Arcellx, Inc. (NASDAQ:ACLX) Insider Sells $236,217.37 in Stock

Arcellx, Inc. (NASDAQ:ACLX) insider Christopher Heery sold 3,061 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $77.17, for a total transaction of $236,217.37. Following the sale, the insider now directly owns 32,456 shares in the company, valued at approximately $2,504,629.52. The trade was a 8.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, January 3rd, Christopher Heery sold 3,301 shares of Arcellx stock. The stock was sold at an average price of $79.55, for a total value of $262,594.55.

Arcellx Stock Performance

NASDAQ ACLX opened at $75.01 on Tuesday. Arcellx, Inc. has a fifty-two week low of $47.88 and a fifty-two week high of $107.37. The firm has a market capitalization of $4.06 billion, a P/E ratio of -105.65 and a beta of 0.33. The stock’s fifty day moving average is $85.95 and its two-hundred day moving average is $75.49.

Arcellx (NASDAQ:ACLX) last posted its earnings results on Thursday, November 7th. The company reported ($0.48) EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $26.03 million for the quarter, compared to analysts’ expectations of $35.21 million. As a group, sell-side analysts forecast that Arcellx, Inc. will post -1.49 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Stifel Nicolaus upped their target price on Arcellx from $83.00 to $122.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Robert W. Baird upped their price objective on shares of Arcellx from $77.00 to $106.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. HC Wainwright reiterated a “buy” rating and issued a $115.00 target price on shares of Arcellx in a research report on Tuesday, December 10th. Piper Sandler upped their price target on shares of Arcellx from $91.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, Barclays raised shares of Arcellx to a “strong-buy” rating in a research note on Friday, November 29th. Thirteen equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Arcellx currently has an average rating of “Buy” and a consensus target price of $105.93.

Institutional Investors Weigh In On Arcellx

Several large investors have recently added to or reduced their stakes in ACLX. Mirae Asset Global Investments Co. Ltd. boosted its position in Arcellx by 21.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,944 shares of the company’s stock valued at $161,000 after buying an additional 347 shares during the period. Quest Partners LLC purchased a new position in Arcellx in the second quarter valued at $27,000. National Bank of Canada FI grew its stake in Arcellx by 50.0% during the 2nd quarter. National Bank of Canada FI now owns 1,500 shares of the company’s stock worth $80,000 after purchasing an additional 500 shares in the last quarter. High Net Worth Advisory Group LLC increased its holdings in Arcellx by 6.3% during the 3rd quarter. High Net Worth Advisory Group LLC now owns 8,500 shares of the company’s stock worth $710,000 after purchasing an additional 500 shares during the period. Finally, Principal Financial Group Inc. raised 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 purchasing an additional 517 shares in the last quarter. 96.03% of the stock is owned by hedge funds and other 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).