Arcellx, Inc. (NASDAQ:ACLX) Director Kavita Patel Sells 1,500 Shares

Arcellx, Inc. (NASDAQ:ACLX) Director Kavita Patel sold 1,500 shares of Arcellx stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $63.16, for a total transaction of $94,740.00. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Kavita Patel also recently made the following trade(s):

• On Tuesday, February 4th, Kavita Patel sold 1,500 shares of Arcellx stock. The stock was sold at an average price of $64.57, for a total value of $96,855.00.
• On Tuesday, January 14th, Kavita Patel sold 1,500 shares of Arcellx stock. The stock was sold at an average price of $65.87, for a total transaction of $98,805.00.
• On Tuesday, December 24th, Kavita Patel sold 1,500 shares of Arcellx stock. The shares were sold at an average price of $76.97, for a total value of $115,455.00.
• On Tuesday, December 3rd, Kavita Patel sold 1,500 shares of Arcellx stock. The shares were sold at an average price of $91.88, for a total transaction of $137,820.00.

Arcellx Stock Performance

NASDAQ ACLX opened at $61.39 on Friday. The stock has a market capitalization of $3.32 billion, a PE ratio of -86.46 and a beta of 0.29. The stock has a 50-day simple moving average of $69.01 and a 200 day simple moving average of $77.44. Arcellx, Inc. has a twelve month low of $47.88 and a twelve month high of $107.37.

Arcellx (NASDAQ:ACLX) last posted its quarterly 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). Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. As a group, equities research analysts forecast that Arcellx, Inc. will post -1.58 EPS for the current fiscal year.

Institutional Investors Weigh In On Arcellx

Large investors have recently bought and sold shares of the business. Headlands Technologies LLC bought a new stake in shares of Arcellx during the 4th quarter valued at $41,000. GF Fund Management CO. LTD. acquired a new stake in Arcellx in the fourth quarter valued at $87,000. KBC Group NV lifted its position in shares of Arcellx by 37.3% in the fourth quarter. KBC Group NV now owns 1,388 shares of the company’s stock valued at $106,000 after buying an additional 377 shares during the last quarter. Quarry LP bought a new position in Arcellx during the third quarter worth $125,000. Finally, Quest Partners LLC boosted its holdings in shares of Arcellx by 210.1% during the 3rd quarter. Quest Partners LLC now owns 1,532 shares of the company’s stock worth $128,000 after buying an additional 1,038 shares during the period. 96.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and issued a $105.00 price target on shares of Arcellx in a research report on Monday, December 9th. Truist Financial increased their target price on shares of Arcellx from $87.00 to $136.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Bank of America boosted their price target on shares of Arcellx from $84.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. HC Wainwright reiterated a “buy” rating and set a $115.00 price objective on shares of Arcellx in a report on Tuesday, December 10th. Finally, Morgan Stanley boosted their price target on Arcellx from $81.00 to $106.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. 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 has a consensus rating of “Buy” and an average target price of $105.93.

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).