Arcellx, Inc. (NASDAQ:ACLX) Director Olivia C. Ware Sells 9,402 Shares of Stock

Arcellx, Inc. (NASDAQ:ACLX) Director Olivia C. Ware sold 9,402 shares of the stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $55.55, for a total transaction of $522,281.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Olivia C. Ware also recently made the following trade(s):

• On Friday, March 15th, Olivia C. Ware sold 9,000 shares of Arcellx stock. The shares were sold at an average price of $70.40, for a total value of $633,600.00.

Arcellx Trading Up 1.8 %

Shares of NASDAQ:ACLX opened at $54.50 on Friday. Arcellx, Inc. has a 52 week low of $30.74 and a 52 week high of $75.10. The company’s 50 day moving average is $65.23 and its two-hundred day moving average is $54.84. The company has a market cap of $2.90 billion, a PE ratio of -37.07 and a beta of 0.02.

Arcellx (NASDAQ:ACLX) last posted its earnings results on Wednesday, February 28th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of ($0.53) by $0.95. The firm had revenue of $63.15 million for the quarter, compared to analyst estimates of $20.07 million. Arcellx had a negative return on equity of 20.96% and a negative net margin of 64.08%. During the same quarter in the prior year, the company posted ($0.76) earnings per share. As a group, equities research analysts expect that Arcellx, Inc. will post -1.69 EPS for the current year.

Institutional Investors Weigh In On Arcellx

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Citigroup Inc. purchased a new position in Arcellx in the first quarter valued at approximately $26,000. China Universal Asset Management Co. Ltd. lifted its position in Arcellx by 98.4% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,248 shares of the company’s stock valued at $45,000 after acquiring an additional 619 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Arcellx by 219.0% in the first quarter. Tower Research Capital LLC TRC now owns 1,464 shares of the company’s stock valued at $45,000 after acquiring an additional 1,005 shares in the last quarter. California State Teachers Retirement System purchased a new position in shares of Arcellx during the first quarter worth about $54,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Arcellx during the first quarter worth about $60,000. Institutional investors and hedge funds own 96.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ACLX shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $81.00 price objective on shares of Arcellx in a research note on Thursday, April 11th. Truist Financial lifted their target price on Arcellx from $57.00 to $87.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Scotiabank reissued an “outperform” rating and set a $82.00 price target on shares of Arcellx in a research report on Thursday, April 4th. Canaccord Genuity Group lifted their price objective on shares of Arcellx from $66.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Finally, Barclays increased their target price on shares of Arcellx from $62.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $74.17.

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).