Arcellx, Inc. (NASDAQ:ACLX) Shares Sold by Eagle Asset Management Inc.

Eagle Asset Management Inc. cut its holdings in Arcellx, Inc. (NASDAQ:ACLX) by 35.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 122,329 shares of the company’s stock after selling 68,275 shares during the period. Eagle Asset Management Inc. owned about 0.23% of Arcellx worth $10,216,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quest Partners LLC acquired a new position in Arcellx in the second quarter valued at approximately $27,000. Plato Investment Management Ltd bought a new stake in Arcellx in the first quarter valued at $51,000. Decheng Capital LLC acquired a new position in shares of Arcellx during the second quarter valued at $65,000. National Bank of Canada FI increased its holdings in shares of Arcellx by 50.0% in the 2nd quarter. National Bank of Canada FI now owns 1,500 shares of the company’s stock worth $80,000 after acquiring an additional 500 shares during the period. Finally, Covestor Ltd lifted its position in Arcellx by 53,766.7% in the 3rd quarter. Covestor Ltd now owns 1,616 shares of the company’s stock valued at $135,000 after purchasing an additional 1,613 shares during the last quarter. 96.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on ACLX shares. Canaccord Genuity Group upped their target price on shares of Arcellx from $85.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Bank of America lifted their target price on Arcellx from $84.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Stifel Nicolaus increased their price target on Arcellx from $83.00 to $122.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Morgan Stanley lifted their price objective on shares of Arcellx from $81.00 to $106.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Finally, Redburn Atlantic assumed coverage on shares of Arcellx in a research report on Tuesday, October 8th. They issued a “buy” rating and a $109.00 target price for the company. Thirteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $103.08.

Arcellx Stock Performance

Shares of NASDAQ:ACLX opened at $90.44 on Friday. The company has a market capitalization of $4.89 billion, a PE ratio of -127.38 and a beta of 0.27. The stock has a fifty day moving average of $87.29 and a 200-day moving average of $68.77. Arcellx, Inc. has a one year low of $46.42 and a one year high of $107.37.

Arcellx (NASDAQ:ACLX) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.48) EPS for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.06. The company had revenue of $26.03 million during the quarter, compared to analyst estimates of $35.21 million. Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. As a group, research analysts forecast that Arcellx, Inc. will post -1.49 EPS for the current fiscal year.

Insider Activity

In other Arcellx news, insider Christopher Heery sold 21,684 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $71.12, for a total value of $1,542,166.08. Following the completion of the sale, the insider now directly owns 9,278 shares of the company’s stock, valued at $659,851.36. The trade was a 70.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kavita Patel sold 33,763 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $104.14, for a total value of $3,516,078.82. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 119,557 shares of company stock worth $10,163,933. 6.24% of the stock is owned by corporate insiders.

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).