Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Arcellx, Inc. $ACLX

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Arcellx, Inc. (NASDAQ:ACLX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 8,545 shares of the company’s stock, valued at approximately $563,000.

Other large investors also recently modified their holdings of the company. Vestal Point Capital LP increased its stake in shares of Arcellx by 402.7% in the 1st quarter. Vestal Point Capital LP now owns 2,387,720 shares of the company’s stock valued at $156,634,000 after acquiring an additional 1,912,720 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its stake in Arcellx by 135.9% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,665,138 shares of the company’s stock valued at $109,234,000 after purchasing an additional 959,216 shares in the last quarter. Vanguard Group Inc. increased its stake in Arcellx by 19.7% in the first quarter. Vanguard Group Inc. now owns 3,985,156 shares of the company’s stock valued at $261,426,000 after purchasing an additional 655,064 shares in the last quarter. RA Capital Management L.P. raised its holdings in shares of Arcellx by 8.9% during the first quarter. RA Capital Management L.P. now owns 3,036,527 shares of the company’s stock valued at $199,196,000 after purchasing an additional 249,200 shares during the period. Finally, Voya Investment Management LLC boosted its position in shares of Arcellx by 103.4% during the 1st quarter. Voya Investment Management LLC now owns 277,102 shares of the company’s stock worth $18,178,000 after purchasing an additional 140,899 shares in the last quarter. Institutional investors and hedge funds own 96.03% of the company’s stock.

Arcellx Stock Down 0.4%

ACLX stock opened at $89.62 on Thursday. The firm has a market capitalization of $5.18 billion, a PE ratio of -22.80 and a beta of 0.31. Arcellx, Inc. has a twelve month low of $47.86 and a twelve month high of $96.39. The stock’s 50 day moving average is $84.66 and its 200-day moving average is $73.08.

Arcellx (NASDAQ:ACLX) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.03). Arcellx had a negative net margin of 607.01% and a negative return on equity of 51.13%. The company had revenue of $4.95 million during the quarter, compared to analysts’ expectations of $11.24 million. On average, equities research analysts anticipate that Arcellx, Inc. will post -1.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on ACLX shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcellx in a research note on Wednesday, October 8th. Canaccord Genuity Group boosted their price objective on Arcellx from $121.00 to $130.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Scotiabank increased their target price on Arcellx from $93.00 to $133.00 and gave the stock a “sector outperform” rating in a report on Thursday, July 31st. Cantor Fitzgerald reissued a “neutral” rating and issued a $88.00 price target on shares of Arcellx in a research report on Thursday, October 9th. Finally, Wolfe Research started coverage on shares of Arcellx in a report on Tuesday. They set a “peer perform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $115.50.

Insider Activity at Arcellx

In related news, insider Christopher Heery sold 340 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $90.00, for a total transaction of $30,600.00. Following the transaction, the insider directly owned 284 shares of the company’s stock, valued at $25,560. This trade represents a 54.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 37,486 shares of company stock valued at $3,030,736 in the last three months. Corporate insiders own 8.35% of the company’s stock.

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).