BNP Paribas Financial Markets Makes New $1.53 Million Investment in Arcellx, Inc. (NASDAQ:ACLX)

BNP Paribas Financial Markets bought a new position in shares of Arcellx, Inc. (NASDAQ:ACLX) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 19,965 shares of the company’s stock, valued at approximately $1,531,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new stake in Arcellx during the 4th quarter worth $41,000. KBC Group NV boosted its stake in Arcellx by 37.3% during the 4th quarter. KBC Group NV now owns 1,388 shares of the company’s stock worth $106,000 after purchasing an additional 377 shares during the last quarter. Avanza Fonder AB acquired a new stake in Arcellx during the 4th quarter worth $184,000. Kazazian Asset Management LLC acquired a new stake in Arcellx during the 4th quarter worth $204,000. Finally, Landscape Capital Management L.L.C. purchased a new position in shares of Arcellx during the 4th quarter worth $214,000. Institutional investors and hedge funds own 96.03% of the company’s stock.

Arcellx Trading Up 0.6%

Shares of ACLX opened at $58.78 on Monday. The firm has a market cap of $3.24 billion, a P/E ratio of -82.79 and a beta of 0.34. Arcellx, Inc. has a 12-month low of $47.86 and a 12-month high of $107.37. The company’s 50-day moving average price is $63.20 and its 200 day moving average price is $71.66.

Arcellx (NASDAQ:ACLX) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.84) by ($0.29). The company had revenue of $8.13 million during the quarter, compared to analysts’ expectations of $19.51 million. Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. Equities research analysts forecast that Arcellx, Inc. will post -1.58 earnings per share for the current year.

Analyst Ratings Changes

Separately, Scotiabank reduced their price target on Arcellx from $133.00 to $93.00 and set a “sector outperform” rating on the stock in a report on Friday, May 9th. Thirteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $111.33.

Insider Activity at Arcellx

In other Arcellx news, insider Christopher Heery sold 10,155 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $63.79, for a total transaction of $647,787.45. Following the sale, the insider now directly owns 37,486 shares in the company, valued at $2,391,231.94. This represents a 21.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavita Patel sold 1,500 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $63.16, for a total transaction of $94,740.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 54,455 shares of company stock worth $3,407,903. Company insiders own 6.24% of the company’s stock.

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).