Alliancebernstein L.P. Sells 6,181 Shares of Arcellx, Inc. (NASDAQ:ACLX)

Alliancebernstein L.P. cut its stake in Arcellx, Inc. (NASDAQ:ACLX) by 10.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,250 shares of the company’s stock after selling 6,181 shares during the period. Alliancebernstein L.P. owned 0.09% of Arcellx worth $3,930,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ACLX. KBC Group NV boosted its stake in shares of Arcellx by 37.3% in the 4th quarter. KBC Group NV now owns 1,388 shares of the company’s stock valued at $106,000 after purchasing an additional 377 shares during the last quarter. Avanza Fonder AB acquired a new position in Arcellx in the fourth quarter valued at $184,000. Kazazian Asset Management LLC bought a new stake in Arcellx during the fourth quarter valued at $204,000. Xponance Inc. raised its position in shares of Arcellx by 8.6% in the 4th quarter. Xponance Inc. now owns 3,088 shares of the company’s stock worth $237,000 after acquiring an additional 244 shares in the last quarter. Finally, Cibc World Markets Corp acquired a new position in shares of Arcellx in the 4th quarter valued at about $309,000. Institutional investors and hedge funds own 96.03% of the company’s stock.

Insider Buying and Selling

In other Arcellx news, insider Rami Elghandour sold 38,300 shares of Arcellx stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $62.02, for a total transaction of $2,375,366.00. Following the completion of the transaction, the insider now owns 149,186 shares in the company, valued at approximately $9,252,515.72. The trade was a 20.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kavita Patel sold 1,500 shares of the stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $57.50, for a total value of $86,250.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,455 shares of company stock valued at $3,408,458. 6.24% of the stock is owned by company insiders.

Arcellx Stock Performance

Shares of ACLX stock opened at $60.30 on Tuesday. Arcellx, Inc. has a fifty-two week low of $47.88 and a fifty-two week high of $107.37. The stock has a 50 day simple moving average of $65.27 and a two-hundred day simple moving average of $75.74. The company has a market cap of $3.31 billion, a P/E ratio of -84.93 and a beta of 0.33.

Arcellx (NASDAQ:ACLX) last issued its earnings results on Thursday, February 27th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.24). Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. The company had revenue of $15.27 million for the quarter, compared to the consensus estimate of $27.42 million. On average, research analysts predict that Arcellx, Inc. will post -1.58 earnings per share for the current year.

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).