Arcellx, Inc. (NASDAQ:ACLX) Insider Christopher Heery Sells 3,301 Shares

Arcellx, Inc. (NASDAQ:ACLX) insider Christopher Heery sold 3,301 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $79.55, for a total value of $262,594.55. Following the completion of the transaction, the insider now owns 35,517 shares in the company, valued at approximately $2,825,377.35. This trade represents a 8.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Christopher Heery also recently made the following trade(s):

• On Monday, January 6th, Christopher Heery sold 3,061 shares of Arcellx stock. The stock was sold at an average price of $77.17, for a total value of $236,217.37.

Arcellx Price Performance

ACLX opened at $75.01 on Tuesday. Arcellx, Inc. has a 12-month low of $47.88 and a 12-month high of $107.37. The stock has a market capitalization of $4.06 billion, a PE ratio of -105.65 and a beta of 0.33. The firm’s fifty day moving average price is $85.95 and its 200 day moving average price is $75.49.

Arcellx (NASDAQ:ACLX) last issued its 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 business had revenue of $26.03 million for the quarter, compared to analyst estimates 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 forecast that Arcellx, Inc. will post -1.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ACLX. HC Wainwright reaffirmed a “buy” rating and set a $115.00 price target on shares of Arcellx in a research report on Tuesday, December 10th. UBS Group upped their price target on shares of Arcellx from $106.00 to $114.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Bank of America raised their price objective on Arcellx from $84.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Piper Sandler upped their target price on Arcellx from $91.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, Morgan Stanley raised their target price on Arcellx from $81.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Thirteen analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $105.93.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. RA Capital Management L.P. raised its position in shares of Arcellx by 15.4% during the 3rd quarter. RA Capital Management L.P. now owns 1,851,479 shares of the company’s stock valued at $154,617,000 after acquiring an additional 247,465 shares in the last quarter. First Turn Management LLC acquired a new stake in shares of Arcellx during the third quarter worth $17,896,000. Great Point Partners LLC lifted its position in shares of Arcellx by 64.0% in the 2nd quarter. Great Point Partners LLC now owns 492,000 shares of the company’s stock worth $27,153,000 after buying an additional 192,000 shares during the last quarter. Affinity Asset Advisors LLC boosted its holdings in shares of Arcellx by 53.3% in the 2nd quarter. Affinity Asset Advisors LLC now owns 460,000 shares of the company’s stock valued at $25,387,000 after buying an additional 160,000 shares during the period. Finally, Janus Henderson Group PLC grew its position in shares of Arcellx by 5.7% during the 3rd quarter. Janus Henderson Group PLC now owns 2,011,950 shares of the company’s stock valued at $168,026,000 after buying an additional 109,332 shares during the last quarter. Institutional investors own 96.03% 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).