Arcellx (NASDAQ:ACLX) Insider Christopher Heery Sells 5,882 Shares of Stock

Arcellx, Inc. (NASDAQ:ACLX) insider Christopher Heery sold 5,882 shares of the business’s stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $68.51, for a total value of $402,975.82. Following the completion of the transaction, the insider directly owned 23,749 shares of the company’s stock, valued at approximately $1,627,043.99. This trade represents a 19.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, January 13th, Christopher Heery sold 7,437 shares of Arcellx stock. The stock was sold at an average price of $65.51, for a total value of $487,197.87.
• On Monday, January 12th, Christopher Heery sold 6,131 shares of Arcellx stock. The shares were sold at an average price of $64.15, for a total transaction of $393,303.65.
• 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 Price Performance

NASDAQ:ACLX opened at $69.86 on Thursday. The firm has a market cap of $4.04 billion, a PE ratio of -17.78 and a beta of 0.36. The firm has a 50 day simple moving average of $72.91 and a 200-day simple moving average of $74.85. Arcellx, Inc. has a 1-year low of $47.86 and a 1-year high of $94.07.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Avanza Fonder AB increased its position in shares of Arcellx by 64.3% in the fourth quarter. Avanza Fonder AB now owns 2,003 shares of the company’s stock worth $131,000 after acquiring an additional 784 shares in the last quarter. Congress Asset Management Co. boosted its position in Arcellx by 2.8% during the 4th quarter. Congress Asset Management Co. now owns 25,999 shares of the company’s stock worth $1,695,000 after purchasing an additional 697 shares during the period. SG Americas Securities LLC increased its holdings in Arcellx by 48.4% in the 4th quarter. SG Americas Securities LLC now owns 12,041 shares of the company’s stock valued at $785,000 after purchasing an additional 3,926 shares in the last quarter. Harbour Capital Advisors LLC purchased a new position in Arcellx in the fourth quarter valued at about $242,000. Finally, CIBC Bancorp USA Inc. acquired a new position in shares of Arcellx during the third quarter worth about $300,000. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on ACLX. Cantor Fitzgerald reissued a “neutral” rating and issued a $88.00 price target on shares of Arcellx in a research note on Thursday, October 9th. Stifel Nicolaus set a $129.00 target price on shares of Arcellx and gave the stock a “buy” rating in a research report on Thursday, October 16th. Citigroup restated a “buy” rating on shares of Arcellx in a report on Monday, November 24th. Wolfe Research started coverage on shares of Arcellx in a research note on Tuesday, November 18th. They set a “peer perform” rating on the stock. Finally, UBS Group initiated coverage on shares of Arcellx in a report on Wednesday, January 7th. They issued a “buy” rating on the stock. Nine equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $112.22.

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.