Samsara BioCapital LLC cut its stake in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 22.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 353,641 shares of the company's stock after selling 100,000 shares during the period. Arcellx makes up 5.7% of Samsara BioCapital LLC's holdings, making the stock its 6th biggest holding. Samsara BioCapital LLC owned approximately 0.65% of Arcellx worth $29,533,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Quest Partners LLC purchased a new stake in shares of Arcellx during the 2nd quarter worth approximately $27,000. Decheng Capital LLC acquired a new stake in shares of Arcellx during the 2nd quarter valued at approximately $65,000. National Bank of Canada FI raised its position in Arcellx by 50.0% during the second quarter. National Bank of Canada FI now owns 1,500 shares of the company's stock worth $80,000 after acquiring an additional 500 shares during the last quarter. Quarry LP acquired a new position in shares of Arcellx in the third quarter worth $125,000. Finally, Covestor Ltd lifted its stake in shares of Arcellx by 53,766.7% during the third quarter. Covestor Ltd now owns 1,616 shares of the company's stock valued at $135,000 after buying an additional 1,613 shares during the period. Hedge funds and other institutional investors own 96.03% of the company's stock.
Analyst Upgrades and Downgrades
ACLX has been the topic of a number of research reports. Canaccord Genuity Group raised their price objective on Arcellx from $85.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, October 17th. Bank of America boosted their target price on shares of Arcellx from $84.00 to $100.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. Morgan Stanley boosted their price objective on Arcellx from $81.00 to $106.00 and gave the company an "overweight" rating in a research report on Wednesday, November 6th. Needham & Company LLC restated a "buy" rating and issued a $96.00 price target on shares of Arcellx in a research note on Wednesday, November 6th. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Arcellx in a research report on Monday, September 9th. Twelve equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Arcellx presently has an average rating of "Buy" and a consensus price target of $103.08.
Check Out Our Latest Stock Analysis on Arcellx
Arcellx Price Performance
NASDAQ ACLX traded up $0.11 during mid-day trading on Thursday, reaching $85.96. 272,699 shares of the stock were exchanged, compared to its average volume of 476,931. The stock has a 50 day simple moving average of $88.38 and a 200-day simple moving average of $71.01. Arcellx, Inc. has a one year low of $46.42 and a one year high of $107.37.
Arcellx (NASDAQ:ACLX - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.54) by $0.06. The business had revenue of $26.03 million during 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%. On average, sell-side analysts forecast that Arcellx, Inc. will post -1.49 EPS for the current year.
Insiders Place Their Bets
In related news, Director Kavita Patel sold 1,500 shares of Arcellx stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $74.41, for a total value of $111,615.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Michelle Gilson sold 15,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $77.73, for a total value of $1,165,950.00. Following the completion of the transaction, the chief financial officer now directly owns 6,915 shares of the company's stock, valued at $537,502.95. This represents a 68.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,001 shares of company stock worth $6,542,188 over the last quarter. 6.24% of the stock is currently owned by company insiders.
Arcellx Profile
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Free Report)
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).
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