Vestal Point Capital LP Cuts Holdings in Arcellx, Inc. (NASDAQ:ACLX)

Vestal Point Capital LP lessened its position in shares of Arcellx, Inc. (NASDAQ:ACLX) by 29.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 475,000 shares of the company’s stock after selling 200,000 shares during the period. Arcellx makes up 2.2% of Vestal Point Capital LP’s portfolio, making the stock its 17th biggest position. Vestal Point Capital LP’s holdings in Arcellx were worth $36,428,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new stake in shares of Arcellx during the 4th quarter worth about $41,000. KBC Group NV lifted its position in Arcellx by 37.3% during the fourth 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 stake in Arcellx during the fourth quarter worth approximately $184,000. Kazazian Asset Management LLC acquired a new stake in shares of Arcellx in the fourth quarter worth $204,000. Finally, Landscape Capital Management L.L.C. purchased a new position in shares of Arcellx in the 4th quarter valued at $214,000. 96.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Scotiabank lowered their price target on Arcellx from $133.00 to $93.00 and set a “sector outperform” rating for the company in a report on Friday, May 9th. Thirteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $111.33.

Arcellx Price Performance

Shares of ACLX stock opened at $58.78 on Monday. The company’s fifty day moving average price is $63.20 and its two-hundred day moving average price is $71.66. The firm has a market capitalization of $3.24 billion, a P/E ratio of -82.79 and a beta of 0.34. Arcellx, Inc. has a 12 month low of $47.86 and a 12 month high of $107.37.

Arcellx (NASDAQ:ACLX) last announced its earnings results on Thursday, May 8th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.29). The business had revenue of $8.13 million for the quarter, compared to analysts’ expectations of $19.51 million. Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. On average, sell-side analysts anticipate that Arcellx, Inc. will post -1.58 EPS for the current year.

Insiders Place Their Bets

In other news, insider Rami Elghandour sold 38,300 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $62.02, for a total transaction of $2,375,366.00. Following the completion of the sale, the insider now owns 149,186 shares of the company’s stock, valued at approximately $9,252,515.72. This trade represents a 20.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher Heery sold 10,155 shares of Arcellx stock in a transaction on Monday, February 24th. The stock was sold at an average price of $63.79, for a total transaction of $647,787.45. Following the completion of the sale, the insider now owns 37,486 shares of the company’s stock, valued at approximately $2,391,231.94. This trade represents a 21.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,455 shares of company stock worth $3,407,903 in the last three months. 6.24% of the stock is owned by insiders.

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).