Kavita Patel Sells 1,500 Shares of Arcellx, Inc. (NASDAQ:ACLX) Stock

Arcellx, Inc. (NASDAQ:ACLX) Director Kavita Patel sold 1,500 shares of the stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $57.50, for a total transaction of $86,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Tuesday, March 18th, Kavita Patel sold 1,500 shares of Arcellx stock. The shares were sold at an average price of $71.64, for a total transaction of $107,460.00.
• On Tuesday, February 25th, Kavita Patel sold 1,500 shares of Arcellx stock. The shares were sold at an average price of $63.16, for a total transaction of $94,740.00.
• On Tuesday, February 4th, Kavita Patel sold 1,500 shares of Arcellx stock. The shares were sold at an average price of $64.57, for a total transaction of $96,855.00.
• On Tuesday, January 14th, Kavita Patel sold 1,500 shares of Arcellx stock. The stock was sold at an average price of $65.87, for a total transaction of $98,805.00.

Arcellx Stock Up 10.4 %

Shares of ACLX stock opened at $59.16 on Thursday. The company has a 50 day moving average of $65.77 and a 200-day moving average of $76.33. Arcellx, Inc. has a 12-month low of $47.88 and a 12-month high of $107.37. The firm has a market cap of $3.25 billion, a P/E ratio of -83.32 and a beta of 0.33.

Arcellx (NASDAQ:ACLX) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.24). Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. The company had revenue of $15.27 million for the quarter, compared to analysts’ expectations of $27.42 million. As a group, equities analysts expect that Arcellx, Inc. will post -1.58 EPS for the current year.

Institutional Investors Weigh In On Arcellx

Large investors have recently modified their holdings of the stock. Headlands Technologies LLC purchased a new position in Arcellx in the 4th quarter valued at approximately $41,000. GF Fund Management CO. LTD. purchased a new position in Arcellx in the 4th quarter valued at approximately $87,000. KBC Group NV grew its stake in Arcellx by 37.3% in the 4th quarter. KBC Group NV now owns 1,388 shares of the company’s stock valued at $106,000 after buying an additional 377 shares in the last quarter. Avanza Fonder AB purchased a new position in Arcellx in the 4th quarter valued at approximately $184,000. Finally, Kazazian Asset Management LLC purchased a new position in Arcellx in the 4th quarter valued at approximately $204,000. Hedge funds and other institutional investors own 96.03% of the company’s stock.

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).