Arcellx, Inc. (NASDAQ:ACLX) Holdings Boosted by HighVista Strategies LLC

HighVista Strategies LLC increased its position in Arcellx, Inc. (NASDAQ:ACLX) by 8.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 55,139 shares of the company’s stock after purchasing an additional 4,099 shares during the period. Arcellx accounts for about 1.6% of HighVista Strategies LLC’s holdings, making the stock its 4th biggest holding. HighVista Strategies LLC’s holdings in Arcellx were worth $4,605,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ACLX. Harbor Capital Advisors Inc. raised its position in Arcellx by 8.3% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 20,362 shares of the company’s stock valued at $1,124,000 after purchasing an additional 1,568 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Arcellx by 21.6% in the second quarter. Bank of New York Mellon Corp now owns 147,198 shares of the company’s stock valued at $8,124,000 after buying an additional 26,134 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Arcellx by 37.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 15,928 shares of the company’s stock worth $879,000 after buying an additional 4,372 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Arcellx by 34.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,811 shares of the company’s stock worth $376,000 after buying an additional 1,740 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in Arcellx by 1.4% in the 2nd quarter. Principal Financial Group Inc. now owns 37,352 shares of the company’s stock valued at $2,061,000 after acquiring an additional 517 shares during the period. 96.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Christopher Heery sold 3,421 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were 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 in the company, valued at $649,645.56. The trade was a 26.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michelle Gilson sold 15,000 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $77.73, for a total transaction of $1,165,950.00. Following the completion of the sale, the chief financial officer now directly owns 6,915 shares in the company, valued at approximately $537,502.95. The trade was a 68.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,422 shares of company stock valued at $6,781,726. 6.24% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ACLX shares. Needham & Company LLC reiterated a “buy” rating and issued a $96.00 target price on shares of Arcellx in a research note on Wednesday, November 6th. Robert W. Baird lifted 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. Stifel Nicolaus upped their price objective on shares of Arcellx from $83.00 to $122.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcellx in a report on Monday, September 9th. Finally, Piper Sandler increased their price target on shares of Arcellx from $91.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Thirteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Arcellx has an average rating of “Buy” and an average price target of $103.08.

Arcellx Stock Up 8.7 %

Shares of NASDAQ ACLX opened at $95.72 on Tuesday. The firm has a 50-day moving average price of $88.27 and a 200 day moving average price of $70.66. Arcellx, Inc. has a 52 week low of $46.42 and a 52 week high of $107.37. The stock has a market capitalization of $5.18 billion, a price-to-earnings ratio of -134.82 and a beta of 0.27.

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