Insider Selling: Arcellx, Inc. (NASDAQ:ACLX) Director Sells $107,460.00 in Stock

Arcellx, Inc. (NASDAQ:ACLX) Director Kavita Patel sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $71.64, for a total value of $107,460.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Kavita Patel also recently made the following trade(s):

• On Tuesday, February 25th, Kavita Patel sold 1,500 shares of Arcellx stock. The stock was sold at an average price of $63.16, for a total transaction of $94,740.00.
• On Tuesday, February 4th, Kavita Patel sold 1,500 shares of Arcellx stock. The shares were sold at an average price of $64.57, for a total value of $96,855.00.
• On Tuesday, January 14th, Kavita Patel sold 1,500 shares of Arcellx stock. The shares were sold at an average price of $65.87, for a total transaction of $98,805.00.
• On Tuesday, December 24th, Kavita Patel sold 1,500 shares of Arcellx stock. The stock was sold at an average price of $76.97, for a total transaction of $115,455.00.

Arcellx Trading Up 0.1 %

ACLX stock opened at $71.39 on Friday. The firm has a 50 day moving average of $66.56 and a 200-day moving average of $77.67. The firm has a market capitalization of $3.92 billion, a P/E ratio of -100.55 and a beta of 0.32. Arcellx, Inc. has a 12 month low of $47.88 and a 12 month high of $107.37.

Arcellx (NASDAQ:ACLX) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.87) EPS for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.24). Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. The firm had revenue of $15.27 million for the quarter, compared to analysts’ expectations of $27.42 million. Sell-side analysts predict that Arcellx, Inc. will post -1.58 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ACLX. Needham & Company LLC restated a “buy” rating and set a $105.00 price target on shares of Arcellx in a research note on Monday, December 9th. Barclays upgraded Arcellx to a “strong-buy” rating in a research note on Friday, November 29th. HC Wainwright reiterated a “buy” rating and set a $115.00 price target on shares of Arcellx in a research note on Tuesday, December 10th. Finally, UBS Group boosted their price objective on Arcellx from $106.00 to $114.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Thirteen research 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, Arcellx has an average rating of “Buy” and a consensus target price of $108.46.

Hedge Funds Weigh In On Arcellx

A number of institutional investors have recently added to or reduced their stakes in the business. GF Fund Management CO. LTD. bought a new stake in shares of Arcellx during the 4th quarter valued at about $87,000. Voloridge Investment Management LLC lifted its position in Arcellx by 5.3% during the fourth quarter. Voloridge Investment Management LLC now owns 178,198 shares of the company’s stock valued at $13,666,000 after purchasing an additional 8,936 shares during the last quarter. Woodline Partners LP grew its stake in Arcellx by 13.2% in the 4th quarter. Woodline Partners LP now owns 125,649 shares of the company’s stock worth $9,636,000 after buying an additional 14,660 shares in the last quarter. Soleus Capital Management L.P. grew its stake in Arcellx by 30.1% in the 4th quarter. Soleus Capital Management L.P. now owns 121,031 shares of the company’s stock worth $9,282,000 after buying an additional 28,000 shares in the last quarter. Finally, Two Sigma Advisers LP increased its holdings in shares of Arcellx by 24.4% in the 4th quarter. Two Sigma Advisers LP now owns 5,600 shares of the company’s stock worth $429,000 after buying an additional 1,100 shares during the last quarter. 96.03% of the stock is currently owned by institutional investors.

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).