Arcellx, Inc. (NASDAQ:ACLX) Director Sells $107,460.00 in Stock

Arcellx, Inc. (NASDAQ:ACLX) Director Kavita Patel sold 1,500 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $71.64, for a total transaction of $107,460.00. The sale was disclosed in a filing with the SEC, which is available at 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 shares were sold at an average price of $63.16, for a total transaction 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 Stock Performance

NASDAQ ACLX traded down $2.87 during trading hours on Tuesday, reaching $69.87. The stock had a trading volume of 472,424 shares, compared to its average volume of 516,330. Arcellx, Inc. has a 52-week low of $47.88 and a 52-week high of $107.37. The stock has a market cap of $3.84 billion, a P/E ratio of -98.41 and a beta of 0.32. The stock has a fifty day moving average of $66.59 and a 200 day moving average of $77.76.

Arcellx (NASDAQ:ACLX) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.87) earnings per share 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 during the quarter, compared to analyst estimates of $27.42 million. On average, equities research analysts forecast that Arcellx, Inc. will post -1.58 EPS for the current year.

Institutional Investors Weigh In On Arcellx

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its stake in shares of Arcellx by 22.8% in the fourth quarter. FMR LLC now owns 7,956,633 shares of the company’s stock worth $610,194,000 after buying an additional 1,477,360 shares during the last quarter. Gilead Sciences Inc. acquired a new position in Arcellx in the fourth quarter valued at approximately $515,418,000. Vanguard Group Inc. boosted its position in Arcellx by 35.3% in the 4th quarter. Vanguard Group Inc. now owns 3,330,092 shares of the company’s stock worth $255,385,000 after purchasing an additional 867,996 shares in the last quarter. RA Capital Management L.P. grew its stake in shares of Arcellx by 50.5% during the 4th quarter. RA Capital Management L.P. now owns 2,787,327 shares of the company’s stock worth $213,760,000 after purchasing an additional 935,848 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Arcellx by 11.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,121,322 shares of the company’s stock valued at $162,685,000 after purchasing an additional 220,711 shares in the last quarter. 96.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ACLX has been the subject of several analyst reports. Barclays raised shares of Arcellx to a “strong-buy” rating in a research report on Friday, November 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $105.00 price target on shares of Arcellx in a report on Monday, December 9th. UBS Group boosted their target price on Arcellx from $106.00 to $114.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, HC Wainwright reiterated a “buy” rating and issued a $115.00 price target on shares of Arcellx in a research note on Tuesday, December 10th. Thirteen research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $108.46.

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).