Arcellx, Inc. (NASDAQ:ACLX) Shares Sold by State Street Corp

State Street Corp lowered its stake in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 12.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,544,939 shares of the company's stock after selling 210,725 shares during the period. State Street Corp owned 2.86% of Arcellx worth $129,018,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ACLX. RA Capital Management L.P. increased its stake in shares of Arcellx by 15.4% in the 3rd quarter. RA Capital Management L.P. now owns 1,851,479 shares of the company's stock worth $154,617,000 after purchasing an additional 247,465 shares in the last quarter. First Turn Management LLC acquired a new position in shares of Arcellx during the third quarter valued at about $17,896,000. Great Point Partners LLC lifted its holdings in shares of Arcellx by 64.0% during the second quarter. Great Point Partners LLC now owns 492,000 shares of the company's stock worth $27,153,000 after purchasing an additional 192,000 shares during the period. Affinity Asset Advisors LLC raised its stake in shares of Arcellx by 53.3% during the 2nd quarter. Affinity Asset Advisors LLC now owns 460,000 shares of the company's stock valued at $25,387,000 after buying an additional 160,000 shares during the last quarter. Finally, Janus Henderson Group PLC grew its position in Arcellx by 5.7% during the third quarter. Janus Henderson Group PLC now owns 2,011,950 shares of the company's stock valued at $168,026,000 after buying an additional 109,332 shares during the period. Hedge funds and other institutional investors own 96.03% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on ACLX. Bank of America lifted their price objective on Arcellx from $84.00 to $100.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. Truist Financial upped their price objective on Arcellx from $87.00 to $136.00 and gave the stock a "buy" rating in a research report on Tuesday, November 12th. Needham & Company LLC reiterated a "buy" rating and set a $105.00 price target on shares of Arcellx in a research note on Monday, December 9th. Piper Sandler upped their price objective on shares of Arcellx from $91.00 to $115.00 and gave the stock an "overweight" rating in a research report on Friday, November 8th. Finally, Barclays upgraded shares of Arcellx to a "strong-buy" rating in a research report on Friday, November 29th. Thirteen equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Arcellx presently has an average rating of "Buy" and a consensus price target of $105.93.

Insider Transactions at Arcellx

In other news, CFO Michelle Gilson sold 15,000 shares of Arcellx stock in a transaction dated 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 transaction, the chief financial officer now directly owns 6,915 shares of the company's stock, valued at $537,502.95. The trade was a 68.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Kavita Patel sold 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $89.69, for a total transaction of $134,535.00. The disclosure for this sale can be found here. Insiders have sold a total of 67,001 shares of company stock worth $6,568,393 in the last three months. Company insiders own 6.24% of the company's stock.

Arcellx Stock Performance

ACLX stock traded up $0.38 during trading on Friday, hitting $83.80. The stock had a trading volume of 411,147 shares, compared to its average volume of 480,544. Arcellx, Inc. has a 1-year low of $47.88 and a 1-year high of $107.37. The stock has a market cap of $4.53 billion, a price-to-earnings ratio of -118.03 and a beta of 0.25. The company's 50 day moving average price is $88.93 and its two-hundred day moving average price is $72.72.

Arcellx (NASDAQ:ACLX - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.54) by $0.06. The firm had revenue of $26.03 million for the quarter, compared to analyst estimates of $35.21 million. Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. As a group, sell-side analysts forecast that Arcellx, Inc. will post -1.49 earnings per share for the current fiscal year.

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).