Russell Investments Group Ltd. Decreases Stake in Arcellx, Inc. (NASDAQ:ACLX)

Russell Investments Group Ltd. cut its holdings in Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 16.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 269,386 shares of the company's stock after selling 51,284 shares during the quarter. Russell Investments Group Ltd. owned 0.50% of Arcellx worth $20,659,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Arcellx by 9.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,836 shares of the company's stock valued at $754,000 after purchasing an additional 858 shares in the last quarter. Lord Abbett & CO. LLC increased its position in shares of 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 buying an additional 18,004 shares in the last quarter. Geode Capital Management LLC lifted its stake in Arcellx by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 974,967 shares of the company's stock valued at $81,434,000 after buying an additional 39,781 shares in the last quarter. Swiss National Bank raised its stake in Arcellx by 0.8% in the 4th quarter. Swiss National Bank now owns 63,400 shares of the company's stock valued at $4,862,000 after purchasing an additional 500 shares during the last quarter. Finally, Avanza Fonder AB purchased a new position in Arcellx in the 4th quarter valued at about $184,000. Hedge funds and other institutional investors own 96.03% of the company's stock.

Arcellx Stock Up 0.8 %

Shares of NASDAQ:ACLX traded up $0.49 during trading on Tuesday, reaching $60.79. The stock had a trading volume of 167,191 shares, compared to its average volume of 555,599. The stock has a market cap of $3.34 billion, a P/E ratio of -85.53 and a beta of 0.33. The business has a fifty day moving average price of $65.27 and a 200-day moving average price of $75.74. Arcellx, Inc. has a fifty-two week low of $47.88 and a fifty-two week high of $107.37.

Arcellx (NASDAQ:ACLX - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing the consensus estimate 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. As a group, equities analysts forecast that Arcellx, Inc. will post -1.58 EPS for the current year.

Insider Transactions at Arcellx

In other news, Director Kavita Patel sold 1,500 shares of the business's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $64.57, for a total transaction of $96,855.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher Heery sold 10,155 shares of Arcellx stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $63.79, for a total transaction of $647,787.45. Following the transaction, the insider now directly owns 37,486 shares in the company, valued at approximately $2,391,231.94. This trade represents a 21.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 54,455 shares of company stock worth $3,408,458 in the last three months. 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).