Rafferty Asset Management LLC Decreases Stock Holdings in Arcellx, Inc. (NASDAQ:ACLX)

Rafferty Asset Management LLC cut its stake in Arcellx, Inc. (NASDAQ:ACLXFree Report) by 29.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 111,952 shares of the company’s stock after selling 46,826 shares during the period. Rafferty Asset Management LLC owned approximately 0.23% of Arcellx worth $6,213,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Exchange Traded Concepts LLC increased its stake in Arcellx by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 4,241 shares of the company’s stock valued at $235,000 after purchasing an additional 1,076 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in Arcellx by 351.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 5,632 shares of the company’s stock valued at $313,000 after purchasing an additional 4,384 shares during the last quarter. Amalgamated Bank increased its position 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 buying an additional 308 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Arcellx by 36.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,405 shares of the company’s stock worth $355,000 after buying an additional 1,701 shares during the last quarter. Finally, High Net Worth Advisory Group LLC boosted its position in shares of Arcellx by 7.7% in the 4th quarter. High Net Worth Advisory Group LLC now owns 7,000 shares of the company’s stock worth $388,000 after buying an additional 500 shares in the last quarter. 96.03% of the stock is currently owned by institutional investors and hedge funds.

Arcellx Price Performance

Shares of ACLX stock opened at $51.34 on Friday. The firm’s 50-day simple moving average is $54.62 and its 200-day simple moving average is $58.14. Arcellx, Inc. has a 1-year low of $30.74 and a 1-year high of $75.10. The firm has a market cap of $2.75 billion, a P/E ratio of -49.84 and a beta of 0.23.

Arcellx (NASDAQ:ACLXGet Free Report) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.51) by $0.37. The firm had revenue of $39.26 million during the quarter, compared to analyst estimates of $20.67 million. Arcellx had a negative net margin of 38.39% and a negative return on equity of 13.11%. Arcellx’s revenue for the quarter was up 119.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.58) earnings per share. Analysts expect that Arcellx, Inc. will post -1.7 earnings per share for the current fiscal year.

Insider Transactions at Arcellx

In related news, Director Jill Carroll sold 504,263 shares of Arcellx stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $70.55, for a total value of $35,575,754.65. Following the transaction, the director now owns 1,479,148 shares in the company, valued at $104,353,891.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Jill Carroll sold 504,263 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 1,479,148 shares in the company, valued at $104,353,891.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Michelle Gilson sold 12,121 shares of Arcellx stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $50.71, for a total transaction of $614,655.91. Following the transaction, the chief financial officer now directly owns 19,792 shares in the company, valued at $1,003,652.32. The disclosure for this sale can be found here. Insiders sold a total of 629,680 shares of company stock worth $43,580,586 in the last ninety days. Insiders own 6.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ACLX. Barclays raised their target price on shares of Arcellx from $62.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Stifel Nicolaus raised their price objective on shares of Arcellx from $82.00 to $83.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. Truist Financial upped their target price on Arcellx from $57.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Piper Sandler initiated coverage on Arcellx in a report on Friday, May 31st. They issued an “overweight” rating and a $70.00 price target for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $81.00 price objective on shares of Arcellx in a research note on Tuesday, May 7th. Thirteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $78.00.

Get Our Latest Report on ACLX

Arcellx Profile

(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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