Allspring Global Investments Holdings LLC Sells 1,948 Shares of Arcellx, Inc. (NASDAQ:ACLX)

Allspring Global Investments Holdings LLC cut its stake in Arcellx, Inc. (NASDAQ:ACLX) by 28.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,000 shares of the company’s stock after selling 1,948 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Arcellx were worth $383,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Janus Henderson Group PLC increased its stake in shares of Arcellx by 5.7% in the 3rd quarter. Janus Henderson Group PLC now owns 2,011,950 shares of the company’s stock valued at $168,026,000 after acquiring an additional 109,332 shares during the last quarter. RA Capital Management L.P. increased its stake in shares of Arcellx by 15.4% in the 3rd quarter. RA Capital Management L.P. now owns 1,851,479 shares of the company’s stock valued at $154,617,000 after acquiring an additional 247,465 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Arcellx by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 974,967 shares of the company’s stock valued at $81,434,000 after acquiring an additional 39,781 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in Arcellx by 2.1% during the 3rd quarter. Lord Abbett & CO. LLC now owns 891,848 shares of the company’s stock worth $74,478,000 after purchasing an additional 18,004 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Arcellx by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 328,093 shares of the company’s stock worth $27,399,000 after purchasing an additional 14,200 shares in the last quarter. 96.03% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Christopher Heery sold 10,155 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $63.79, for a total value of $647,787.45. Following the completion of the sale, the insider now owns 37,486 shares of the company’s stock, valued at approximately $2,391,231.94. This represents a 21.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kavita Patel sold 1,500 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $91.88, for a total value of $137,820.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,070 shares of company stock valued at $1,857,355. 6.24% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ACLX has been the subject of a number of research reports. Robert W. Baird increased their target price on Arcellx from $77.00 to $106.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Barclays raised Arcellx to a “strong-buy” rating in a research note on Friday, November 29th. Bank of America increased their target price on Arcellx from $84.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. UBS Group increased their target price on Arcellx from $106.00 to $114.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, Piper Sandler increased their target price on Arcellx from $91.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Thirteen analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Arcellx currently has a consensus rating of “Buy” and an average target price of $105.93.

Arcellx Stock Down 1.2 %

NASDAQ:ACLX opened at $63.01 on Tuesday. Arcellx, Inc. has a twelve month low of $47.88 and a twelve month high of $107.37. The business has a 50 day moving average price of $69.70 and a two-hundred day moving average price of $77.53. The company has a market cap of $3.41 billion, a P/E ratio of -88.75 and a beta of 0.29.

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).