Arcellx, Inc. (NASDAQ:ACLX) Insider Christopher Heery Sells 18,168 Shares

Arcellx, Inc. (NASDAQ:ACLX) insider Christopher Heery sold 18,168 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $51.33, for a total transaction of $932,563.44. Following the transaction, the insider now directly owns 8,938 shares of the company’s stock, valued at $458,787.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Christopher Heery also recently made the following trade(s):

• On Friday, March 22nd, Christopher Heery sold 41,365 shares of Arcellx stock. The shares were sold at an average price of $70.18, for a total value of $2,902,995.70.
• On Tuesday, March 26th, Christopher Heery sold 5,450 shares of Arcellx stock. The stock was sold at an average price of $69.11, for a total value of $376,649.50.
• On Monday, February 12th, Christopher Heery sold 2,967 shares of Arcellx stock. The stock was sold at an average price of $64.46, for a total value of $191,252.82.
• On Thursday, February 8th, Christopher Heery sold 3,456 shares of Arcellx stock. The shares were sold at an average price of $62.29, for a total transaction of $215,274.24.

Arcellx Price Performance

NASDAQ ACLX traded down $0.60 during trading hours on Friday, hitting $52.69. The company’s stock had a trading volume of 397,791 shares, compared to its average volume of 450,696. The company’s 50 day simple moving average is $63.21 and its two-hundred day simple moving average is $56.04. Arcellx, Inc. has a 12 month low of $30.74 and a 12 month high of $75.10.

Arcellx (NASDAQ:ACLX) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.95. The company had revenue of $63.15 million for the quarter, compared to the consensus estimate of $20.07 million. Arcellx had a negative net margin of 64.08% and a negative return on equity of 20.96%. During the same quarter in the prior year, the firm earned ($0.76) earnings per share. On average, sell-side analysts forecast that Arcellx, Inc. will post -1.69 EPS for the current year.

Institutional Investors Weigh In On Arcellx

Hedge funds have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. lifted its position in Arcellx by 98.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,248 shares of the company’s stock valued at $45,000 after purchasing an additional 619 shares in the last quarter. Simplicity Wealth LLC bought a new position in shares of Arcellx in the first quarter worth about $232,000. Exchange Traded Concepts LLC lifted its position in shares of Arcellx by 34.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 4,241 shares of the company’s stock valued at $235,000 after buying an additional 1,076 shares in the last quarter. Amalgamated Bank grew its stake in shares of Arcellx by 5.6% during the 3rd quarter. Amalgamated Bank now owns 5,772 shares of the company’s stock valued at $207,000 after acquiring an additional 308 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Arcellx by 36.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,405 shares of the company’s stock worth $355,000 after acquiring an additional 1,701 shares in the last quarter. Institutional investors own 96.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ACLX shares. HC Wainwright lifted their target price on shares of Arcellx from $60.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Barclays upped their target price on Arcellx from $62.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Truist Financial lifted their price target on Arcellx from $57.00 to $87.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Scotiabank reiterated an “outperform” rating and issued a $82.00 price objective on shares of Arcellx in a report on Thursday, April 4th. Finally, Morgan Stanley assumed coverage on shares of Arcellx in a report on Thursday, March 7th. They set an “overweight” rating and a $81.00 target price on the stock. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Arcellx currently has a consensus rating of “Buy” and a consensus target price of $75.64.

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).