Insider Selling: Arcellx, Inc. (NASDAQ:ACLX) Director Sells 9,402 Shares of Stock

Arcellx, Inc. (NASDAQ:ACLX) Director Olivia C. Ware sold 9,402 shares of the firm’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $55.55, for a total value of $522,281.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Olivia C. Ware also recently made the following trade(s):

• On Friday, March 15th, Olivia C. Ware sold 9,000 shares of Arcellx stock. The stock was sold at an average price of $70.40, for a total value of $633,600.00.

Arcellx Price Performance

NASDAQ:ACLX opened at $51.65 on Friday. The business’s 50-day moving average is $64.96 and its two-hundred day moving average is $54.96. Arcellx, Inc. has a 12 month low of $30.74 and a 12 month high of $75.10. The firm has a market capitalization of $2.75 billion, a PE ratio of -35.14 and a beta of 0.02.

Arcellx (NASDAQ:ACLX) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.42 EPS for the quarter, beating 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 company had revenue of $63.15 million for the quarter, compared to analyst estimates of $20.07 million. During the same period last year, the company posted ($0.76) earnings per share. Equities analysts anticipate that Arcellx, Inc. will post -1.69 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC purchased a new position in Arcellx in the first quarter valued at about $804,000. High Net Worth Advisory Group LLC increased its position in shares of Arcellx by 14.3% during the first quarter. High Net Worth Advisory Group LLC now owns 8,000 shares of the company’s stock worth $556,000 after acquiring an additional 1,000 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Arcellx by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 2,061,819 shares of the company’s stock worth $114,431,000 after acquiring an additional 23,262 shares during the last quarter. Perceptive Advisors LLC increased its position in shares of Arcellx by 14.6% during the fourth quarter. Perceptive Advisors LLC now owns 4,544,809 shares of the company’s stock worth $252,237,000 after acquiring an additional 578,831 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Arcellx by 34.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,260,180 shares of the company’s stock worth $69,941,000 after acquiring an additional 323,309 shares during the last quarter. 96.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ACLX shares. Morgan Stanley started coverage on Arcellx in a report on Thursday, March 7th. They set an “overweight” rating and a $81.00 price objective on the stock. Stifel Nicolaus restated a “buy” rating and set a $82.00 price objective on shares of Arcellx in a report on Thursday, March 14th. Scotiabank restated an “outperform” rating and set a $82.00 price objective on shares of Arcellx in a report on Thursday, April 4th. Robert W. Baird lifted their target price on Arcellx from $63.00 to $77.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Finally, Barclays lifted their target price on Arcellx from $62.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $74.17.

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).