Christopher Heery Sells 10,155 Shares of Arcellx, Inc. (NASDAQ:ACLX) Stock

Arcellx, Inc. (NASDAQ:ACLX) insider Christopher Heery sold 10,155 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $63.79, for a total transaction of $647,787.45. Following the completion of the transaction, the insider now owns 37,486 shares of the company’s stock, valued at $2,391,231.94. This trade represents a 21.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Wednesday, January 8th, Christopher Heery sold 3,553 shares of Arcellx stock. The stock was sold at an average price of $73.69, for a total transaction of $261,820.57.
• On Monday, January 6th, Christopher Heery sold 3,061 shares of Arcellx stock. The shares were sold at an average price of $77.17, for a total transaction 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 Trading Down 0.6 %

Shares of NASDAQ:ACLX opened at $62.65 on Wednesday. The stock has a market capitalization of $3.39 billion, a P/E ratio of -88.24 and a beta of 0.29. The stock’s 50-day moving average price is $69.31 and its 200-day moving average price is $77.56. Arcellx, Inc. has a 12-month low of $47.88 and a 12-month high of $107.37.

Analysts Set New Price Targets

ACLX has been the topic of a number of research analyst reports. Needham & Company LLC restated a “buy” rating and issued a $105.00 target price on shares of Arcellx in a research note on Monday, December 9th. Bank of America upped their price objective on shares of Arcellx from $84.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Piper Sandler lifted their target price on shares of Arcellx from $91.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Barclays upgraded shares of Arcellx to a “strong-buy” rating in a research report on Friday, November 29th. Finally, HC Wainwright reiterated a “buy” rating and issued a $115.00 target price on shares of Arcellx in a research report on Tuesday, December 10th. Thirteen equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Arcellx has a consensus rating of “Buy” and a consensus price target of $105.93.

Institutional Investors Weigh In On Arcellx

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

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).