Franklin Resources Inc. Cuts Stock Position in Arcellx, Inc. (NASDAQ:ACLX)

Franklin Resources Inc. cut its stake in shares of Arcellx, Inc. (NASDAQ:ACLX) by 7.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 52,297 shares of the company’s stock after selling 4,456 shares during the period. Franklin Resources Inc.’s holdings in Arcellx were worth $4,011,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Xponance Inc. increased its stake in shares of Arcellx by 8.6% during the fourth quarter. Xponance Inc. now owns 3,088 shares of the company’s stock worth $237,000 after purchasing an additional 244 shares in the last quarter. KBC Group NV boosted its holdings in Arcellx by 37.3% in the 4th quarter. KBC Group NV now owns 1,388 shares of the company’s stock worth $106,000 after buying an additional 377 shares during the last quarter. Swiss National Bank increased its stake in Arcellx by 0.8% during the 4th quarter. Swiss National Bank now owns 63,400 shares of the company’s stock worth $4,862,000 after buying an additional 500 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Arcellx by 9.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,836 shares of the company’s stock valued at $754,000 after acquiring an additional 858 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Arcellx by 1.9% in the fourth quarter. Rhumbline Advisers now owns 59,903 shares of the company’s stock valued at $4,594,000 after acquiring an additional 1,125 shares in the last quarter. 96.03% of the stock is owned by hedge funds and other institutional investors.

Arcellx Price Performance

Shares of NASDAQ:ACLX opened at $59.15 on Friday. Arcellx, Inc. has a 1 year low of $47.88 and a 1 year high of $107.37. The firm has a market capitalization of $3.25 billion, a PE ratio of -83.31 and a beta of 0.33. The business’s 50 day moving average price is $65.61 and its 200-day moving average price is $76.14.

Arcellx (NASDAQ:ACLX) last announced its earnings results on Thursday, February 27th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.24). The business had revenue of $15.27 million for the quarter, compared to analyst estimates of $27.42 million. Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. As a group, analysts expect that Arcellx, Inc. will post -1.58 earnings per share for the current year.

Insider Activity at Arcellx

In other Arcellx news, insider Christopher Heery sold 10,155 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $63.79, for a total transaction of $647,787.45. Following the transaction, the insider now owns 37,486 shares of the company’s stock, valued at approximately $2,391,231.94. The trade was a 21.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kavita Patel sold 1,500 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $64.57, for a total value of $96,855.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,955 shares of company stock valued at $3,507,263. Corporate insiders own 6.24% 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).