Insider Selling: Arcellx (NASDAQ:ACLX) Insider Sells 6,131 Shares of Stock

Arcellx, Inc. (NASDAQ:ACLX) insider Christopher Heery sold 6,131 shares of the company’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $64.15, for a total value of $393,303.65. Following the completion of the sale, the insider owned 37,068 shares of the company’s stock, valued at approximately $2,377,912.20. The trade was a 14.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, November 17th, Christopher Heery sold 340 shares of Arcellx stock. The stock was sold at an average price of $90.00, for a total transaction of $30,600.00.

Arcellx Stock Down 2.1%

ACLX stock traded down $1.40 during trading on Monday, reaching $64.87. The company’s stock had a trading volume of 557,782 shares, compared to its average volume of 876,848. The company’s fifty day moving average is $73.69 and its 200-day moving average is $74.88. The company has a market capitalization of $3.75 billion, a P/E ratio of -16.51 and a beta of 0.36. Arcellx, Inc. has a 1 year low of $47.86 and a 1 year high of $94.07.

Arcellx (NASDAQ:ACLX) last posted its earnings results on Wednesday, November 5th. The company reported ($0.99) earnings per share for the quarter, missing the consensus estimate of ($0.96) by ($0.03). Arcellx had a negative net margin of 607.01% and a negative return on equity of 51.13%. The company had revenue of $4.95 million for the quarter, compared to analysts’ expectations of $11.24 million. Analysts anticipate that Arcellx, Inc. will post -1.58 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on ACLX shares. Wells Fargo & Company started coverage on shares of Arcellx in a research note on Monday, December 22nd. They issued an “overweight” rating and a $100.00 price objective for the company. Citigroup reaffirmed a “buy” rating on shares of Arcellx in a research note on Monday, November 24th. Cantor Fitzgerald reiterated a “neutral” rating and set a $88.00 price objective on shares of Arcellx in a research report on Thursday, October 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Arcellx in a report on Wednesday, October 8th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Arcellx in a research report on Monday, December 8th. Nine research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Arcellx presently has a consensus rating of “Moderate Buy” and an average target price of $112.22.

Hedge Funds Weigh In On Arcellx

Institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Arcellx by 5.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,753 shares of the company’s stock worth $1,893,000 after buying an additional 1,390 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of Arcellx in the 1st quarter valued at $1,768,000. Intech Investment Management LLC raised its stake in Arcellx by 27.7% in the 1st quarter. Intech Investment Management LLC now owns 21,967 shares of the company’s stock worth $1,441,000 after acquiring an additional 4,760 shares during the last quarter. Strs Ohio acquired a new stake in Arcellx during the 1st quarter worth about $938,000. Finally, Rhumbline Advisers lifted its position in Arcellx by 6.4% during the 1st quarter. Rhumbline Advisers now owns 63,751 shares of the company’s stock worth $4,182,000 after acquiring an additional 3,848 shares during the period. 96.03% of the stock is owned by hedge funds and other institutional investors.

Arcellx Company Profile

Arcellx, Inc (NASDAQ: ACLX) is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of next-generation cell therapies for oncology and autoimmune diseases. The company’s proprietary ARC-SparX™ platform is designed to enable precise control over cell-surface receptor activation and to improve the safety, efficacy and durability of adoptive cell therapies. Leveraging this technology, Arcellx engineers immune cells with modular antigen-binding domains that can be exchanged to target a variety of disease-associated markers.

The company’s pipeline comprises multiple wholly owned programs in hematologic malignancies and solid tumors at various stages of preclinical and clinical development.