Brevan Howard Capital Management LP Purchases Shares of 6,079 Arcellx, Inc. (NASDAQ:ACLX)

Brevan Howard Capital Management LP acquired a new position in shares of Arcellx, Inc. (NASDAQ:ACLX) in the 4th quarter, HoldingsChannel reports. The fund acquired 6,079 shares of the company’s stock, valued at approximately $466,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ACLX. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Arcellx by 9.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,836 shares of the company’s stock worth $754,000 after buying an additional 858 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Arcellx by 156.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 305,088 shares of the company’s stock valued at $23,400,000 after purchasing an additional 186,013 shares during the last quarter. Gilead Sciences Inc. bought a new position in shares of Arcellx during the fourth quarter valued at about $515,418,000. Swiss National Bank boosted its holdings in Arcellx by 0.8% during the fourth quarter. Swiss National Bank now owns 63,400 shares of the company’s stock worth $4,862,000 after purchasing an additional 500 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in Arcellx by 35.7% in the 4th quarter. Wells Fargo & Company MN now owns 26,638 shares of the company’s stock worth $2,043,000 after purchasing an additional 7,002 shares in the last quarter. 96.03% of the stock is owned by institutional investors.

Insider Activity at Arcellx

In related news, insider Christopher Heery sold 10,155 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $63.79, for a total transaction of $647,787.45. Following the sale, the insider now owns 37,486 shares of the company’s stock, valued at approximately $2,391,231.94. This represents a 21.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Rami Elghandour sold 38,300 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $62.02, for a total value of $2,375,366.00. Following the sale, the insider now owns 149,186 shares in the company, valued at approximately $9,252,515.72. This represents a 20.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,455 shares of company stock worth $3,407,903. Corporate insiders own 6.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Scotiabank dropped their target price on shares of Arcellx from $133.00 to $93.00 and set a “sector outperform” rating on the stock in a research report on Friday. Thirteen research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $109.31.

Arcellx Price Performance

Shares of ACLX opened at $57.77 on Friday. Arcellx, Inc. has a 1 year low of $47.86 and a 1 year high of $107.37. The stock’s fifty day moving average price is $64.45 and its two-hundred day moving average price is $73.02. The firm has a market cap of $3.18 billion, a PE ratio of -81.37 and a beta of 0.34.

Arcellx (NASDAQ:ACLX) last issued its earnings results on Thursday, May 8th. The company reported ($1.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.29). Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. The business had revenue of $8.13 million for the quarter, compared to the consensus estimate of $19.51 million. Sell-side analysts anticipate that Arcellx, Inc. will post -1.58 earnings per share for the current fiscal year.

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).