China Universal Asset Management Co. Ltd. Sells 445 Shares of Arcellx, Inc. (NASDAQ:ACLX)

China Universal Asset Management Co. Ltd. lessened its holdings in Arcellx, Inc. (NASDAQ:ACLX) by 3.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,021 shares of the company’s stock after selling 445 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Arcellx were worth $723,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ACLX. FMR LLC boosted its stake in Arcellx by 22.8% during the 4th quarter. FMR LLC now owns 7,956,633 shares of the company’s stock worth $610,194,000 after acquiring an additional 1,477,360 shares during the last quarter. Gilead Sciences Inc. bought a new position in Arcellx during the 4th quarter worth approximately $515,418,000. Vanguard Group Inc. boosted its stake in Arcellx by 35.3% during the 4th quarter. Vanguard Group Inc. now owns 3,330,092 shares of the company’s stock worth $255,385,000 after acquiring an additional 867,996 shares during the last quarter. RA Capital Management L.P. boosted its stake in Arcellx by 50.5% during the 4th quarter. RA Capital Management L.P. now owns 2,787,327 shares of the company’s stock worth $213,760,000 after acquiring an additional 935,848 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Arcellx by 11.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,121,322 shares of the company’s stock worth $162,685,000 after acquiring an additional 220,711 shares during the last quarter. Institutional investors own 96.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. HC Wainwright reissued a “buy” rating and set a $115.00 price objective on shares of Arcellx in a research note on Monday, June 16th. Citigroup assumed coverage on shares of Arcellx in a research note on Tuesday, June 17th. They set a “buy” rating and a $110.00 price objective on the stock. Finally, Scotiabank dropped their target price on shares of Arcellx from $133.00 to $93.00 and set a “sector outperform” rating on the stock in a report on Friday, May 9th. Fourteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $111.23.

Insider Activity

In other news, Director Kavita Patel sold 1,500 shares of the business’s stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $67.36, for a total value of $101,040.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 4,500 shares of company stock valued at $284,985 over the last three months. Insiders own 8.35% of the company’s stock.

Arcellx Stock Up 1.5%

NASDAQ ACLX opened at $66.56 on Wednesday. The company has a market capitalization of $3.67 billion, a PE ratio of -22.26 and a beta of 0.28. Arcellx, Inc. has a 12-month low of $47.86 and a 12-month high of $107.37. The firm’s 50 day moving average is $63.28 and its 200-day moving average is $65.64.

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 return on equity of 35.27% and a negative net margin of 211.46%. The company had revenue of $8.13 million for the quarter, compared to the consensus estimate of $19.51 million. As a group, sell-side analysts expect that Arcellx, Inc. will post -1.58 EPS for the current year.

About Arcellx

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).