109.00 price objective on the stock. Cantor Fitzgerald reiterated an "overweight" rating on shares of Arcellx in a report on Monday, September 9th. Canaccord Genuity Group upped their price objective on Arcellx from $85.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday, October 17th. Needham & Company LLC reaffirmed a "buy" rating and set a $96.00 price objective on shares of Arcellx in a research report on Thursday. Finally, Stifel Nicolaus boosted their target price on shares of Arcellx from $83.00 to $122.00 and gave the stock a "buy" rating in a report on Friday, October 18th. Twelve analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $89.75.

Arcellx Trading Up 2.3 %

Shares of NASDAQ:ACLX traded up $1.90 on Friday, hitting $86.17. 522,636 shares of the company were exchanged, compared to its average volume of 462,695. The stock's 50 day moving average price is $80.61 and its 200 day moving average price is $64.54. Arcellx, Inc. has a 1-year low of $35.01 and a 1-year high of $97.54. The firm has a market capitalization of $4.63 billion, a P/E ratio of -82.86 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) earnings per share for the quarter, beating 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 business had revenue of $27.38 million for the quarter, compared to analyst estimates of $22.04 million. Arcellx's quarterly revenue was up 91.5% compared to the same quarter last year. On average, equities analysts predict that Arcellx, Inc. will post -1.65 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Kavita Patel sold 1,500 shares of the business's stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $89.69, for a total transaction of $134,535.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Kavita Patel sold 1,500 shares of the firm's stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $89.69, for a total transaction of $134,535.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Michelle Gilson sold 15,000 shares of Arcellx stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $77.73, for a total value of $1,165,950.00. Following the transaction, the chief financial officer now owns 6,915 shares of the company's stock, valued at approximately $537,502.95. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,556 shares of company stock valued at $5,033,845. 6.24% of the stock is owned by insiders.

Arcellx Company 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).