Paradigm Biocapital Advisors LP Sells 428,399 Shares of Arcellx, Inc. (NASDAQ:ACLX)

Paradigm Biocapital Advisors LP reduced its stake in shares of Arcellx, Inc. (NASDAQ:ACLX) by 8.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,371,601 shares of the company’s stock after selling 428,399 shares during the period. Arcellx makes up approximately 11.7% of Paradigm Biocapital Advisors LP’s holdings, making the stock its 2nd biggest holding. Paradigm Biocapital Advisors LP owned about 0.08% of Arcellx worth $335,258,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Xponance Inc. boosted its stake in shares of Arcellx by 8.6% during the 4th quarter. Xponance Inc. now owns 3,088 shares of the company’s stock worth $237,000 after buying an additional 244 shares during the last quarter. KBC Group NV boosted its stake in Arcellx by 37.3% in the 4th quarter. KBC Group NV now owns 1,388 shares of the company’s stock valued at $106,000 after purchasing an additional 377 shares during the period. Swiss National Bank grew its stake in shares of Arcellx by 0.8% in the fourth quarter. Swiss National Bank now owns 63,400 shares of the company’s stock valued at $4,862,000 after acquiring an additional 500 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Arcellx during the fourth quarter worth approximately $41,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Arcellx by 9.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,836 shares of the company’s stock worth $754,000 after purchasing an additional 858 shares in the last quarter. 96.03% of the stock is owned by institutional investors.

Arcellx Stock Performance

Shares of Arcellx stock opened at $58.25 on Wednesday. Arcellx, Inc. has a 52-week low of $47.86 and a 52-week high of $107.37. The company has a fifty day moving average of $64.11 and a 200-day moving average of $72.42. The stock has a market capitalization of $3.21 billion, a price-to-earnings ratio of -82.04 and a beta of 0.34.

Arcellx (NASDAQ:ACLX) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $19.51 million. On average, equities research analysts forecast that Arcellx, Inc. will post -1.58 earnings per share for the current fiscal year.

Insider Activity at Arcellx

In other Arcellx news, insider Rami Elghandour sold 38,300 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $62.02, for a total transaction of $2,375,366.00. Following the completion of the sale, 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 this hyperlink. Also, insider Christopher Heery sold 10,155 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now owns 37,486 shares in the company, valued at $2,391,231.94. The trade was a 21.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,455 shares of company stock valued at $3,407,903 in the last 90 days. Corporate insiders own 6.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Scotiabank decreased their price target on Arcellx from $133.00 to $93.00 and set a “sector outperform” rating on the stock in a research note on Friday, May 9th. Thirteen equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $109.31.

Arcellx 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).