Norges Bank Takes Position in Arcellx, Inc. (NASDAQ:ACLX)

Norges Bank purchased a new stake in Arcellx, Inc. (NASDAQ:ACLX - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 27,251 shares of the company's stock, valued at approximately $2,090,000. Norges Bank owned about 0.05% of Arcellx at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ACLX. Wellington Management Group LLP grew its position in shares of Arcellx by 15.2% during the 3rd quarter. Wellington Management Group LLP now owns 20,968 shares of the company's stock worth $1,751,000 after purchasing an additional 2,768 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Arcellx by 4.3% during the third quarter. Geode Capital Management LLC now owns 974,967 shares of the company's stock worth $81,434,000 after buying an additional 39,781 shares in the last quarter. Lord Abbett & CO. LLC raised its position in Arcellx by 2.1% in the third quarter. Lord Abbett & CO. LLC now owns 891,848 shares of the company's stock valued at $74,478,000 after purchasing an additional 18,004 shares during the last quarter. Avanza Fonder AB acquired a new stake in Arcellx during the 4th quarter worth approximately $184,000. Finally, KBC Group NV grew its stake in shares of Arcellx by 37.3% in the fourth quarter. KBC Group NV now owns 1,388 shares of the company's stock worth $106,000 after purchasing an additional 377 shares during the last quarter. Institutional investors own 96.03% of the company's stock.

Insider Transactions at Arcellx

In other news, Director Kavita Patel sold 1,500 shares of Arcellx stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $57.50, for a total value of $86,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher Heery sold 10,155 shares of the company's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $63.79, for a total transaction of $647,787.45. Following the completion of the transaction, the insider now directly owns 37,486 shares in the company, valued at approximately $2,391,231.94. The trade was a 21.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,455 shares of company stock worth $3,408,458 in the last quarter. 6.24% of the stock is currently owned by corporate insiders.

Arcellx Price Performance

Shares of Arcellx stock traded up $0.19 during midday trading on Thursday, reaching $60.88. The company had a trading volume of 43,695 shares, compared to its average volume of 556,003. The firm has a market cap of $3.35 billion, a PE ratio of -85.80 and a beta of 0.33. Arcellx, Inc. has a fifty-two week low of $47.88 and a fifty-two week high of $107.37. The stock has a fifty day moving average price of $65.01 and a 200 day moving average price of $75.54.

Arcellx (NASDAQ:ACLX - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.63) by ($0.24). Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. The company had revenue of $15.27 million for the quarter, compared to the consensus estimate of $27.42 million. As a group, sell-side analysts forecast that Arcellx, Inc. will post -1.58 EPS for the current year.

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).