Christopher Heery Sells 41,365 Shares of Arcellx, Inc. (NASDAQ:ACLX) Stock

Arcellx, Inc. (NASDAQ:ACLX) insider Christopher Heery sold 41,365 shares of the business’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $70.18, for a total transaction of $2,902,995.70. Following the transaction, the insider now owns 8,938 shares of the company’s stock, valued at approximately $627,268.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Tuesday, March 26th, Christopher Heery sold 5,450 shares of Arcellx stock. The stock was sold at an average price of $69.11, for a total transaction of $376,649.50.
• On Monday, February 12th, Christopher Heery sold 2,967 shares of Arcellx stock. The stock was sold at an average price of $64.46, for a total transaction of $191,252.82.
• On Thursday, February 8th, Christopher Heery sold 3,456 shares of Arcellx stock. The stock was sold at an average price of $62.29, for a total transaction of $215,274.24.
• On Thursday, January 4th, Christopher Heery sold 7,598 shares of Arcellx stock. The shares were sold at an average price of $55.27, for a total transaction of $419,941.46.

Arcellx Stock Down 1.3 %

NASDAQ ACLX opened at $69.55 on Friday. The stock has a market capitalization of $3.67 billion, a P/E ratio of -47.31 and a beta of 0.02. Arcellx, Inc. has a 52-week low of $27.28 and a 52-week high of $75.10. The firm has a 50-day moving average price of $65.52 and a 200 day moving average price of $52.15.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Perceptive Advisors LLC increased its holdings in Arcellx by 14.6% in the fourth quarter. Perceptive Advisors LLC now owns 4,544,809 shares of the company’s stock valued at $252,237,000 after buying an additional 578,831 shares in the last quarter. Novo Holdings A S purchased a new position in Arcellx in the first quarter valued at about $56,317,000. Suvretta Capital Management LLC increased its holdings in Arcellx by 18.8% in the second quarter. Suvretta Capital Management LLC now owns 2,848,167 shares of the company’s stock valued at $90,059,000 after buying an additional 449,846 shares in the last quarter. BlackRock Inc. increased its holdings in Arcellx by 17.1% in the second quarter. BlackRock Inc. now owns 2,602,485 shares of the company’s stock valued at $82,291,000 after buying an additional 380,128 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Arcellx by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 2,061,819 shares of the company’s stock valued at $114,431,000 after buying an additional 23,262 shares in the last quarter. 96.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on ACLX. Stifel Nicolaus restated a “buy” rating and issued a $82.00 price objective on shares of Arcellx in a research note on Thursday, March 14th. HC Wainwright upped their price objective on shares of Arcellx from $60.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Scotiabank upped their price objective on shares of Arcellx to $82.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Barclays upped their price objective on shares of Arcellx from $62.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Finally, Morgan Stanley started coverage on shares of Arcellx in a research note on Thursday, March 7th. They set an “overweight” rating and a $81.00 target price for the company. Thirteen research analysts have rated the stock with a buy rating, According to MarketBeat, Arcellx has an average rating of “Buy” and a consensus price target of $69.14.

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).