HealthInvest Partners AB Buys 17,734 Shares of Arcellx, Inc. (NASDAQ:ACLX)

HealthInvest Partners AB boosted its stake in Arcellx, Inc. (NASDAQ:ACLX) by 78.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 40,230 shares of the company’s stock after buying an additional 17,734 shares during the quarter. Arcellx makes up 1.6% of HealthInvest Partners AB’s investment portfolio, making the stock its 19th largest holding. HealthInvest Partners AB’s holdings in Arcellx were worth $3,360,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of ACLX. Quest Partners LLC purchased a new stake in shares of Arcellx in the second quarter valued at about $27,000. Plato Investment Management Ltd purchased a new stake in shares of Arcellx during the 1st quarter valued at $51,000. Decheng Capital LLC bought a new stake in shares of Arcellx during the 2nd quarter worth $65,000. National Bank of Canada FI boosted its holdings in shares of Arcellx by 50.0% in the 2nd quarter. National Bank of Canada FI now owns 1,500 shares of the company’s stock worth $80,000 after buying an additional 500 shares during the last quarter. Finally, Covestor Ltd grew its position in Arcellx by 53,766.7% during the third quarter. Covestor Ltd now owns 1,616 shares of the company’s stock valued at $135,000 after buying an additional 1,613 shares during the period. 96.03% of the stock is currently owned by institutional investors.

Arcellx Trading Up 0.8 %

Shares of ACLX stock traded up $0.72 on Thursday, reaching $87.94. The company’s stock had a trading volume of 6,373 shares, compared to its average volume of 479,257. Arcellx, Inc. has a 12-month low of $46.42 and a 12-month high of $107.37. The stock’s 50 day simple moving average is $86.52 and its 200-day simple moving average is $68.25.

Arcellx (NASDAQ:ACLX) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.48) earnings per share for the quarter, topping the consensus estimate of ($0.54) by $0.06. The company had revenue of $26.03 million for the quarter, compared to analysts’ expectations of $35.21 million. Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. On average, equities research analysts anticipate that Arcellx, Inc. will post -1.49 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ACLX has been the topic of a number of research analyst reports. Piper Sandler boosted their target price on shares of Arcellx from $91.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Stifel Nicolaus upped their price objective on Arcellx from $83.00 to $122.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Bank of America boosted their target price on Arcellx from $84.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. HC Wainwright lifted their price objective on Arcellx from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, Morgan Stanley upped their price objective on shares of Arcellx from $81.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Thirteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $103.08.

Insider Transactions at Arcellx

In other Arcellx news, Director Kavita Patel sold 33,763 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $104.14, for a total value of $3,516,078.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher Heery sold 21,684 shares of the company’s stock in a transaction dated 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 119,557 shares of company stock valued at $10,163,933 in the last quarter. 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).