Mirae Asset Global Investments Co. Ltd. Has $1.24 Million Position in Arcellx, Inc. (NASDAQ:ACLX)

Mirae Asset Global Investments Co. Ltd. cut its position in shares of Arcellx, Inc. (NASDAQ:ACLX) by 5.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,367 shares of the company’s stock after selling 1,214 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Arcellx were worth $1,241,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Affinity Asset Advisors LLC increased its position in Arcellx by 76.8% during the third quarter. Affinity Asset Advisors LLC now owns 400,000 shares of the company’s stock worth $14,352,000 after buying an additional 173,725 shares during the last quarter. Vivo Capital LLC increased its holdings in shares of Arcellx by 16.1% during the 3rd quarter. Vivo Capital LLC now owns 503,565 shares of the company’s stock worth $18,068,000 after acquiring an additional 69,780 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Arcellx in the 3rd quarter valued at $2,296,000. TD Asset Management Inc raised its stake in Arcellx by 183.3% in the 3rd quarter. TD Asset Management Inc now owns 81,600 shares of the company’s stock valued at $2,928,000 after acquiring an additional 52,800 shares during the period. Finally, Vanguard Group Inc. boosted its position in Arcellx by 2.2% during the third quarter. Vanguard Group Inc. now owns 2,038,557 shares of the company’s stock worth $73,143,000 after purchasing an additional 43,970 shares during the period. 96.03% of the stock is owned by institutional investors.

Arcellx Stock Up 0.7 %

ACLX stock opened at $52.00 on Tuesday. The company has a market cap of $2.77 billion, a PE ratio of -35.37 and a beta of 0.02. Arcellx, Inc. has a 52 week low of $30.74 and a 52 week high of $75.10. The business has a 50-day simple moving average of $64.96 and a 200 day simple moving average of $55.25.

Arcellx (NASDAQ:ACLX) last issued its earnings results on Wednesday, February 28th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of ($0.53) by $0.95. The company had revenue of $63.15 million during the quarter, compared to analysts’ expectations of $20.07 million. Arcellx had a negative net margin of 64.08% and a negative return on equity of 20.96%. During the same period in the previous year, the company earned ($0.76) EPS. On average, analysts anticipate that Arcellx, Inc. will post -1.69 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Olivia C. Ware sold 9,402 shares of Arcellx 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Michelle Gilson sold 6,825 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $69.34, for a total value of $473,245.50. Following the completion of the transaction, the chief financial officer now owns 9,485 shares of the company’s stock, valued at $657,689.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Olivia C. Ware sold 9,402 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $55.55, for a total transaction of $522,281.10. The disclosure for this sale can be found here. Insiders sold 605,814 shares of company stock worth $42,439,893 over the last three months. Insiders own 5.86% of the company’s stock.

Wall Street Analysts Forecast Growth

ACLX has been the topic of several research analyst reports. Truist Financial increased their price objective on shares of Arcellx from $57.00 to $87.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Morgan Stanley initiated coverage on Arcellx in a research report on Thursday, March 7th. They issued an “overweight” rating and a $81.00 target price on the stock. Barclays lifted their price target on Arcellx from $62.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $82.00 price objective on shares of Arcellx in a report on Thursday, March 14th. Finally, HC Wainwright lifted their target price on Arcellx from $60.00 to $82.00 and gave the stock a “buy” 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, Arcellx has an average rating of “Buy” and a consensus price target of $74.17.

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).