Wellington Management Group LLP Purchases 1,432 Shares of Arcellx, Inc. (NASDAQ:ACLX)

Wellington Management Group LLP lifted its position in shares of Arcellx, Inc. (NASDAQ:ACLXFree Report) by 2.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 57,634 shares of the company’s stock after acquiring an additional 1,432 shares during the period. Wellington Management Group LLP’s holdings in Arcellx were worth $2,068,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ACLX. JPMorgan Chase & Co. bought a new stake in shares of Arcellx during the first quarter valued at approximately $60,000. Bank of New York Mellon Corp bought a new stake in shares of Arcellx during the first quarter valued at approximately $332,000. Citigroup Inc. bought a new stake in shares of Arcellx during the first quarter valued at approximately $26,000. BlackRock Inc. bought a new stake in shares of Arcellx during the first quarter valued at approximately $7,012,000. Finally, Vanguard Group Inc. bought a new stake in shares of Arcellx during the first quarter valued at approximately $6,151,000. 96.03% of the stock is currently owned by institutional investors.

Insider Activity at Arcellx

In related news, Director Jill Carroll sold 504,263 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $70.55, for a total transaction of $35,575,754.65. Following the completion of the sale, the director now owns 1,479,148 shares in the company, valued at $104,353,891.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Olivia C. Ware sold 9,000 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $70.40, for a total transaction of $633,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jill Carroll sold 504,263 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $70.55, for a total value of $35,575,754.65. Following the sale, the director now owns 1,479,148 shares of the company’s stock, valued at approximately $104,353,891.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 589,438 shares of company stock worth $41,259,283. 5.86% of the stock is owned by insiders.

Arcellx Price Performance

ACLX stock opened at $70.45 on Thursday. Arcellx, Inc. has a 1-year low of $27.28 and a 1-year high of $75.10. The business has a fifty day moving average price of $65.19 and a 200-day moving average price of $52.03. The stock has a market capitalization of $3.72 billion, a P/E ratio of -47.92 and a beta of 0.02.

Arcellx (NASDAQ:ACLXGet Free Report) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of ($0.53) by $0.95. Arcellx had a negative return on equity of 20.96% and a negative net margin of 64.08%. The firm had revenue of $63.15 million during the quarter, compared to analysts’ expectations of $20.07 million. During the same quarter in the previous year, the business earned ($0.76) earnings per share. As a group, analysts anticipate that Arcellx, Inc. will post -1.69 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ACLX shares. Truist Financial lifted their price objective on Arcellx from $57.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Stifel Nicolaus reiterated a “buy” rating and set a $82.00 price objective on shares of Arcellx in a research note on Thursday, March 14th. Needham & Company LLC lifted their price objective on Arcellx from $72.00 to $81.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Morgan Stanley started coverage on Arcellx in a research note on Thursday, March 7th. They set an “overweight” rating and a $81.00 price objective for the company. Finally, Robert W. Baird lifted their price objective on Arcellx from $63.00 to $77.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Thirteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $69.14.

Get Our Latest Stock Analysis on ACLX

About Arcellx

(Free Report)

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).

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Institutional Ownership by Quarter for Arcellx (NASDAQ:ACLX)

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