E Fund Management Co. Ltd. Increases Stake in Arcellx, Inc. (NASDAQ:ACLX)

E Fund Management Co. Ltd. increased its stake in Arcellx, Inc. (NASDAQ:ACLX) by 41.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,049 shares of the company’s stock after buying an additional 1,467 shares during the period. E Fund Management Co. Ltd.’s holdings in Arcellx were worth $387,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. KBC Group NV raised its position in shares of Arcellx by 37.3% in the 4th quarter. KBC Group NV now owns 1,388 shares of the company’s stock worth $106,000 after acquiring an additional 377 shares in the last quarter. Quarry LP purchased a new stake in Arcellx in the third quarter worth $125,000. Quest Partners LLC raised its holdings in Arcellx by 210.1% in the third quarter. Quest Partners LLC now owns 1,532 shares of the company’s stock worth $128,000 after purchasing an additional 1,038 shares in the last quarter. 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 valued at $135,000 after buying an additional 1,613 shares during the period. Finally, Avanza Fonder AB bought a new stake in shares of Arcellx during the 4th quarter valued at $184,000. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on ACLX shares. HC Wainwright reiterated a “buy” rating and issued a $115.00 price target on shares of Arcellx in a research note on Tuesday, December 10th. UBS Group raised their target price on shares of Arcellx from $106.00 to $114.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Truist Financial boosted their price target on Arcellx from $87.00 to $136.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Barclays raised Arcellx to a “strong-buy” rating in a research report on Friday, November 29th. Finally, Needham & Company LLC restated a “buy” rating and set a $105.00 price target on shares of Arcellx in a report on Monday, December 9th. Thirteen equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $108.46.

Arcellx Stock Up 3.1 %

Shares of NASDAQ ACLX opened at $70.74 on Friday. The firm’s 50-day moving average price is $67.45 and its 200-day moving average price is $77.50. Arcellx, Inc. has a 52-week low of $47.88 and a 52-week high of $107.37. The company has a market cap of $3.89 billion, a PE ratio of -99.63 and a beta of 0.32.

Arcellx (NASDAQ:ACLX) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.87) earnings per share 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 company had revenue of $15.27 million for the quarter, compared to the consensus estimate of $27.42 million. As a group, equities research analysts anticipate that Arcellx, Inc. will post -1.58 EPS for the current fiscal year.

Insider Transactions at Arcellx

In related news, insider Rami Elghandour sold 38,300 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $62.02, for a total value of $2,375,366.00. Following the transaction, the insider now owns 149,186 shares of the company’s stock, valued at approximately $9,252,515.72. This trade represents a 20.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kavita Patel sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $76.97, for a total transaction of $115,455.00. The disclosure for this sale can be found here. Insiders have sold a total of 64,370 shares of company stock worth $4,189,641 in the last ninety days. Insiders own 6.24% of the company’s stock.

About Arcellx

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).