Michelle Gilson Sells 12,877 Shares of Arcellx, Inc. (NASDAQ:ACLX) Stock

Arcellx, Inc. (NASDAQ:ACLX) CFO Michelle Gilson sold 12,877 shares of the company’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $53.70, for a total transaction of $691,494.90. Following the completion of the sale, the chief financial officer now owns 6,915 shares of the company’s stock, valued at approximately $371,335.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Michelle Gilson also recently made the following trade(s):

• On Friday, May 24th, Michelle Gilson sold 12,121 shares of Arcellx stock. The shares were sold at an average price of $50.71, for a total transaction of $614,655.91.

Arcellx Stock Up 2.0 %

Shares of ACLX opened at $55.19 on Monday. The company has a market capitalization of $2.95 billion, a PE ratio of -53.58 and a beta of 0.23. Arcellx, Inc. has a 52-week low of $30.74 and a 52-week high of $75.10. The company has a 50-day simple moving average of $52.82 and a 200-day simple moving average of $58.33.

Arcellx (NASDAQ:ACLX) last issued its earnings results on Thursday, May 9th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.37. The company had revenue of $39.26 million during the quarter, compared to analysts’ expectations of $20.67 million. Arcellx had a negative net margin of 38.39% and a negative return on equity of 13.11%. The firm’s quarterly revenue was up 119.2% compared to the same quarter last year. During the same period last year, the company posted ($0.58) earnings per share. On average, research analysts anticipate that Arcellx, Inc. will post -1.7 EPS for the current year.

Hedge Funds Weigh In On Arcellx

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Plato Investment Management Ltd acquired a new stake in Arcellx in the first quarter valued at $51,000. Bamco Inc. NY boosted its position in shares of Arcellx by 292.1% in the 1st quarter. Bamco Inc. NY now owns 248,993 shares of the company’s stock worth $17,317,000 after buying an additional 185,493 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Arcellx by 6.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,344,553 shares of the company’s stock valued at $93,514,000 after acquiring an additional 84,373 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in Arcellx by 951.9% during the 1st quarter. Advisors Asset Management Inc. now owns 4,197 shares of the company’s stock valued at $292,000 after acquiring an additional 3,798 shares in the last quarter. Finally, Seven Eight Capital LP acquired a new position in Arcellx during the first quarter worth about $1,207,000. 96.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Stifel Nicolaus raised their price target on Arcellx from $82.00 to $83.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Scotiabank reiterated an “outperform” rating and issued a $82.00 target price on shares of Arcellx in a research note on Thursday, April 4th. Needham & Company LLC restated a “buy” rating and set a $81.00 price target on shares of Arcellx in a research note on Tuesday, May 7th. Morgan Stanley began coverage on Arcellx in a report on Thursday, March 7th. They set an “overweight” rating and a $81.00 price target for the company. Finally, Truist Financial restated a “buy” rating and set a $87.00 price objective on shares of Arcellx in a research report on Tuesday, June 18th. 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 MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $78.00.

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).