Arcellx, Inc. (NASDAQ:ACLX) Director Sells $96,855.00 in Stock

Arcellx, Inc. (NASDAQ:ACLXGet Free Report) Director Kavita Patel sold 1,500 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $64.57, for a total transaction of $96,855.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Kavita Patel also recently made the following trade(s):

  • On Tuesday, January 14th, Kavita Patel sold 1,500 shares of Arcellx stock. The stock was sold at an average price of $65.87, for a total value of $98,805.00.
  • On Tuesday, December 24th, Kavita Patel sold 1,500 shares of Arcellx stock. The shares were sold at an average price of $76.97, for a total value of $115,455.00.
  • On Tuesday, December 3rd, Kavita Patel sold 1,500 shares of Arcellx stock. The stock was sold at an average price of $91.88, for a total value of $137,820.00.
  • On Friday, November 8th, Kavita Patel sold 33,763 shares of Arcellx stock. The shares were sold at an average price of $104.14, for a total transaction of $3,516,078.82.
  • On Monday, November 11th, Kavita Patel sold 15,238 shares of Arcellx stock. The stock was sold at an average price of $105.92, for a total transaction of $1,614,008.96.

Arcellx Stock Up 4.6 %

ACLX stock traded up $2.96 during mid-day trading on Tuesday, reaching $67.72. 561,892 shares of the company traded hands, compared to its average volume of 700,800. The firm’s 50 day moving average price is $75.68 and its 200 day moving average price is $76.90. The stock has a market cap of $3.66 billion, a price-to-earnings ratio of -95.38 and a beta of 0.29. Arcellx, Inc. has a fifty-two week low of $47.88 and a fifty-two week high of $107.37.

Arcellx (NASDAQ:ACLXGet Free Report) last announced its earnings results on Thursday, November 7th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $0.06. The company had revenue of $26.03 million for the quarter, compared to analysts’ expectations of $35.21 million. Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. On average, analysts anticipate that Arcellx, Inc. will post -1.58 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on ACLX. Morgan Stanley boosted their target price on shares of Arcellx from $81.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Barclays raised Arcellx to a “strong-buy” rating in a research note on Friday, November 29th. Truist Financial raised their target price on Arcellx from $87.00 to $136.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. HC Wainwright reissued a “buy” rating and issued a $115.00 price target on shares of Arcellx in a research note on Tuesday, December 10th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $105.00 price objective on shares of Arcellx in a research note on Monday, December 9th. Thirteen analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Arcellx presently has a consensus rating of “Buy” and an average target price of $105.93.

Check Out Our Latest Stock Analysis on Arcellx

Institutional Trading of Arcellx

Institutional investors have recently made changes to their positions in the company. KBC Group NV increased its position in shares of Arcellx by 37.3% during the fourth quarter. KBC Group NV now owns 1,388 shares of the company’s stock valued at $106,000 after acquiring an additional 377 shares during the last quarter. Quarry LP bought a new position in Arcellx in the 3rd quarter valued at $125,000. Quest Partners LLC increased its position in shares of Arcellx by 210.1% during the 3rd quarter. Quest Partners LLC now owns 1,532 shares of the company’s stock valued at $128,000 after purchasing an additional 1,038 shares during the last quarter. Covestor Ltd raised its stake in shares of Arcellx by 53,766.7% during the 3rd quarter. Covestor Ltd now owns 1,616 shares of the company’s stock worth $135,000 after purchasing an additional 1,613 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Arcellx by 21.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,944 shares of the company’s stock worth $161,000 after buying an additional 347 shares during the last quarter. Institutional investors own 96.03% of the company’s stock.

Arcellx Company Profile

(Get Free Report)

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).

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Insider Buying and Selling by Quarter for Arcellx (NASDAQ:ACLX)

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