Pictet Asset Management Holding SA Raises Stock Holdings in Arcellx, Inc. (NASDAQ:ACLX)

Pictet Asset Management Holding SA raised its holdings in shares of Arcellx, Inc. (NASDAQ:ACLX) by 40.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 4,945 shares of the company’s stock after buying an additional 1,426 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Arcellx were worth $379,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Arcellx by 35.3% in the 4th quarter. Vanguard Group Inc. now owns 3,330,092 shares of the company’s stock valued at $255,385,000 after purchasing an additional 867,996 shares during the period. Geode Capital Management LLC raised its holdings in Arcellx by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 974,967 shares of the company’s stock valued at $81,434,000 after acquiring an additional 39,781 shares during the last quarter. Lord Abbett & CO. LLC raised its holdings in shares of Arcellx by 2.1% during the 3rd quarter. Lord Abbett & CO. LLC now owns 891,848 shares of the company’s stock worth $74,478,000 after acquiring an additional 18,004 shares during the period. Charles Schwab Investment Management Inc. grew its position in Arcellx by 4.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 343,085 shares of the company’s stock worth $26,311,000 after acquiring an additional 14,992 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Arcellx by 23.4% in the 4th quarter. Bank of New York Mellon Corp now owns 144,409 shares of the company’s stock valued at $11,075,000 after acquiring an additional 27,350 shares during the period. 96.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Arcellx news, insider Rami Elghandour sold 38,300 shares of the stock in a transaction dated 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 completion of the transaction, the insider now directly 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kavita Patel sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $57.50, for a total value of $86,250.00. The disclosure for this sale can be found here. Insiders have sold a total of 55,955 shares of company stock valued at $3,507,263 over the last quarter. 6.24% of the stock is currently owned by insiders.

Arcellx Stock Performance

Shares of ACLX opened at $59.16 on Thursday. The stock has a market capitalization of $3.25 billion, a PE ratio of -83.32 and a beta of 0.33. The company’s 50-day simple moving average is $65.77 and its 200-day simple moving average is $76.33. Arcellx, Inc. has a 1 year low of $47.88 and a 1 year high of $107.37.

Arcellx (NASDAQ:ACLX) last released 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). The company had revenue of $15.27 million for the quarter, compared to analyst estimates of $27.42 million. Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. On average, sell-side analysts predict that Arcellx, Inc. will post -1.58 earnings per share for the current year.

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).