Arcellx, Inc. (NASDAQ:ACLX) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its stake in Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 19.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 184,183 shares of the company's stock after selling 43,236 shares during the period. Victory Capital Management Inc. owned approximately 0.34% of Arcellx worth $14,125,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ACLX. First Turn Management LLC acquired a new position in Arcellx during the third quarter valued at approximately $17,896,000. Charles Schwab Investment Management Inc. lifted its position in Arcellx by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 328,093 shares of the company's stock valued at $27,399,000 after buying an additional 14,200 shares in the last quarter. Lord Abbett & CO. LLC lifted its position in Arcellx by 2.1% during the third quarter. Lord Abbett & CO. LLC now owns 891,848 shares of the company's stock valued at $74,478,000 after buying an additional 18,004 shares in the last quarter. Intech Investment Management LLC acquired a new position in Arcellx during the third quarter valued at approximately $800,000. Finally, Geode Capital Management LLC lifted its position in Arcellx by 4.3% during the third quarter. Geode Capital Management LLC now owns 974,967 shares of the company's stock valued at $81,434,000 after buying an additional 39,781 shares in the last quarter. 96.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Arcellx

In other Arcellx news, Director Kavita Patel sold 1,500 shares of the business's stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $76.97, for a total transaction of $115,455.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Rami Elghandour sold 38,300 shares of the business's stock in a transaction 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 sale, the insider now owns 149,186 shares of the company's stock, valued at approximately $9,252,515.72. The trade was a 20.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 64,370 shares of company stock worth $4,189,641 over the last 90 days. Insiders own 6.24% of the company's stock.

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Analysts Set New Price Targets

ACLX has been the topic of a number of recent research reports. UBS Group lifted their price target on shares of Arcellx from $106.00 to $114.00 and gave the company a "buy" rating in a research report on Tuesday, December 10th. Needham & Company LLC reiterated a "buy" rating and set a $105.00 price objective on shares of Arcellx in a research note on Monday, December 9th. Barclays upgraded shares of Arcellx to a "strong-buy" rating in a research note on Friday, November 29th. Finally, HC Wainwright reiterated a "buy" rating and set a $115.00 price objective on shares of Arcellx in a research note on Tuesday, December 10th. Thirteen analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $108.46.

Arcellx Price Performance

Shares of NASDAQ:ACLX traded up $0.10 during midday trading on Friday, reaching $71.68. The company had a trading volume of 395,034 shares, compared to its average volume of 516,716. The stock's fifty day moving average price is $66.78 and its 200-day moving average price is $77.65. The stock has a market capitalization of $3.94 billion, a P/E ratio of -100.96 and a beta of 0.32. Arcellx, Inc. has a one year low of $47.88 and a one year high of $107.37.

Arcellx (NASDAQ:ACLX - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.87) earnings per share (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 the consensus estimate of $27.42 million. Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. As a group, sell-side analysts forecast that Arcellx, Inc. will post -1.58 earnings per share for the current year.

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).