Arcellx, Inc. (NASDAQ:ACLX) Insider Christopher Heery Sells 3,061 Shares

Arcellx, Inc. (NASDAQ:ACLX) insider Christopher Heery sold 3,061 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $77.17, for a total value of $236,217.37. Following the completion of the transaction, the insider now directly owns 32,456 shares of the company’s stock, valued at $2,504,629.52. The trade was a 8.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, January 3rd, Christopher Heery sold 3,301 shares of Arcellx stock. The stock was sold at an average price of $79.55, for a total value of $262,594.55.

Arcellx Price Performance

Arcellx stock traded down $4.12 during trading hours on Monday, reaching $75.01. The company had a trading volume of 1,085,230 shares, compared to its average volume of 606,243. Arcellx, Inc. has a 12-month low of $47.88 and a 12-month high of $107.37. The company has a 50-day moving average price of $85.95 and a 200 day moving average price of $75.49. The firm has a market cap of $4.06 billion, a price-to-earnings ratio of -105.65 and a beta of 0.33.

Arcellx (NASDAQ:ACLX) last issued its earnings results on Thursday, November 7th. The company reported ($0.48) EPS for the quarter, topping the consensus estimate of ($0.54) by $0.06. The company had revenue of $26.03 million for the quarter, compared to the consensus estimate 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 expect that Arcellx, Inc. will post -1.49 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ACLX shares. Robert W. Baird raised their price objective on shares of Arcellx from $77.00 to $106.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Redburn Atlantic initiated coverage on shares of Arcellx in a report on Tuesday, October 8th. They issued a “buy” rating and a $109.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $105.00 price target on shares of Arcellx in a report on Monday, December 9th. Canaccord Genuity Group lifted their price target on Arcellx from $85.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Finally, Piper Sandler upped their price objective on shares of Arcellx from $91.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Thirteen research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Arcellx currently has a consensus rating of “Buy” and an average price target of $105.93.

Hedge Funds Weigh In On Arcellx

Several hedge funds and other institutional investors have recently modified their holdings of ACLX. RA Capital Management L.P. grew its stake in shares of Arcellx by 15.4% in the third quarter. RA Capital Management L.P. now owns 1,851,479 shares of the company’s stock worth $154,617,000 after purchasing an additional 247,465 shares during the last quarter. First Turn Management LLC bought a new stake in shares of Arcellx in the 3rd quarter worth approximately $17,896,000. Great Point Partners LLC increased its stake in shares of Arcellx by 64.0% during the second quarter. Great Point Partners LLC now owns 492,000 shares of the company’s stock valued at $27,153,000 after buying an additional 192,000 shares during the period. Affinity Asset Advisors LLC raised its holdings in shares of Arcellx by 53.3% during the second quarter. Affinity Asset Advisors LLC now owns 460,000 shares of the company’s stock valued at $25,387,000 after acquiring an additional 160,000 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its stake in Arcellx by 5.7% in the third quarter. Janus Henderson Group PLC now owns 2,011,950 shares of the company’s stock worth $168,026,000 after acquiring an additional 109,332 shares during the period. 96.03% of the stock is owned by institutional investors.

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).