Arcellx, Inc. (NASDAQ:ACLX) Position Boosted by Wells Fargo & Company MN

Wells Fargo & Company MN grew its position in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 35.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,638 shares of the company's stock after acquiring an additional 7,002 shares during the quarter. Wells Fargo & Company MN's holdings in Arcellx were worth $2,043,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Arcellx by 35.3% in the fourth quarter. Vanguard Group Inc. now owns 3,330,092 shares of the company's stock valued at $255,385,000 after buying an additional 867,996 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Arcellx in the fourth quarter worth $10,016,000. American Century Companies Inc. purchased a new position in shares of Arcellx in the 4th quarter valued at $2,258,000. Bank of New York Mellon Corp lifted its holdings in shares of Arcellx by 23.4% during the 4th quarter. Bank of New York Mellon Corp now owns 144,409 shares of the company's stock valued at $11,075,000 after acquiring an additional 27,350 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Arcellx during the 4th quarter valued at $2,090,000. 96.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Rami Elghandour sold 38,300 shares of the firm'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 completion of the sale, the insider now directly owns 149,186 shares of the company's stock, valued at approximately $9,252,515.72. This trade represents a 20.43 % 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 1,500 shares of the business's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $64.57, for a total transaction of $96,855.00. The disclosure for this sale can be found here. Insiders have sold 54,455 shares of company stock worth $3,408,458 over the last 90 days. Company insiders own 6.24% of the company's stock.

Arcellx Price Performance

NASDAQ ACLX traded up $0.16 during trading hours on Tuesday, hitting $64.71. The company had a trading volume of 359,588 shares, compared to its average volume of 554,640. The firm's 50 day moving average is $64.76 and its 200 day moving average is $74.65. Arcellx, Inc. has a fifty-two week low of $47.88 and a fifty-two week high of $107.37. The company has a market capitalization of $3.56 billion, a price-to-earnings ratio of -91.14 and a beta of 0.33.

Arcellx (NASDAQ:ACLX - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported ($0.87) EPS for the quarter, missing the consensus estimate of ($0.63) by ($0.24). The company had revenue of $15.27 million for 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%. On average, equities analysts anticipate that Arcellx, Inc. will post -1.58 EPS 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).