Harbor Capital Advisors Inc. Purchases 7,534 Shares of Arcellx, Inc. (NASDAQ:ACLX)

Harbor Capital Advisors Inc. raised its holdings in Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 37.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,896 shares of the company's stock after purchasing an additional 7,534 shares during the quarter. Harbor Capital Advisors Inc. owned 0.05% of Arcellx worth $2,330,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the company. Quest Partners LLC purchased a new position in shares of Arcellx during the second quarter valued at $27,000. Plato Investment Management Ltd acquired a new position in shares of Arcellx in the 1st quarter valued at $51,000. Decheng Capital LLC acquired a new stake in Arcellx during the 2nd quarter worth $65,000. National Bank of Canada FI grew its holdings in shares of 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 in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Arcellx by 21.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,944 shares of the company's stock worth $161,000 after purchasing an additional 347 shares during the period. Hedge funds and other institutional investors own 96.03% of the company's stock.

Arcellx Stock Performance

NASDAQ ACLX traded up $0.68 during trading hours on Tuesday, hitting $87.12. The company had a trading volume of 2,327,210 shares, compared to its average volume of 473,011. The firm has a market capitalization of $4.68 billion, a price-to-earnings ratio of -83.77 and a beta of 0.27. The firm has a 50 day simple moving average of $81.21 and a 200 day simple moving average of $65.15. Arcellx, Inc. has a 52 week low of $43.50 and a 52 week high of $97.54.

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

Analyst Ratings Changes

A number of analysts recently commented on the company. Stifel Nicolaus raised their price target on Arcellx from $83.00 to $122.00 and gave the stock a "buy" rating in a research note on Friday, October 18th. Redburn Atlantic initiated coverage on shares of Arcellx in a research report on Tuesday, October 8th. They set a "buy" rating and a $109.00 price objective for the company. Needham & Company LLC reiterated a "buy" rating and issued a $96.00 target price on shares of Arcellx in a research note on Thursday, October 31st. Cantor Fitzgerald reissued an "overweight" rating on shares of Arcellx in a report on Monday, September 9th. Finally, Canaccord Genuity Group boosted their price target on shares of Arcellx from $85.00 to $115.00 and gave the company a "buy" rating in a research report on Thursday, October 17th. Twelve research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $89.75.

Insider Transactions at Arcellx

In related news, insider Christopher Heery sold 27,451 shares of the firm's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $67.03, for a total transaction of $1,840,040.53. Following the sale, the insider now owns 9,278 shares in the company, valued at approximately $621,904.34. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Christopher Heery sold 27,451 shares of the company's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $67.03, for a total value of $1,840,040.53. Following the completion of the transaction, the insider now owns 9,278 shares in the company, valued at approximately $621,904.34. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kavita Patel sold 1,500 shares of the firm's stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $74.41, for a total transaction of $111,615.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,556 shares of company stock valued at $5,033,845. Company insiders own 6.24% of the company's stock.

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).