Arcellx, Inc. (NASDAQ:ACLX) Insider Christopher Heery Sells 3,061 Shares

Arcellx, Inc. (NASDAQ:ACLX) insider Christopher Heery sold 3,061 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $77.17, for a total transaction of $236,217.37. Following the sale, the insider now owns 32,456 shares in the company, valued at $2,504,629.52. The trade was a 8.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Friday, January 3rd, Christopher Heery sold 3,301 shares of Arcellx stock. The shares were sold at an average price of $79.55, for a total transaction of $262,594.55.

Arcellx Trading Up 2.7 %

NASDAQ:ACLX opened at $77.05 on Wednesday. Arcellx, Inc. has a 12-month low of $47.88 and a 12-month high of $107.37. The stock’s 50 day simple moving average is $85.75 and its 200-day simple moving average is $75.64. The firm has a market cap of $4.17 billion, a P/E ratio of -108.52 and a beta of 0.33.

Arcellx (NASDAQ:ACLX) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.48) EPS for the quarter, topping 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%. Research analysts forecast that Arcellx, Inc. will post -1.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Arcellx

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACLX. Lord Abbett & CO. LLC boosted its stake in shares of Arcellx by 2.1% in the third 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. Geode Capital Management LLC grew its stake in shares of Arcellx by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 974,967 shares of the company’s stock worth $81,434,000 after purchasing an additional 39,781 shares during the period. Wellington Management Group LLP increased its holdings in shares of Arcellx by 15.2% in the 3rd quarter. Wellington Management Group LLP now owns 20,968 shares of the company’s stock valued at $1,751,000 after purchasing an additional 2,768 shares in the last quarter. Quarry LP acquired a new stake in shares of Arcellx in the third quarter valued at about $125,000. Finally, RA Capital Management L.P. boosted its holdings in Arcellx by 15.4% during the third quarter. RA Capital Management L.P. now owns 1,851,479 shares of the company’s stock worth $154,617,000 after buying an additional 247,465 shares in the last quarter. Institutional investors and hedge funds own 96.03% of the company’s stock.

Wall Street Analysts Forecast Growth

ACLX has been the topic of a number of analyst reports. Morgan Stanley raised their price target on Arcellx from $81.00 to $106.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Bank of America raised their target price on Arcellx from $84.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. UBS Group upped their price target on Arcellx from $106.00 to $114.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Stifel Nicolaus raised their price objective on shares of Arcellx from $83.00 to $122.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Piper Sandler upped their target price on shares of Arcellx from $91.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Thirteen equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Arcellx has a consensus rating of “Buy” and an average price target of $105.93.

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).