Christopher Heery Sells 3,301 Shares of Arcellx, Inc. (NASDAQ:ACLX) Stock

Arcellx, Inc. (NASDAQ:ACLX) insider Christopher Heery sold 3,301 shares of Arcellx stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $79.55, for a total transaction of $262,594.55. Following the completion of the transaction, the insider now directly owns 35,517 shares in the company, valued at approximately $2,825,377.35. The trade was a 8.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, January 6th, Christopher Heery sold 3,061 shares of Arcellx stock. The shares were sold at an average price of $77.17, for a total transaction of $236,217.37.

Arcellx Price Performance

NASDAQ ACLX opened at $72.26 on Thursday. Arcellx, Inc. has a 1 year low of $47.88 and a 1 year high of $107.37. The company has a market capitalization of $3.91 billion, a PE ratio of -101.77 and a beta of 0.33. The company has a fifty day moving average of $85.75 and a 200 day moving average of $75.64.

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

Institutional Investors Weigh In On Arcellx

Several hedge funds have recently bought and sold shares of the stock. RA Capital Management L.P. increased its holdings in shares of Arcellx by 15.4% during the 3rd quarter. RA Capital Management L.P. now owns 1,851,479 shares of the company’s stock valued at $154,617,000 after purchasing an additional 247,465 shares in the last quarter. First Turn Management LLC purchased a new position in Arcellx in the third quarter valued at $17,896,000. Great Point Partners LLC raised its position in shares of Arcellx by 64.0% in the second quarter. Great Point Partners LLC now owns 492,000 shares of the company’s stock worth $27,153,000 after acquiring an additional 192,000 shares during the period. Affinity Asset Advisors LLC raised its position in shares of Arcellx by 53.3% in the second quarter. Affinity Asset Advisors LLC now owns 460,000 shares of the company’s stock worth $25,387,000 after acquiring an additional 160,000 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in shares of Arcellx by 5.7% during the 3rd quarter. Janus Henderson Group PLC now owns 2,011,950 shares of the company’s stock worth $168,026,000 after acquiring an additional 109,332 shares in the last quarter. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on ACLX shares. HC Wainwright reiterated a “buy” rating and set a $115.00 price objective on shares of Arcellx in a report on Tuesday, December 10th. Morgan Stanley raised their price target on Arcellx from $81.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Truist Financial boosted their price target on Arcellx from $87.00 to $136.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Redburn Atlantic assumed coverage on shares of Arcellx in a research report on Tuesday, October 8th. They issued a “buy” rating and a $109.00 price objective for the company. Finally, Piper Sandler boosted their target price on shares of Arcellx from $91.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Thirteen investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price 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).