Raymond James Financial Inc. Takes Position in Arcellx, Inc. (NASDAQ:ACLX)

Raymond James Financial Inc. acquired a new position in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 130,601 shares of the company's stock, valued at approximately $10,016,000. Raymond James Financial Inc. owned approximately 0.24% of Arcellx as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of ACLX. KBC Group NV raised its holdings in shares of Arcellx by 37.3% during the 4th quarter. KBC Group NV now owns 1,388 shares of the company's stock worth $106,000 after buying an additional 377 shares in the last quarter. Quarry LP acquired a new position in Arcellx during the third quarter worth about $125,000. Quest Partners LLC lifted its holdings in shares of Arcellx by 210.1% in the third quarter. Quest Partners LLC now owns 1,532 shares of the company's stock worth $128,000 after acquiring an additional 1,038 shares during the last quarter. Avanza Fonder AB acquired a new stake in shares of Arcellx in the 4th quarter valued at approximately $184,000. Finally, Glenmede Trust Co. NA bought a new stake in shares of Arcellx during the 3rd quarter valued at approximately $302,000. 96.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ACLX. Needham & Company LLC reissued a "buy" rating and issued a $105.00 price objective on shares of Arcellx in a research note on Monday, December 9th. Barclays upgraded Arcellx to a "strong-buy" rating in a research report on Friday, November 29th. HC Wainwright reiterated a "buy" rating and issued a $115.00 target price on shares of Arcellx in a research report on Tuesday, December 10th. Finally, UBS Group boosted their price target on Arcellx from $106.00 to $114.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. Thirteen equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $108.46.

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Arcellx Stock Performance

Shares of NASDAQ:ACLX traded down $0.32 during trading on Tuesday, reaching $72.16. The stock had a trading volume of 509,034 shares, compared to its average volume of 520,094. Arcellx, Inc. has a 52 week low of $47.88 and a 52 week high of $107.37. The firm's fifty day moving average is $66.67 and its 200 day moving average is $77.85. The stock has a market cap of $3.96 billion, a price-to-earnings ratio of -101.63 and a beta of 0.32.

Arcellx (NASDAQ:ACLX - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.87) earnings per share 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 business had revenue of $15.27 million for the quarter, compared to analyst estimates of $27.42 million. On average, research analysts forecast that Arcellx, Inc. will post -1.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Kavita Patel sold 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $71.64, for a total transaction of $107,460.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rami Elghandour sold 38,300 shares of Arcellx stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $62.02, for a total transaction of $2,375,366.00. Following the completion of the sale, the insider now owns 149,186 shares of the company's stock, valued at $9,252,515.72. This represents a 20.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 64,370 shares of company stock valued at $4,181,646 over the last 90 days. Company insiders own 6.24% of the company's stock.

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).