Jacobs Levy Equity Management Inc. Cuts Position in Arcellx, Inc. (NASDAQ:ACLX)

Jacobs Levy Equity Management Inc. lessened its holdings in Arcellx, Inc. (NASDAQ:ACLX) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,584 shares of the company’s stock after selling 1,352 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.15% of Arcellx worth $6,027,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Brevan Howard Capital Management LP purchased a new position in shares of Arcellx in the 4th quarter valued at about $466,000. Bamco Inc. NY increased its stake in shares of Arcellx by 1.6% in the 4th quarter. Bamco Inc. NY now owns 348,333 shares of the company’s stock valued at $26,714,000 after purchasing an additional 5,501 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Arcellx in the 4th quarter valued at about $1,531,000. Algert Global LLC purchased a new position in shares of Arcellx in the 4th quarter valued at about $525,000. Finally, Allostery Investments LP purchased a new position in shares of Arcellx in the 4th quarter valued at about $2,684,000. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Arcellx Price Performance

Shares of Arcellx stock opened at $58.25 on Wednesday. The stock has a market cap of $3.21 billion, a P/E ratio of -82.04 and a beta of 0.34. The stock’s 50 day simple moving average is $64.11 and its 200-day simple moving average is $72.42. Arcellx, Inc. has a 1-year low of $47.86 and a 1-year high of $107.37.

Arcellx (NASDAQ:ACLX) last released its quarterly earnings data on Thursday, May 8th. The company reported ($1.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.29). Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. The business had revenue of $8.13 million during the quarter, compared to analyst estimates of $19.51 million. As a group, research analysts expect that Arcellx, Inc. will post -1.58 EPS for the current fiscal year.

Insider Activity at Arcellx

In other Arcellx news, Director Kavita Patel sold 1,500 shares of the company’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $71.64, for a total transaction of $107,460.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Christopher Heery sold 10,155 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $63.79, for a total value of $647,787.45. Following the transaction, the insider now owns 37,486 shares in the company, valued at $2,391,231.94. This trade represents a 21.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,455 shares of company stock worth $3,407,903. Insiders own 6.24% of the company’s stock.

Analyst Ratings Changes

Separately, Scotiabank cut their price target on Arcellx from $133.00 to $93.00 and set a “sector outperform” rating for the company in a research note on Friday, May 9th. Thirteen research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $109.31.

Arcellx 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).