Thrivent Financial for Lutherans Has $4.03 Million Stock Holdings in Arcellx, Inc. (NASDAQ:ACLX)

Thrivent Financial for Lutherans cut its holdings in shares of Arcellx, Inc. (NASDAQ:ACLX) by 24.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 48,240 shares of the company’s stock after selling 15,785 shares during the period. Thrivent Financial for Lutherans’ holdings in Arcellx were worth $4,029,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Quest Partners LLC acquired a new position in Arcellx during the second quarter worth about $27,000. Plato Investment Management Ltd bought a new position in Arcellx in the 1st quarter valued at approximately $51,000. Decheng Capital LLC acquired a new stake in Arcellx in the second quarter valued at approximately $65,000. National Bank of Canada FI grew its stake in shares of Arcellx by 50.0% during the second quarter. National Bank of Canada FI now owns 1,500 shares of the company’s stock worth $80,000 after buying an additional 500 shares during the last quarter. Finally, Covestor Ltd increased its holdings in shares of Arcellx by 53,766.7% during the third quarter. Covestor Ltd now owns 1,616 shares of the company’s stock worth $135,000 after buying an additional 1,613 shares in the last quarter. Institutional investors and hedge funds own 96.03% of the company’s stock.

Insider Buying and Selling

In other Arcellx news, Director Kavita Patel sold 1,500 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $74.41, for a total transaction of $111,615.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Michelle Gilson sold 15,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $77.73, for a total value of $1,165,950.00. Following the completion of the transaction, the chief financial officer now directly owns 6,915 shares of the company’s stock, valued at $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. In the last 90 days, insiders sold 97,873 shares of company stock valued at $8,621,767. 6.24% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ACLX shares. Redburn Atlantic initiated coverage on Arcellx in a report on Tuesday, October 8th. They issued a “buy” rating and a $109.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and set a $96.00 target price on shares of Arcellx in a research report on Wednesday, November 6th. Truist Financial raised their price target on shares of Arcellx from $87.00 to $136.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Canaccord Genuity Group boosted their price objective on shares of Arcellx from $85.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcellx in a report on Monday, September 9th. Thirteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Arcellx currently has an average rating of “Buy” and an average target price of $103.08.

Arcellx Price Performance

Shares of NASDAQ:ACLX opened at $90.44 on Monday. Arcellx, Inc. has a 1 year low of $46.42 and a 1 year high of $107.37. The company has a market capitalization of $4.89 billion, a PE ratio of -127.38 and a beta of 0.27. The business has a fifty day moving average price of $87.29 and a two-hundred day moving average price of $68.89.

Arcellx (NASDAQ:ACLX) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.48) earnings per share for the quarter, beating the consensus estimate of ($0.54) by $0.06. The business had revenue of $26.03 million during the quarter, compared to analyst estimates of $35.21 million. Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. Sell-side analysts anticipate that Arcellx, Inc. will post -1.49 earnings per share for the current year.

Arcellx 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).