Victory Capital Management Inc. Has $14.13 Million Stock Position in Arcellx, Inc. $ACLX

Victory Capital Management Inc. cut its holdings in Arcellx, Inc. (NASDAQ:ACLX) by 13.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 172,049 shares of the company’s stock after selling 27,692 shares during the quarter. Victory Capital Management Inc.’s holdings in Arcellx were worth $14,125,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. MAI Capital Management acquired a new stake in Arcellx in the 3rd quarter worth about $26,000. CWM LLC increased its holdings in shares of Arcellx by 267.0% during the third quarter. CWM LLC now owns 345 shares of the company’s stock worth $28,000 after purchasing an additional 251 shares during the period. State of Wyoming bought a new position in shares of Arcellx during the second quarter worth approximately $28,000. PNC Financial Services Group Inc. raised its position in shares of Arcellx by 183.4% in the second quarter. PNC Financial Services Group Inc. now owns 751 shares of the company’s stock valued at $49,000 after buying an additional 486 shares in the last quarter. Finally, Abich Financial Wealth Management LLC acquired a new stake in shares of Arcellx in the third quarter valued at approximately $62,000. 96.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on ACLX. Truist Financial cut Arcellx from a “buy” rating to a “hold” rating and dropped their price objective for the company from $134.00 to $120.00 in a report on Monday, February 23rd. Stifel Nicolaus reiterated a “hold” rating and set a $115.00 price objective (down from $127.00) on shares of Arcellx in a research note on Monday, February 23rd. Robert W. Baird reissued a “neutral” rating and issued a $115.00 target price (up from $106.00) on shares of Arcellx in a report on Monday, February 23rd. TD Cowen downgraded shares of Arcellx from a “strong-buy” rating to a “hold” rating in a report on Monday, March 2nd. Finally, Guggenheim lowered shares of Arcellx from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $120.00 to $115.00 in a research report on Wednesday, February 25th. One investment analyst has rated the stock with a Buy rating, seventeen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $111.87.

Arcellx Stock Performance

Shares of NASDAQ:ACLX opened at $114.39 on Wednesday. The company has a fifty day moving average of $78.68 and a 200-day moving average of $78.37. The company has a market capitalization of $6.69 billion, a PE ratio of -28.11 and a beta of 0.23. Arcellx, Inc. has a 52-week low of $47.86 and a 52-week high of $114.80.

Arcellx (NASDAQ:ACLX) last released its quarterly earnings data on Thursday, February 26th. The company reported ($1.01) earnings per share for the quarter, meeting the consensus estimate of ($1.01). Arcellx had a negative return on equity of 55.42% and a negative net margin of 1,027.26%.The company had revenue of $1.65 million for the quarter, compared to the consensus estimate of $13.40 million. On average, equities analysts forecast that Arcellx, Inc. will post -1.58 EPS for the current fiscal year.

Insider Transactions at Arcellx

In other news, insider Christopher Heery sold 5,882 shares of the business’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $68.51, for a total value of $402,975.82. Following the transaction, the insider directly owned 23,749 shares of the company’s stock, valued at $1,627,043.99. The trade was a 19.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Rami Elghandour sold 89,916 shares of the business’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $113.92, for a total transaction of $10,243,230.72. Following the transaction, the insider owned 276,051 shares in the company, valued at $31,447,729.92. The trade was a 24.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 109,366 shares of company stock worth $11,526,708 in the last quarter. Corporate insiders own 8.35% of the company’s stock.

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.