Arcellx, Inc. (NASDAQ:ACLX) Director Sells $98,805.00 in Stock

Arcellx, Inc. (NASDAQ:ACLX) Director Kavita Patel sold 1,500 shares of the stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $65.87, for a total value of $98,805.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Kavita Patel also recently made the following trade(s):

• On Tuesday, December 24th, Kavita Patel sold 1,500 shares of Arcellx stock. The shares were sold at an average price of $76.97, for a total value of $115,455.00.
• On Tuesday, December 3rd, Kavita Patel sold 1,500 shares of Arcellx stock. The stock was sold at an average price of $91.88, for a total value of $137,820.00.
• On Friday, November 8th, Kavita Patel sold 33,763 shares of Arcellx stock. The shares were sold at an average price of $104.14, for a total transaction of $3,516,078.82.
• On Monday, November 11th, Kavita Patel sold 15,238 shares of Arcellx stock. The shares were sold at an average price of $105.92, for a total transaction of $1,614,008.96.
• On Tuesday, October 22nd, Kavita Patel sold 1,500 shares of Arcellx stock. The shares were sold at an average price of $89.69, for a total transaction of $134,535.00.

Arcellx Stock Performance

Shares of NASDAQ:ACLX opened at $67.01 on Friday. Arcellx, Inc. has a 52-week low of $47.88 and a 52-week high of $107.37. The firm has a market capitalization of $3.62 billion, a P/E ratio of -94.38 and a beta of 0.33. The stock has a 50 day moving average price of $82.89 and a 200-day moving average price of $76.02.

Arcellx (NASDAQ:ACLX) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.48) EPS for the quarter, beating the consensus estimate of ($0.54) by $0.06. The business had revenue of $26.03 million during the quarter, compared to analyst estimates of $35.21 million. Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. On average, equities analysts forecast that Arcellx, Inc. will post -1.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ACLX has been the topic of a number of recent research reports. Morgan Stanley raised their price objective on Arcellx from $81.00 to $106.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. UBS Group lifted their price target on Arcellx from $106.00 to $114.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Barclays raised Arcellx to a “strong-buy” rating in a research note on Friday, November 29th. Piper Sandler lifted their target price on shares of Arcellx from $91.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Finally, Canaccord Genuity Group increased their price target on shares of Arcellx from $85.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Thirteen research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Arcellx currently has a consensus rating of “Buy” and an average price target of $105.93.

Institutional Investors Weigh In On Arcellx

A number of hedge funds and other institutional investors have recently bought and sold shares of ACLX. Quest Partners LLC bought a new stake in shares of Arcellx in the 2nd quarter worth approximately $27,000. Decheng Capital LLC purchased a new position in Arcellx during the second quarter valued at $65,000. Quarry LP purchased a new stake in shares of Arcellx in the third quarter worth $125,000. Covestor Ltd increased its holdings in shares of Arcellx by 53,766.7% during the third quarter. Covestor Ltd now owns 1,616 shares of the company’s stock valued at $135,000 after acquiring an additional 1,613 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Arcellx by 21.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,944 shares of the company’s stock worth $161,000 after purchasing an additional 347 shares during the last quarter. Hedge funds and other institutional investors own 96.03% of the company’s stock.

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).