Arcellx, Inc. (NASDAQ:ACLX) is Acuta Capital Partners LLC’s 7th Largest Position

Acuta Capital Partners LLC raised its stake in Arcellx, Inc. (NASDAQ:ACLX) by 47.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 62,100 shares of the company’s stock after acquiring an additional 19,900 shares during the quarter. Arcellx accounts for about 4.2% of Acuta Capital Partners LLC’s portfolio, making the stock its 7th largest position. Acuta Capital Partners LLC’s holdings in Arcellx were worth $5,186,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of ACLX. Quest Partners LLC purchased a new stake in shares of Arcellx during the 2nd quarter valued at about $27,000. Plato Investment Management Ltd purchased a new stake in shares of Arcellx during the first quarter valued at approximately $51,000. Decheng Capital LLC acquired a new position in shares of Arcellx during the second quarter worth $65,000. National Bank of Canada FI boosted its stake 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. Finally, Covestor Ltd grew its holdings in Arcellx by 53,766.7% during the 3rd quarter. Covestor Ltd now owns 1,616 shares of the company’s stock valued at $135,000 after purchasing an additional 1,613 shares in the last quarter. Institutional investors and hedge funds own 96.03% of the company’s stock.

Insider Transactions at Arcellx

In other Arcellx news, insider Christopher Heery sold 3,421 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $70.02, for a total value of $239,538.42. Following the sale, the insider now directly owns 9,278 shares of the company’s stock, valued at $649,645.56. This trade represents a 26.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kavita Patel sold 33,763 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $104.14, for a total value of $3,516,078.82. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 97,873 shares of company stock worth $8,621,767. 6.24% of the stock is currently owned by company insiders.

Arcellx Stock Performance

Shares of NASDAQ:ACLX opened at $89.07 on Thursday. The company’s fifty day moving average is $87.97 and its two-hundred day moving average is $69.69. Arcellx, Inc. has a 1-year low of $46.42 and a 1-year high of $107.37. The stock has a market capitalization of $4.82 billion, a price-to-earnings ratio of -125.45 and a beta of 0.27.

Arcellx (NASDAQ:ACLX) last released 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. Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. The firm had revenue of $26.03 million for the quarter, compared to analyst estimates of $35.21 million. Sell-side analysts expect that Arcellx, Inc. will post -1.49 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on ACLX. Robert W. Baird upped their price objective on shares of Arcellx from $77.00 to $106.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Morgan Stanley increased their price target on Arcellx from $81.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Redburn Atlantic initiated coverage on Arcellx in a research note on Tuesday, October 8th. They set a “buy” rating and a $109.00 price objective for the company. Bank of America upped their target price on Arcellx from $84.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, Needham & Company LLC reissued a “buy” rating and set a $96.00 price target on shares of Arcellx in a research report on Wednesday, November 6th. Thirteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $103.08.

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).