Insider Selling: Arcellx, Inc. (NASDAQ:ACLX) Director Sells $115,455.00 in Stock

Arcellx, Inc. (NASDAQ:ACLX) Director Kavita Patel sold 1,500 shares of Arcellx stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $76.97, for a total transaction of $115,455.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Tuesday, December 3rd, Kavita Patel sold 1,500 shares of Arcellx stock. The shares were sold at an average price of $91.88, for a total transaction 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 value of $3,516,078.82.
• On Monday, November 11th, Kavita Patel sold 15,238 shares of Arcellx stock. The shares were sold at an average price of $105.92, for a total transaction of $1,614,008.96.
• On Tuesday, October 22nd, Kavita Patel sold 1,500 shares of Arcellx stock. The stock was sold at an average price of $89.69, for a total transaction of $134,535.00.

Arcellx Stock Up 0.1 %

ACLX stock opened at $79.08 on Friday. Arcellx, Inc. has a twelve month low of $47.88 and a twelve month high of $107.37. The company has a market cap of $4.28 billion, a price-to-earnings ratio of -111.38 and a beta of 0.25. The business has a 50 day moving average price of $87.15 and a two-hundred day moving average price of $74.24.

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

Analyst Ratings Changes

ACLX has been the topic of several recent analyst reports. Barclays upgraded Arcellx to a “strong-buy” rating in a report on Friday, November 29th. Robert W. Baird increased their target price on Arcellx from $77.00 to $106.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Canaccord Genuity Group lifted their price target on shares of Arcellx from $85.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Morgan Stanley increased their price objective on shares of Arcellx from $81.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcellx in a research report on Monday, September 9th. Thirteen investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $105.93.

Institutional Investors Weigh In On Arcellx

A number of large investors have recently added to or reduced their stakes in ACLX. First Turn Management LLC acquired a new stake in shares of Arcellx during the 3rd quarter worth about $17,896,000. Charles Schwab Investment Management Inc. lifted its position in Arcellx by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 328,093 shares of the company’s stock worth $27,399,000 after acquiring an additional 14,200 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in Arcellx by 37.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 27,896 shares of the company’s stock worth $2,330,000 after purchasing an additional 7,534 shares during the last quarter. Lord Abbett & CO. LLC grew its holdings in Arcellx by 2.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 891,848 shares of the company’s stock valued at $74,478,000 after buying an additional 18,004 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in Arcellx during the 2nd quarter worth $1,494,000. Institutional investors own 96.03% of the company’s stock.

Arcellx Company 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).