E Fund Management Co. Ltd. Trims Stock Holdings in Arcellx, Inc. (NASDAQ:ACLX)

E Fund Management Co. Ltd. trimmed its position in Arcellx, Inc. (NASDAQ:ACLX) by 26.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 6,012 shares of the company’s stock after selling 2,144 shares during the period. E Fund Management Co. Ltd.’s holdings in Arcellx were worth $334,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. grew its stake in Arcellx by 98.4% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,248 shares of the company’s stock worth $45,000 after purchasing an additional 619 shares during the period. Amalgamated Bank boosted its holdings in Arcellx by 5.6% in the third quarter. Amalgamated Bank now owns 5,772 shares of the company’s stock worth $207,000 after acquiring an additional 308 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in Arcellx by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 4,241 shares of the company’s stock worth $235,000 after acquiring an additional 1,076 shares in the last quarter. Corton Capital Inc. bought a new stake in Arcellx in the third quarter worth $270,000. Finally, Arizona State Retirement System boosted its holdings in Arcellx by 22.0% in the third quarter. Arizona State Retirement System now owns 8,199 shares of the company’s stock worth $294,000 after acquiring an additional 1,480 shares in the last quarter. 96.03% of the stock is owned by hedge funds and other institutional investors.

Arcellx Price Performance

Arcellx stock traded up $0.48 during mid-day trading on Thursday, reaching $52.73. 377,239 shares of the stock traded hands, compared to its average volume of 447,280. The stock has a market capitalization of $2.81 billion, a PE ratio of -35.69 and a beta of 0.24. Arcellx, Inc. has a 12-month low of $30.74 and a 12-month high of $75.10. The business’s 50-day moving average is $62.18 and its 200-day moving average is $56.72.

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

Analyst Ratings Changes

Several equities research analysts have commented on ACLX shares. Needham & Company LLC reissued a “buy” rating and issued a $81.00 target price on shares of Arcellx in a report on Tuesday. Morgan Stanley started coverage on Arcellx in a report on Thursday, March 7th. They issued an “overweight” rating and a $81.00 target price on the stock. Stifel Nicolaus reissued a “buy” rating and issued a $82.00 target price on shares of Arcellx in a report on Thursday, March 14th. Canaccord Genuity Group upped their price target on Arcellx from $66.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Finally, Robert W. Baird upped their price target on Arcellx from $63.00 to $77.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $75.64.

Insider Activity at Arcellx

In related news, Director Jill Carroll sold 504,263 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $70.55, for a total transaction of $35,575,754.65. Following the completion of the sale, the director now owns 1,479,148 shares in the company, valued at $104,353,891.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Arcellx news, Director Jill Carroll sold 504,263 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $70.55, for a total value of $35,575,754.65. Following the completion of the sale, the director now owns 1,479,148 shares in the company, valued at $104,353,891.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Olivia C. Ware sold 9,000 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $70.40, for a total value of $633,600.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 620,526 shares of company stock worth $43,157,182. 6.24% of the stock is owned by insiders.

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).