Kavita Patel Sells 15,238 Shares of Arcellx, Inc. (NASDAQ:ACLX) Stock

Arcellx, Inc. (NASDAQ:ACLX) Director Kavita Patel sold 15,238 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $105.92, for a total value of $1,614,008.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Friday, November 8th, Kavita Patel sold 33,763 shares of Arcellx stock. The stock was sold at an average price of $104.14, for a total transaction of $3,516,078.82.
• On Tuesday, October 22nd, Kavita Patel sold 1,500 shares of Arcellx stock. The stock was sold at an average price of $89.69, for a total transaction of $134,535.00.
• On Tuesday, September 10th, Kavita Patel sold 1,500 shares of Arcellx stock. The shares were sold at an average price of $74.41, for a total value of $111,615.00.

Arcellx Stock Down 5.1 %

ACLX stock opened at $95.08 on Friday. The business has a 50 day moving average of $85.14 and a 200-day moving average of $67.07. The firm has a market cap of $5.14 billion, a PE ratio of -133.91 and a beta of 0.27. Arcellx, Inc. has a 12-month low of $46.42 and a 12-month high of $107.37.

Arcellx (NASDAQ:ACLX) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.48) EPS for the quarter, topping the consensus estimate of ($0.54) by $0.06. Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. The business had revenue of $26.03 million for the quarter, compared to analyst estimates of $35.21 million. On average, research analysts expect that Arcellx, Inc. will post -1.56 earnings per share for the current year.

Institutional Investors Weigh In On Arcellx

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. grew its holdings in Arcellx by 36.3% during the 1st quarter. Sei Investments Co. now owns 14,836 shares of the company’s stock valued at $1,032,000 after buying an additional 3,951 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Arcellx by 3.1% during the first quarter. Russell Investments Group Ltd. now owns 195,437 shares of the company’s stock worth $13,593,000 after purchasing an additional 5,895 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of Arcellx by 12.0% in the 1st quarter. ProShare Advisors LLC now owns 10,590 shares of the company’s stock worth $737,000 after purchasing an additional 1,131 shares in the last quarter. Bleakley Financial Group LLC bought a new stake in Arcellx in the 1st quarter worth approximately $232,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Arcellx by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 2,228,856 shares of the company’s stock worth $155,017,000 after acquiring an additional 167,037 shares during the last quarter. 96.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on ACLX. Redburn Atlantic assumed coverage on Arcellx in a research report on Tuesday, October 8th. They issued a “buy” rating and a $109.00 target price on the stock. HC Wainwright lifted their price target on Arcellx from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Morgan Stanley lifted their price target on shares of Arcellx from $81.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $96.00 target price on shares of Arcellx in a research report on Wednesday, November 6th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcellx in a research report on Monday, September 9th. Thirteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $103.08.

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).