Parkman Healthcare Partners LLC Sells 90,351 Shares of Arcellx, Inc. (NASDAQ:ACLX)

Parkman Healthcare Partners LLC decreased its position in Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 57.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 66,492 shares of the company's stock after selling 90,351 shares during the period. Parkman Healthcare Partners LLC owned about 0.12% of Arcellx worth $5,553,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Jacobs Levy Equity Management Inc. grew its stake in shares of Arcellx by 67.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 79,936 shares of the company's stock worth $6,675,000 after purchasing an additional 32,119 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of Arcellx by 5.7% in the 3rd quarter. Janus Henderson Group PLC now owns 2,011,950 shares of the company's stock worth $168,026,000 after buying an additional 109,332 shares during the last quarter. HighVista Strategies LLC grew its position in shares of Arcellx by 8.0% in the 3rd quarter. HighVista Strategies LLC now owns 55,139 shares of the company's stock worth $4,605,000 after buying an additional 4,099 shares during the last quarter. Erste Asset Management GmbH bought a new stake in shares of Arcellx in the 3rd quarter worth approximately $1,738,000. Finally, Bellevue Group AG bought a new stake in Arcellx in the third quarter valued at $334,000. Institutional investors own 96.03% of the company's stock.

Insiders Place Their Bets

In other news, CFO Michelle Gilson sold 15,000 shares of the company's stock in a transaction dated 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 directly owns 6,915 shares in the company, valued at approximately $537,502.95. This represents a 68.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kavita Patel sold 1,500 shares of the company's stock in a transaction dated 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. Insiders have sold 70,422 shares of company stock valued at $6,781,726 over the last ninety days. 6.24% of the stock is owned by insiders.

Arcellx Stock Down 3.2 %

ACLX traded down $2.80 during trading on Wednesday, hitting $85.85. The company's stock had a trading volume of 340,543 shares, compared to its average volume of 477,860. Arcellx, Inc. has a one year low of $46.42 and a one year high of $107.37. The firm has a market cap of $4.64 billion, a PE ratio of -124.86 and a beta of 0.25. The business's 50 day simple moving average is $88.35 and its 200-day simple moving average is $70.91.

Arcellx (NASDAQ:ACLX - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $0.06. The company had revenue of $26.03 million for the quarter, compared to the consensus estimate of $35.21 million. Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. Equities research analysts expect that Arcellx, Inc. will post -1.49 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ACLX has been the topic of a number of research reports. Truist Financial lifted their target price on shares of Arcellx from $87.00 to $136.00 and gave the company a "buy" rating in a research note on Tuesday, November 12th. Piper Sandler lifted their price objective on Arcellx from $91.00 to $115.00 and gave the company an "overweight" rating in a research report on Friday, November 8th. HC Wainwright lifted their price objective on Arcellx from $80.00 to $95.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. Robert W. Baird lifted their price target on Arcellx from $77.00 to $106.00 and gave the company an "outperform" rating in a research report on Wednesday, November 6th. Finally, Redburn Atlantic began coverage on Arcellx in a research report on Tuesday, October 8th. They set a "buy" rating and a $109.00 price target on the stock. Thirteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $103.08.

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).