Arcellx, Inc. (NASDAQ:ACLX) Insider Christopher Heery Sells 3,553 Shares

Arcellx, Inc. (NASDAQ:ACLX) insider Christopher Heery sold 3,553 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $73.69, for a total value of $261,820.57. Following the sale, the insider now owns 25,085 shares in the company, valued at approximately $1,848,513.65. The trade was a 12.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, January 6th, Christopher Heery sold 3,061 shares of Arcellx stock. The stock was sold at an average price of $77.17, for a total value of $236,217.37.
• On Friday, January 3rd, Christopher Heery sold 3,301 shares of Arcellx stock. The stock was sold at an average price of $79.55, for a total value of $262,594.55.

Arcellx Stock Performance

NASDAQ ACLX traded down $3.18 on Friday, hitting $69.08. 1,602,596 shares of the stock traded hands, compared to its average volume of 805,499. The business’s fifty day moving average is $85.21 and its two-hundred day moving average is $75.59. Arcellx, Inc. has a 12 month low of $47.88 and a 12 month high of $107.37. The firm has a market capitalization of $3.74 billion, a price-to-earnings ratio of -97.29 and a beta of 0.33.

Arcellx (NASDAQ:ACLX) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.48) earnings per share for the quarter, beating 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 analyst estimates of $35.21 million. Analysts expect that Arcellx, Inc. will post -1.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Arcellx

Several institutional investors and hedge funds have recently bought and sold shares of ACLX. Principal Financial Group Inc. grew its holdings in Arcellx by 1.4% during the second quarter. Principal Financial Group Inc. now owns 37,352 shares of the company’s stock valued at $2,061,000 after purchasing an additional 517 shares during the period. Rhumbline Advisers boosted its holdings in shares of Arcellx by 14.3% in the second quarter. Rhumbline Advisers now owns 60,570 shares of the company’s stock worth $3,343,000 after acquiring an additional 7,568 shares during the period. National Bank of Canada FI boosted its holdings in shares of Arcellx by 50.0% in the second quarter. National Bank of Canada FI now owns 1,500 shares of the company’s stock worth $80,000 after acquiring an additional 500 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Arcellx by 20.4% in the second quarter. Victory Capital Management Inc. now owns 283,872 shares of the company’s stock worth $15,667,000 after acquiring an additional 48,006 shares during the period. Finally, Arizona State Retirement System boosted its holdings in shares of Arcellx by 14.0% in the second quarter. Arizona State Retirement System now owns 8,950 shares of the company’s stock worth $494,000 after acquiring an additional 1,101 shares during the period. 96.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ACLX has been the topic of several recent research reports. Truist Financial increased their price target on Arcellx from $87.00 to $136.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Stifel Nicolaus increased their price objective on Arcellx from $83.00 to $122.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Barclays raised Arcellx to a “strong-buy” rating in a research note on Friday, November 29th. HC Wainwright reissued a “buy” rating and issued a $115.00 price objective on shares of Arcellx in a research note on Tuesday, December 10th. Finally, UBS Group increased their price objective on Arcellx from $106.00 to $114.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Thirteen investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Arcellx has an average rating of “Buy” and a consensus target price of $105.93.

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).