Insider Selling: Arcellx, Inc. (NASDAQ:ACLX) Insider Sells 21,684 Shares of Stock

Arcellx, Inc. (NASDAQ:ACLX) insider Christopher Heery sold 21,684 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $71.12, for a total transaction 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 sale was disclosed in a filing with the SEC, which is accessible through this link.

Christopher Heery also recently made the following trade(s):

• On Tuesday, July 16th, Christopher Heery sold 10,901 shares of Arcellx stock. The stock was sold at an average price of $65.30, for a total value of $711,835.30.
• On Thursday, July 11th, Christopher Heery sold 3,671 shares of Arcellx stock. The shares were sold at an average price of $60.01, for a total value of $220,296.71.
• On Monday, July 1st, Christopher Heery sold 20,000 shares of Arcellx stock. The stock was sold at an average price of $55.39, for a total value of $1,107,800.00.
• On Wednesday, June 12th, Christopher Heery sold 20,000 shares of Arcellx stock. The shares were sold at an average price of $55.13, for a total value of $1,102,600.00.

Arcellx Stock Up 1.9 %

Shares of ACLX opened at $68.74 on Friday. Arcellx, Inc. has a twelve month low of $30.88 and a twelve month high of $75.10. The stock has a market cap of $3.68 billion, a PE ratio of -66.74 and a beta of 0.23. The business’s 50-day moving average price is $60.57 and its 200-day moving average price is $59.59.

Arcellx (NASDAQ:ACLX) last posted its earnings results on Thursday, August 8th. The company reported ($0.51) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.01. Arcellx had a negative net margin of 38.39% and a negative return on equity of 13.11%. The business had revenue of $27.38 million for the quarter, compared to analyst estimates of $22.04 million. The business’s revenue for the quarter was up 91.5% compared to the same quarter last year. Analysts expect that Arcellx, Inc. will post -1.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ACLX has been the subject of several research reports. Canaccord Genuity Group restated a “buy” rating and set a $85.00 price target on shares of Arcellx in a research report on Monday, July 22nd. HC Wainwright reduced their target price on shares of Arcellx from $82.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, May 13th. Truist Financial reaffirmed a “buy” rating and issued a $87.00 price target on shares of Arcellx in a report on Tuesday, June 18th. Evercore ISI began coverage on Arcellx in a report on Tuesday, May 14th. They set an “outperform” rating and a $85.00 price objective for the company. Finally, Needham & Company LLC restated a “buy” rating and issued a $81.00 target price on shares of Arcellx in a research note on Friday, August 9th. Thirteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $78.00.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ACLX. Quest Partners LLC purchased a new position in Arcellx during the second quarter worth about $27,000. Plato Investment Management Ltd purchased a new stake in shares of Arcellx in the 1st quarter valued at about $51,000. Decheng Capital LLC bought a new stake in shares of Arcellx during the 2nd quarter valued at about $65,000. National Bank of Canada FI grew its holdings in shares of Arcellx by 50.0% during the second quarter. National Bank of Canada FI now owns 1,500 shares of the company’s stock worth $80,000 after purchasing an additional 500 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado bought a new position in shares of Arcellx in the second quarter worth approximately $178,000. 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).