Gotham Asset Management LLC Cuts Position in Arcellx, Inc. (NASDAQ:ACLX)

Gotham Asset Management LLC lowered its holdings in shares of Arcellx, Inc. (NASDAQ:ACLX) by 19.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,508 shares of the company’s stock after selling 2,493 shares during the quarter. Gotham Asset Management LLC’s holdings in Arcellx were worth $806,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Xponance Inc. lifted its position in shares of Arcellx by 8.6% during the 4th quarter. Xponance Inc. now owns 3,088 shares of the company’s stock valued at $237,000 after buying an additional 244 shares in the last quarter. KBC Group NV raised its position in Arcellx by 37.3% during the fourth quarter. KBC Group NV now owns 1,388 shares of the company’s stock worth $106,000 after acquiring an additional 377 shares during the period. Swiss National Bank lifted its holdings in Arcellx by 0.8% during the fourth quarter. Swiss National Bank now owns 63,400 shares of the company’s stock valued at $4,862,000 after purchasing an additional 500 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Arcellx in the fourth quarter valued at about $41,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Arcellx by 9.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,836 shares of the company’s stock valued at $754,000 after purchasing an additional 858 shares during the period. 96.03% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Arcellx news, insider Rami Elghandour sold 38,300 shares of the business’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 transaction, the insider now directly owns 149,186 shares in the company, valued at $9,252,515.72. The trade was a 20.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Christopher Heery sold 10,155 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $63.79, for a total transaction of $647,787.45. Following the completion of the sale, the insider now directly owns 37,486 shares of the company’s stock, valued at approximately $2,391,231.94. This trade represents a 21.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,455 shares of company stock valued at $3,407,903 in the last three months. 6.24% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, Scotiabank reduced their price target on shares of Arcellx from $133.00 to $93.00 and set a “sector outperform” rating for the company in a research report on Friday, May 9th. Thirteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $111.33.

Arcellx Trading Up 0.6%

ACLX stock opened at $58.78 on Monday. The firm has a 50-day moving average of $63.20 and a two-hundred day moving average of $71.66. Arcellx, Inc. has a 12 month low of $47.86 and a 12 month high of $107.37. The company has a market cap of $3.24 billion, a price-to-earnings ratio of -82.79 and a beta of 0.34.

Arcellx (NASDAQ:ACLX) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($1.13) EPS for the quarter, missing the consensus estimate of ($0.84) by ($0.29). The company had revenue of $8.13 million during the quarter, compared to analyst estimates of $19.51 million. Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. As a group, equities analysts forecast that Arcellx, Inc. will post -1.58 earnings per share for the current year.

About Arcellx

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).