Moody Aldrich Partners LLC Lowers Stock Holdings in Arcellx, Inc. (NASDAQ:ACLX)

Moody Aldrich Partners LLC cut its stake in shares of Arcellx, Inc. (NASDAQ:ACLX) by 60.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,683 shares of the company’s stock after selling 16,122 shares during the quarter. Moody Aldrich Partners LLC’s holdings in Arcellx were worth $819,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. RA Capital Management L.P. grew its stake in 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 in the last quarter. First Turn Management LLC purchased a new stake in shares of Arcellx in the 3rd quarter worth $17,896,000. Janus Henderson Group PLC grew its position in shares of Arcellx by 5.7% during the 3rd quarter. Janus Henderson Group PLC now owns 2,011,950 shares of the company’s stock worth $168,026,000 after buying an additional 109,332 shares in the last quarter. abrdn plc purchased a new position in shares of Arcellx during the third quarter valued at $4,242,000. Finally, Geode Capital Management LLC raised its holdings in shares of Arcellx by 4.3% in the third quarter. Geode Capital Management LLC now owns 974,967 shares of the company’s stock valued at $81,434,000 after acquiring an additional 39,781 shares in the last quarter. 96.03% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Arcellx news, Director Kavita Patel sold 15,238 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $105.92, for a total transaction of $1,614,008.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christopher Heery sold 3,301 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $79.55, for a total transaction of $262,594.55. Following the completion of the sale, the insider now directly owns 35,517 shares in the company, valued at $2,825,377.35. This trade represents a 8.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 63,416 shares of company stock valued at $6,242,800. 6.24% of the stock is owned by company insiders.

Arcellx Stock Up 0.5 %

Shares of Arcellx stock opened at $64.58 on Thursday. The firm has a market capitalization of $3.49 billion, a P/E ratio of -90.96 and a beta of 0.33. Arcellx, Inc. has a 52 week low of $47.88 and a 52 week high of $107.37. The company has a 50 day moving average price of $77.48 and a 200 day moving average price of $76.72.

Arcellx (NASDAQ:ACLX) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.06. The business had revenue of $26.03 million during the quarter, compared to analysts’ expectations 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 anticipate that Arcellx, Inc. will post -1.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

ACLX has been the topic of several recent research reports. Stifel Nicolaus increased their target price on shares of Arcellx from $83.00 to $122.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Barclays upgraded shares of Arcellx to a “strong-buy” rating in a research note on Friday, November 29th. Morgan Stanley boosted their price objective on shares of Arcellx from $81.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Needham & Company LLC restated a “buy” rating and set a $105.00 target price on shares of Arcellx in a report on Monday, December 9th. Finally, Robert W. Baird lifted their price target on Arcellx from $77.00 to $106.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Thirteen analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $105.93.

Arcellx 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).