Russell Investments Group Ltd. Grows Stock Holdings in Arcellx, Inc. (NASDAQ:ACLX)

Russell Investments Group Ltd. lifted its stake in shares of Arcellx, Inc. (NASDAQ:ACLX) by 6.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 189,542 shares of the company’s stock after acquiring an additional 11,200 shares during the quarter. Russell Investments Group Ltd.’s holdings in Arcellx were worth $10,520,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ACLX. China Universal Asset Management Co. Ltd. increased its holdings in Arcellx by 98.4% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,248 shares of the company’s stock worth $45,000 after purchasing an additional 619 shares during the period. Exchange Traded Concepts LLC increased its stake in shares of Arcellx by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 4,241 shares of the company’s stock valued at $235,000 after buying an additional 1,076 shares during the period. Amalgamated Bank raised its holdings in shares of Arcellx by 5.6% in the third quarter. Amalgamated Bank now owns 5,772 shares of the company’s stock valued at $207,000 after acquiring an additional 308 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Arcellx by 36.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,405 shares of the company’s stock worth $355,000 after acquiring an additional 1,701 shares during the period. Finally, High Net Worth Advisory Group LLC lifted its stake in Arcellx by 7.7% in the fourth quarter. High Net Worth Advisory Group LLC now owns 7,000 shares of the company’s stock worth $388,000 after acquiring an additional 500 shares during the period. Institutional investors own 96.03% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on ACLX. Stifel Nicolaus reissued a “buy” rating and set a $82.00 target price on shares of Arcellx in a research report on Thursday, March 14th. Needham & Company LLC reissued a “buy” rating and issued a $81.00 price objective on shares of Arcellx in a research note on Thursday, April 11th. Scotiabank reaffirmed an “outperform” rating and set a $82.00 target price on shares of Arcellx in a research report on Thursday, April 4th. Morgan Stanley assumed coverage on Arcellx in a research report on Thursday, March 7th. They set an “overweight” rating and a $81.00 target price on the stock. Finally, Truist Financial increased their target price on Arcellx from $57.00 to $87.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $75.64.

Arcellx Trading Down 1.1 %

Shares of ACLX opened at $52.69 on Monday. Arcellx, Inc. has a 12 month low of $30.74 and a 12 month high of $75.10. The stock has a fifty day moving average price of $63.02 and a 200-day moving average price of $56.47. The firm has a market cap of $2.81 billion, a PE ratio of -35.84 and a beta of 0.24.

Arcellx (NASDAQ:ACLX) last issued 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 firm had revenue of $63.15 million during the quarter, compared to analyst estimates of $20.07 million. During the same quarter in the prior year, the business posted ($0.76) EPS. As a group, research analysts forecast that Arcellx, Inc. will post -1.69 EPS for the current year.

Insider Activity

In other news, insider Christopher Heery sold 2,967 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $64.46, for a total transaction of $191,252.82. Following the completion of the sale, the insider now owns 30,303 shares in the company, valued at approximately $1,953,331.38. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Christopher Heery sold 2,967 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $64.46, for a total value of $191,252.82. Following the completion of the transaction, the insider now owns 30,303 shares in the company, valued at approximately $1,953,331.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Olivia C. Ware sold 9,000 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $70.40, for a total value of $633,600.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 623,982 shares of company stock worth $43,372,457. Insiders own 6.24% of the company’s stock.

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).