Insider Selling: Arcellx, Inc. (NASDAQ:ACLX) Director Sells 9,402 Shares of Stock

Arcellx, Inc. (NASDAQ:ACLX) Director Olivia C. Ware sold 9,402 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $55.55, for a total transaction of $522,281.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Olivia C. Ware also recently made the following trade(s):

• On Friday, March 15th, Olivia C. Ware sold 9,000 shares of Arcellx stock. The stock was sold at an average price of $70.40, for a total transaction of $633,600.00.

Arcellx Price Performance

Shares of ACLX stock traded up $0.95 during trading hours on Thursday, hitting $54.50. The stock had a trading volume of 600,782 shares, compared to its average volume of 450,100. Arcellx, Inc. has a twelve month low of $30.74 and a twelve month high of $75.10. The stock’s 50 day moving average is $65.37 and its 200 day moving average is $54.84.

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

Institutional Investors Weigh In On Arcellx

Several large investors have recently modified their holdings of ACLX. Novo Holdings A S acquired a new stake in shares of Arcellx in the first quarter valued at approximately $56,317,000. State Street Corp lifted its holdings in shares of Arcellx by 761.1% during the third quarter. State Street Corp now owns 1,514,025 shares of the company’s stock worth $28,418,000 after purchasing an additional 1,338,208 shares during the period. Perceptive Advisors LLC lifted its holdings in shares of Arcellx by 47.9% during the first quarter. Perceptive Advisors LLC now owns 3,841,739 shares of the company’s stock worth $118,364,000 after purchasing an additional 1,243,434 shares during the period. BlackRock Inc. lifted its holdings in shares of Arcellx by 199.8% during the third quarter. BlackRock Inc. now owns 1,806,103 shares of the company’s stock worth $33,902,000 after purchasing an additional 1,203,592 shares during the period. Finally, FMR LLC lifted its holdings in shares of Arcellx by 4,797,730.8% during the second quarter. FMR LLC now owns 623,718 shares of the company’s stock worth $11,277,000 after purchasing an additional 623,705 shares during the period. 96.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Stifel Nicolaus restated a “buy” rating and set a $82.00 target price on shares of Arcellx in a research note on Thursday, March 14th. Needham & Company LLC reiterated a “buy” rating and issued a $81.00 price target on shares of Arcellx in a research note on Thursday, April 11th. Scotiabank reiterated an “outperform” rating and issued a $82.00 price target on shares of Arcellx in a research note on Thursday, April 4th. Robert W. Baird increased their price target on shares of Arcellx from $63.00 to $77.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Finally, Morgan Stanley assumed coverage on shares of Arcellx in a research note on Thursday, March 7th. They issued an “overweight” rating and a $81.00 price target on the stock. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $74.17.

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).