Vanguard Group Inc. Raises Position in Arcellx, Inc. (NASDAQ:ACLX)

Vanguard Group Inc. boosted its holdings in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 35.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,330,092 shares of the company's stock after acquiring an additional 867,996 shares during the quarter. Vanguard Group Inc. owned 6.16% of Arcellx worth $255,385,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. KBC Group NV increased its position in Arcellx by 37.3% during the 4th quarter. KBC Group NV now owns 1,388 shares of the company's stock valued at $106,000 after purchasing an additional 377 shares during the period. Quarry LP bought a new position in Arcellx during the third quarter worth $125,000. Avanza Fonder AB acquired a new position in Arcellx in the fourth quarter valued at $184,000. Kazazian Asset Management LLC acquired a new stake in Arcellx during the 4th quarter worth about $204,000. Finally, Xponance Inc. lifted its stake in shares of Arcellx by 8.6% in the 4th quarter. Xponance Inc. now owns 3,088 shares of the company's stock valued at $237,000 after purchasing an additional 244 shares during the period. 96.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ACLX shares. UBS Group increased 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. HC Wainwright restated a "buy" rating and issued a $115.00 price target on shares of Arcellx in a report on Tuesday, December 10th. Twelve equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $110.67.

Arcellx Trading Up 10.4 %

NASDAQ ACLX traded up $5.56 during trading hours on Wednesday, hitting $59.16. The company's stock had a trading volume of 1,355,780 shares, compared to its average volume of 553,724. Arcellx, Inc. has a 52 week low of $47.88 and a 52 week high of $107.37. The company's 50-day simple moving average is $65.77 and its two-hundred day simple moving average is $76.33. The company has a market capitalization of $3.25 billion, a PE ratio of -83.32 and a beta of 0.33.

Arcellx (NASDAQ:ACLX - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.87) EPS for the quarter, missing analysts' consensus estimates of ($0.63) by ($0.24). The company had revenue of $15.27 million during the quarter, compared to analysts' expectations of $27.42 million. Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. Research analysts anticipate that Arcellx, Inc. will post -1.58 EPS for the current fiscal year.

Insider Activity at Arcellx

In other news, insider Rami Elghandour sold 38,300 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $62.02, for a total value of $2,375,366.00. Following the completion of the transaction, the insider now directly owns 149,186 shares of the company's stock, valued at $9,252,515.72. This represents a 20.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kavita Patel sold 1,500 shares of Arcellx stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $57.50, for a total value of $86,250.00. The disclosure for this sale can be found here. Insiders have sold 55,955 shares of company stock valued at $3,507,263 over the last ninety days. Corporate 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).