Millennium Management LLC Raises Stock Holdings in Arcellx, Inc. (NASDAQ:ACLX)

Millennium Management LLC increased its position in Arcellx, Inc. (NASDAQ:ACLX) by 123.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,370 shares of the company’s stock after buying an additional 12,370 shares during the quarter. Millennium Management LLC’s holdings in Arcellx were worth $1,716,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in ACLX. KBC Group NV increased its stake in shares of Arcellx by 37.3% in the fourth quarter. KBC Group NV now owns 1,388 shares of the company’s stock worth $106,000 after buying an additional 377 shares during the period. Legato Capital Management LLC increased its stake in shares of Arcellx by 36.1% in the fourth quarter. Legato Capital Management LLC now owns 5,999 shares of the company’s stock worth $460,000 after buying an additional 1,591 shares during the period. Rhumbline Advisers boosted its holdings in Arcellx by 1.9% in the fourth quarter. Rhumbline Advisers now owns 59,903 shares of the company’s stock valued at $4,594,000 after acquiring an additional 1,125 shares in the last quarter. Congress Asset Management Co. boosted its holdings in Arcellx by 11.4% in the fourth quarter. Congress Asset Management Co. now owns 25,321 shares of the company’s stock valued at $1,942,000 after acquiring an additional 2,586 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D bought a new stake in Arcellx in the fourth quarter valued at $1,838,000. 96.03% of the stock is owned by hedge funds and other institutional investors.

Arcellx Trading Down 0.2%

Shares of ACLX stock opened at $61.93 on Tuesday. Arcellx, Inc. has a 12 month low of $47.86 and a 12 month high of $107.37. The stock has a market cap of $3.41 billion, a PE ratio of -87.22 and a beta of 0.34. The company’s fifty day moving average price is $61.29 and its 200-day moving average price is $69.18.

Arcellx (NASDAQ:ACLX) last announced its earnings results on Thursday, May 8th. The company reported ($1.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.29). Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. The business had revenue of $8.13 million for the quarter, compared to the consensus estimate of $19.51 million. On average, sell-side analysts forecast that Arcellx, Inc. will post -1.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Scotiabank cut their price target on shares of Arcellx from $133.00 to $93.00 and set a “sector outperform” rating on the stock in a report on Friday, May 9th. Thirteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $111.33.

Insider Transactions at Arcellx

In other news, Director Kavita Patel sold 1,500 shares of Arcellx stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $58.43, for a total value of $87,645.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 6,000 shares of company stock valued at $377,655 in the last quarter. 8.35% of the stock is owned by insiders.

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).