TD Asset Management Inc Cuts Stock Position in Arcellx, Inc. $ACLX

TD Asset Management Inc cut its holdings in Arcellx, Inc. (NASDAQ:ACLX) by 38.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 103,460 shares of the company’s stock after selling 64,860 shares during the quarter. TD Asset Management Inc’s holdings in Arcellx were worth $6,813,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Amalgamated Bank increased its position in shares of Arcellx by 12.0% in the first quarter. Amalgamated Bank now owns 1,508 shares of the company’s stock valued at $99,000 after buying an additional 161 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Arcellx by 104.1% during the first quarter. GAMMA Investing LLC now owns 494 shares of the company’s stock worth $32,000 after purchasing an additional 252 shares in the last quarter. Rhumbline Advisers increased its position in shares of Arcellx by 6.4% during the first quarter. Rhumbline Advisers now owns 63,751 shares of the company’s stock worth $4,182,000 after purchasing an additional 3,848 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Arcellx by 54.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 7,702 shares of the company’s stock worth $468,000 after purchasing an additional 2,702 shares in the last quarter. Finally, Strs Ohio purchased a new stake in shares of Arcellx during the first quarter worth approximately $938,000. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Arcellx

In other news, insider Christopher Heery sold 21,034 shares of the company’s stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $81.28, for a total value of $1,709,643.52. Following the transaction, the insider owned 624 shares of the company’s stock, valued at $50,718.72. This represents a 97.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders sold 37,146 shares of company stock valued at $3,000,136. Corporate insiders own 8.35% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on ACLX shares. Stifel Nicolaus set a $129.00 price target on Arcellx and gave the stock a “buy” rating in a research report on Thursday. Cantor Fitzgerald reiterated a “neutral” rating and set a $88.00 price target on shares of Arcellx in a research report on Thursday, October 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcellx in a research report on Wednesday, October 8th. Finally, Scotiabank boosted their price target on Arcellx from $93.00 to $133.00 and gave the stock a “sector outperform” rating in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $113.08.

Arcellx Stock Performance

NASDAQ ACLX opened at $86.99 on Monday. The stock’s fifty day moving average is $77.12 and its two-hundred day moving average is $68.83. The firm has a market capitalization of $4.82 billion, a P/E ratio of -25.44 and a beta of 0.31. Arcellx, Inc. has a fifty-two week low of $47.86 and a fifty-two week high of $107.37.

Arcellx (NASDAQ:ACLX) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.94) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.03) by $0.09. The company had revenue of $7.55 million for the quarter, compared to analyst estimates of $16.76 million. Arcellx had a negative return on equity of 43.04% and a negative net margin of 329.93%. As a group, sell-side analysts forecast that Arcellx, Inc. will post -1.58 EPS for the current 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).