Kavita Patel Sells 1,500 Shares of Arcellx, Inc. (NASDAQ:ACLX) Stock

Arcellx, Inc. (NASDAQ:ACLX) Director Kavita Patel sold 1,500 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $64.57, for a total transaction of $96,855.00. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Tuesday, January 14th, Kavita Patel sold 1,500 shares of Arcellx stock. The shares were sold at an average price of $65.87, for a total value of $98,805.00.
• On Tuesday, December 24th, Kavita Patel sold 1,500 shares of Arcellx stock. The stock was sold at an average price of $76.97, for a total transaction of $115,455.00.
• On Tuesday, December 3rd, Kavita Patel sold 1,500 shares of Arcellx stock. The stock was 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 stock was 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.

Arcellx Stock Performance

Shares of NASDAQ:ACLX opened at $68.56 on Thursday. The firm has a 50 day simple moving average of $75.27 and a 200 day simple moving average of $76.84. Arcellx, Inc. has a 52 week low of $47.88 and a 52 week high of $107.37. The company has a market cap of $3.71 billion, a PE ratio of -96.56 and a beta of 0.29.

Arcellx (NASDAQ:ACLX) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.48) earnings per share for the quarter, beating the consensus estimate of ($0.54) by $0.06. Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. The firm had revenue of $26.03 million for the quarter, compared to analyst estimates of $35.21 million. On average, equities analysts predict that Arcellx, Inc. will post -1.58 earnings per share for the current year.

Institutional Trading of Arcellx

Hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC grew its position in Arcellx by 5.7% during the third quarter. Janus Henderson Group PLC now owns 2,011,950 shares of the company’s stock valued at $168,026,000 after purchasing an additional 109,332 shares in the last quarter. RA Capital Management L.P. grew 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 acquiring an additional 247,465 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Arcellx by 4.3% in the third quarter. Geode Capital Management LLC now owns 974,967 shares of the company’s stock worth $81,434,000 after acquiring an additional 39,781 shares during the last quarter. Lord Abbett & CO. LLC raised its holdings in shares of Arcellx by 2.1% during the third quarter. Lord Abbett & CO. LLC now owns 891,848 shares of the company’s stock worth $74,478,000 after acquiring an additional 18,004 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted 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 valued at $27,399,000 after purchasing an additional 14,200 shares during the last quarter. 96.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on ACLX. Robert W. Baird raised their target price on Arcellx from $77.00 to $106.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Canaccord Genuity Group upped their price objective on shares of Arcellx from $85.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $105.00 target price on shares of Arcellx in a research note on Monday, December 9th. Piper Sandler boosted their price target on shares of Arcellx from $91.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Finally, HC Wainwright restated a “buy” rating and set a $115.00 price target on shares of Arcellx in a report on Tuesday, December 10th. Thirteen equities research 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, the company presently has a consensus rating of “Buy” and a consensus price target of $105.93.

About Arcellx

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).