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 stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $71.64, for a total value of $107,460.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Tuesday, February 25th, Kavita Patel sold 1,500 shares of Arcellx stock. The stock was sold at an average price of $63.16, for a total value of $94,740.00.
• On Tuesday, February 4th, Kavita Patel sold 1,500 shares of Arcellx stock. The stock was sold at an average price of $64.57, for a total value of $96,855.00.
• On Tuesday, January 14th, Kavita Patel sold 1,500 shares of Arcellx stock. The stock was 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 shares were sold at an average price of $76.97, for a total value of $115,455.00.

Arcellx Price Performance

Shares of ACLX opened at $71.35 on Thursday. The stock’s 50-day moving average is $66.59 and its two-hundred day moving average is $77.76. The stock has a market cap of $3.92 billion, a PE ratio of -100.49 and a beta of 0.32. Arcellx, Inc. has a 12 month low of $47.88 and a 12 month high of $107.37.

Arcellx (NASDAQ:ACLX) last announced its earnings results on Thursday, February 27th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.24). Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. The business had revenue of $15.27 million for the quarter, compared to analysts’ expectations of $27.42 million. On average, research analysts anticipate that Arcellx, Inc. will post -1.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ACLX. Needham & Company LLC reaffirmed a “buy” rating and issued a $105.00 price objective on shares of Arcellx in a research note on Monday, December 9th. Barclays raised Arcellx to a “strong-buy” rating in a research report on Friday, November 29th. HC Wainwright restated a “buy” rating and set a $115.00 price objective on shares of Arcellx in a report on Tuesday, December 10th. Finally, UBS Group raised their price objective on Arcellx from $106.00 to $114.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. 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.com, the company currently has a consensus rating of “Buy” and a consensus price target of $108.46.

Institutional Trading of Arcellx

Several hedge funds and other institutional investors have recently bought and sold shares of the company. GF Fund Management CO. LTD. bought a new stake in Arcellx in the fourth quarter valued at about $87,000. Voloridge Investment Management LLC boosted its position in shares of Arcellx by 5.3% during the fourth quarter. Voloridge Investment Management LLC now owns 178,198 shares of the company’s stock worth $13,666,000 after buying an additional 8,936 shares during the period. Woodline Partners LP boosted its position in shares of Arcellx by 13.2% during the fourth quarter. Woodline Partners LP now owns 125,649 shares of the company’s stock worth $9,636,000 after buying an additional 14,660 shares during the period. Soleus Capital Management L.P. lifted its position in Arcellx by 30.1% in the fourth quarter. Soleus Capital Management L.P. now owns 121,031 shares of the company’s stock worth $9,282,000 after purchasing an additional 28,000 shares during the period. Finally, Two Sigma Advisers LP lifted its position in Arcellx by 24.4% in the fourth quarter. Two Sigma Advisers LP now owns 5,600 shares of the company’s stock worth $429,000 after purchasing an additional 1,100 shares during the period. 96.03% of the stock is owned by institutional investors.

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).