Thrivent Financial for Lutherans Purchases 21,221 Shares of Arcellx, Inc. (NASDAQ:ACLX)

Thrivent Financial for Lutherans boosted its holdings in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 44.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 69,461 shares of the company's stock after purchasing an additional 21,221 shares during the quarter. Thrivent Financial for Lutherans owned about 0.13% of Arcellx worth $5,327,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ACLX. KBC Group NV lifted its holdings in shares of Arcellx by 37.3% during the fourth quarter. KBC Group NV now owns 1,388 shares of the company's stock worth $106,000 after buying an additional 377 shares during the last quarter. Swiss National Bank raised its stake in Arcellx by 0.8% during 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. Advisors Asset Management Inc. raised its stake in Arcellx by 13.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 6,196 shares of the company's stock valued at $517,000 after purchasing an additional 720 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in 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 during the period. Finally, Martingale Asset Management L P grew its position in Arcellx by 4.9% in the 3rd quarter. Martingale Asset Management L P now owns 21,184 shares of the company's stock worth $1,769,000 after purchasing an additional 992 shares during the last quarter. Institutional investors and hedge funds own 96.03% of the company's stock.

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Arcellx Stock Performance

Shares of NASDAQ ACLX traded down $0.55 during mid-day trading on Friday, hitting $67.96. 367,030 shares of the stock were exchanged, compared to its average volume of 534,802. The company has a market cap of $3.73 billion, a P/E ratio of -95.72 and a beta of 0.32. Arcellx, Inc. has a twelve month low of $47.88 and a twelve month high of $107.37. The stock's fifty day simple moving average is $66.93 and its two-hundred day simple moving average is $77.70.

Arcellx (NASDAQ:ACLX - Get Free Report) last announced its 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). The business had revenue of $15.27 million during the quarter, compared to analyst estimates of $27.42 million. Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. As a group, equities research analysts predict that Arcellx, Inc. will post -1.58 earnings per share for the current fiscal year.

Insider Transactions at Arcellx

In other Arcellx news, Director Kavita Patel sold 1,500 shares of the business's stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $65.87, for a total transaction of $98,805.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Rami Elghandour sold 38,300 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 149,186 shares in the company, valued at $9,252,515.72. This represents a 20.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,370 shares of company stock worth $4,181,646. Corporate insiders own 6.24% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ACLX shares. Barclays upgraded shares of Arcellx to a "strong-buy" rating in a research note on Friday, November 29th. UBS Group lifted their price objective on Arcellx from $106.00 to $114.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. Needham & Company LLC restated a "buy" rating and set a $105.00 price objective on shares of Arcellx in a research report on Monday, December 9th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $115.00 target price on shares of Arcellx in a research report on Tuesday, December 10th. Thirteen analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $108.46.

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).