Arcellx, Inc. (NASDAQ:ACLX) Position Reduced by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its position in Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 19.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 227,419 shares of the company's stock after selling 56,453 shares during the period. Victory Capital Management Inc. owned approximately 0.42% of Arcellx worth $18,992,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ACLX. Vanguard Group Inc. increased its holdings in shares of Arcellx by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 2,228,856 shares of the company's stock valued at $155,017,000 after purchasing an additional 167,037 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Arcellx by 6.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,344,553 shares of the company's stock worth $93,514,000 after acquiring an additional 84,373 shares in the last quarter. Great Point Partners LLC grew its holdings in shares of Arcellx by 64.0% in the 2nd quarter. Great Point Partners LLC now owns 492,000 shares of the company's stock worth $27,153,000 after acquiring an additional 192,000 shares during the period. Affinity Asset Advisors LLC increased its stake in Arcellx by 53.3% in the 2nd quarter. Affinity Asset Advisors LLC now owns 460,000 shares of the company's stock valued at $25,387,000 after purchasing an additional 160,000 shares in the last quarter. Finally, Integral Health Asset Management LLC raised its holdings in Arcellx by 7.8% during the second quarter. Integral Health Asset Management LLC now owns 275,000 shares of the company's stock worth $15,177,000 after purchasing an additional 20,000 shares during the last quarter. Hedge funds and other institutional investors own 96.03% of the company's stock.

Arcellx Stock Down 0.7 %

Shares of NASDAQ ACLX traded down $0.63 during trading on Tuesday, hitting $87.59. 498,216 shares of the company traded hands, compared to its average volume of 481,967. The firm has a market capitalization of $4.74 billion, a P/E ratio of -123.36 and a beta of 0.27. The company has a 50-day moving average price of $86.52 and a 200-day moving average price of $68.25. Arcellx, Inc. has a 1 year low of $46.42 and a 1 year high of $107.37.

Arcellx (NASDAQ:ACLX - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.48) EPS for the quarter, topping analysts' consensus estimates of ($0.54) by $0.06. Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. The company had revenue of $26.03 million for the quarter, compared to the consensus estimate of $35.21 million. Research analysts predict that Arcellx, Inc. will post -1.49 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Christopher Heery sold 21,684 shares of the firm's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $71.12, for a total transaction of $1,542,166.08. Following the completion of the sale, the insider now directly owns 9,278 shares of the company's stock, valued at approximately $659,851.36. This trade represents a 70.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kavita Patel sold 33,763 shares of Arcellx stock in a transaction on Friday, November 8th. The stock was sold at an average price of $104.14, for a total transaction of $3,516,078.82. The disclosure for this sale can be found here. Insiders sold a total of 119,557 shares of company stock worth $10,163,933 over the last ninety days. 6.24% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Piper Sandler lifted their price target on Arcellx from $91.00 to $115.00 and gave the stock an "overweight" rating in a research note on Friday, November 8th. Canaccord Genuity Group upped their price target on shares of Arcellx from $85.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, October 17th. Needham & Company LLC reissued a "buy" rating and set a $96.00 price objective on shares of Arcellx in a research note on Wednesday, November 6th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Arcellx in a research note on Monday, September 9th. Finally, Stifel Nicolaus raised their price target on Arcellx from $83.00 to $122.00 and gave the stock a "buy" rating in a research report on Friday, October 18th. Thirteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $103.08.

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).