3,509 Shares in Arcellx, Inc. (NASDAQ:ACLX) Purchased by Entropy Technologies LP

Entropy Technologies LP acquired a new stake in shares of Arcellx, Inc. (NASDAQ:ACLX) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,509 shares of the company’s stock, valued at approximately $293,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Quest Partners LLC purchased a new stake in shares of Arcellx during the second quarter worth approximately $27,000. Plato Investment Management Ltd purchased a new position in Arcellx during the 1st quarter worth $51,000. Decheng Capital LLC acquired a new stake in shares of Arcellx in the 2nd quarter worth $65,000. National Bank of Canada FI boosted its holdings in shares of Arcellx by 50.0% in the second quarter. National Bank of Canada FI now owns 1,500 shares of the company’s stock valued at $80,000 after acquiring an additional 500 shares in the last quarter. Finally, Covestor Ltd increased its stake in shares of Arcellx by 53,766.7% during the third quarter. Covestor Ltd now owns 1,616 shares of the company’s stock worth $135,000 after acquiring an additional 1,613 shares during the period. 96.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Canaccord Genuity Group raised their price objective on shares of Arcellx from $85.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Piper Sandler lifted their price target on Arcellx from $91.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcellx in a research report on Monday, September 9th. Robert W. Baird raised their target price on Arcellx from $77.00 to $106.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Finally, Stifel Nicolaus increased their price target on shares of Arcellx from $83.00 to $122.00 and gave the company a “buy” rating in a report on Friday, October 18th. Thirteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Arcellx currently has a consensus rating of “Buy” and an average price target of $103.08.

Insider Activity at Arcellx

In other news, CFO Michelle Gilson sold 15,000 shares of Arcellx stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $77.73, for a total value of $1,165,950.00. Following the completion of the sale, the chief financial officer now owns 6,915 shares of the company’s stock, valued at $537,502.95. The trade was a 68.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher Heery sold 27,451 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $67.03, for a total value of $1,840,040.53. Following the transaction, the insider now owns 9,278 shares in the company, valued at $621,904.34. This trade represents a 74.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 119,557 shares of company stock valued at $10,163,933. 6.24% of the stock is owned by insiders.

Arcellx Price Performance

Shares of Arcellx stock opened at $87.83 on Friday. Arcellx, Inc. has a 1 year low of $46.42 and a 1 year high of $107.37. The company has a market capitalization of $4.75 billion, a P/E ratio of -123.70 and a beta of 0.27. The business has a 50 day moving average price of $85.97 and a 200 day moving average price of $67.65.

Arcellx (NASDAQ:ACLX) last announced its earnings results on Thursday, November 7th. The company reported ($0.48) EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $35.21 million. As a group, research analysts expect that Arcellx, Inc. will post -1.49 EPS for the current fiscal year.

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).