Y Intercept Hong Kong Ltd Sells 11,955 Shares of Arcellx, Inc. (NASDAQ:ACLX)

Y Intercept Hong Kong Ltd lessened its stake in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 75.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,904 shares of the company's stock after selling 11,955 shares during the period. Y Intercept Hong Kong Ltd's holdings in Arcellx were worth $326,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quest Partners LLC bought a new stake in Arcellx in the second quarter valued at approximately $27,000. Decheng Capital LLC acquired a new position in shares of Arcellx in the second quarter valued at $65,000. National Bank of Canada FI raised its position in shares of Arcellx by 50.0% in the second quarter. National Bank of Canada FI now owns 1,500 shares of the company's stock valued at $80,000 after purchasing an additional 500 shares during the period. Quarry LP bought a new position in Arcellx in the 3rd quarter valued at about $125,000. Finally, Covestor Ltd lifted its position in Arcellx by 53,766.7% during the third quarter. Covestor Ltd now owns 1,616 shares of the company's stock worth $135,000 after acquiring an additional 1,613 shares during the last quarter. Institutional investors own 96.03% of the company's stock.

Arcellx Stock Performance

NASDAQ ACLX opened at $82.03 on Wednesday. The firm's fifty day moving average price is $89.08 and its two-hundred day moving average price is $72.94. The stock has a market cap of $4.44 billion, a PE ratio of -115.53 and a beta of 0.25. Arcellx, Inc. has a fifty-two week low of $47.88 and a fifty-two week 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) earnings per share for the quarter, beating the consensus estimate of ($0.54) by $0.06. The company had revenue of $26.03 million for the quarter, compared to the consensus estimate of $35.21 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 predict that Arcellx, Inc. will post -1.49 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Arcellx news, Director Kavita Patel sold 1,500 shares of the company's stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $91.88, for a total value of $137,820.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 52,001 shares of company stock worth $5,402,443 in the last ninety days. Company insiders own 6.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ACLX shares. Piper Sandler boosted their price target on Arcellx from $91.00 to $115.00 and gave the company an "overweight" rating in a research note on Friday, November 8th. UBS Group raised their target price on shares of Arcellx from $106.00 to $114.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. Canaccord Genuity Group lifted their price objective on Arcellx from $85.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, October 17th. Morgan Stanley boosted their price target on Arcellx from $81.00 to $106.00 and gave the company an "overweight" rating in a research note on Wednesday, November 6th. Finally, Bank of America increased their price objective on shares of Arcellx from $84.00 to $100.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. Thirteen equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Arcellx presently has a consensus rating of "Buy" and an average price target of $105.93.

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).