Arcellx, Inc. (NASDAQ:ACLX) Director Kavita Patel Sells 33,763 Shares

Arcellx, Inc. (NASDAQ:ACLX) Director Kavita Patel sold 33,763 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $104.14, for a total transaction of $3,516,078.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, November 11th, Kavita Patel sold 15,238 shares of Arcellx stock. The stock was sold at an average price of $105.92, for a total value of $1,614,008.96.
• On Tuesday, October 22nd, Kavita Patel sold 1,500 shares of Arcellx stock. The stock was sold at an average price of $89.69, for a total transaction of $134,535.00.
• On Tuesday, September 10th, Kavita Patel sold 1,500 shares of Arcellx stock. The shares were sold at an average price of $74.41, for a total value of $111,615.00.

Arcellx Trading Down 0.3 %

NASDAQ ACLX opened at $100.14 on Thursday. The company has a 50-day moving average price of $85.14 and a two-hundred day moving average price of $67.07. Arcellx, Inc. has a 52 week low of $45.68 and a 52 week high of $107.37. The stock has a market cap of $5.42 billion, a price-to-earnings ratio of -141.04 and a beta of 0.27.

Arcellx (NASDAQ:ACLX) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.54) by $0.06. Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. The business had revenue of $26.03 million during the quarter, compared to the consensus estimate of $35.21 million. As a group, equities research analysts expect that Arcellx, Inc. will post -1.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD raised its stake in shares of Arcellx by 6.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,344,553 shares of the company’s stock valued at $93,514,000 after purchasing an additional 84,373 shares in the last quarter. Seven Eight Capital LP bought a new stake in shares of Arcellx during the 1st quarter worth about $1,207,000. Bamco Inc. NY lifted its stake in shares of Arcellx by 292.1% in the 1st quarter. Bamco Inc. NY now owns 248,993 shares of the company’s stock worth $17,317,000 after acquiring an additional 185,493 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in shares of Arcellx by 37.0% in the third quarter. Harbor Capital Advisors Inc. now owns 27,896 shares of the company’s stock valued at $2,330,000 after acquiring an additional 7,534 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Arcellx in the second quarter valued at approximately $1,494,000. Institutional investors own 96.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ACLX shares. Canaccord Genuity Group increased their price target on shares of Arcellx from $85.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. HC Wainwright boosted their price target on Arcellx from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Cantor Fitzgerald restated an “overweight” rating on shares of Arcellx in a report on Monday, September 9th. Stifel Nicolaus boosted their target price on Arcellx from $83.00 to $122.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Morgan Stanley raised their price target on shares of Arcellx from $81.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Thirteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $103.08.

Arcellx Company 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).