Arcellx, Inc. (NASDAQ:ACLX) Insider Christopher Heery Sells 18,168 Shares

Arcellx, Inc. (NASDAQ:ACLX) insider Christopher Heery sold 18,168 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $51.33, for a total transaction of $932,563.44. Following the completion of the sale, the insider now owns 8,938 shares of the company’s stock, valued at approximately $458,787.54. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Friday, March 22nd, Christopher Heery sold 41,365 shares of Arcellx stock. The shares were sold at an average price of $70.18, for a total transaction of $2,902,995.70.
• On Tuesday, March 26th, Christopher Heery sold 5,450 shares of Arcellx stock. The shares were sold at an average price of $69.11, for a total transaction of $376,649.50.
• On Monday, February 12th, Christopher Heery sold 2,967 shares of Arcellx stock. The shares were sold at an average price of $64.46, for a total transaction of $191,252.82.
• On Thursday, February 8th, Christopher Heery sold 3,456 shares of Arcellx stock. The shares were sold at an average price of $62.29, for a total transaction of $215,274.24.

Arcellx Stock Performance

NASDAQ:ACLX opened at $52.69 on Friday. Arcellx, Inc. has a fifty-two week low of $30.74 and a fifty-two week high of $75.10. The stock has a market capitalization of $2.81 billion, a P/E ratio of -35.84 and a beta of 0.24. The company has a 50 day moving average price of $63.02 and a 200 day moving average price of $56.31.

Arcellx (NASDAQ:ACLX) last issued its quarterly 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. Arcellx had a negative net margin of 64.08% and a negative return on equity of 20.96%. The company had revenue of $63.15 million during the quarter, compared to analysts’ expectations of $20.07 million. During the same quarter last year, the company posted ($0.76) EPS. Research analysts forecast that Arcellx, Inc. will post -1.69 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ACLX. Needham & Company LLC restated a “buy” rating and set a $81.00 price target on shares of Arcellx in a report on Thursday, April 11th. Robert W. Baird raised their price target on shares of Arcellx from $63.00 to $77.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. HC Wainwright raised their price target on shares of Arcellx from $60.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Barclays raised their price target on shares of Arcellx from $62.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Finally, Truist Financial raised their price target on shares of Arcellx from $57.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $75.64.

Hedge Funds Weigh In On Arcellx

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Amalgamated Bank boosted its position in Arcellx by 5.6% in the 3rd quarter. Amalgamated Bank now owns 5,772 shares of the company’s stock valued at $207,000 after buying an additional 308 shares during the period. E Fund Management Co. Ltd. boosted its position in Arcellx by 5.3% in the 3rd quarter. E Fund Management Co. Ltd. now owns 8,156 shares of the company’s stock valued at $293,000 after buying an additional 407 shares during the period. Alps Advisors Inc. lifted its position in shares of Arcellx by 1.2% during the 3rd quarter. Alps Advisors Inc. now owns 35,710 shares of the company’s stock worth $1,281,000 after purchasing an additional 432 shares during the last quarter. High Net Worth Advisory Group LLC lifted its position in shares of Arcellx by 7.7% during the 4th quarter. High Net Worth Advisory Group LLC now owns 7,000 shares of the company’s stock worth $388,000 after purchasing an additional 500 shares during the last quarter. Finally, Profund Advisors LLC lifted its position in shares of Arcellx by 2.0% during the 3rd quarter. Profund Advisors LLC now owns 26,872 shares of the company’s stock worth $964,000 after purchasing an additional 527 shares during the last quarter. Hedge funds and other institutional investors own 96.03% of the company’s stock.

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).