Teacher Retirement System of Texas Decreases Stake in Arcellx, Inc. (NASDAQ:ACLX)

Teacher Retirement System of Texas lessened its stake in shares of Arcellx, Inc. (NASDAQ:ACLX) by 8.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,732 shares of the company’s stock after selling 824 shares during the quarter. Teacher Retirement System of Texas’ holdings in Arcellx were worth $573,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Amalgamated Bank increased its stake in shares of Arcellx by 12.0% during the first quarter. Amalgamated Bank now owns 1,508 shares of the company’s stock valued at $99,000 after buying an additional 161 shares during the period. Xponance Inc. lifted its stake in Arcellx by 8.6% in the fourth quarter. Xponance Inc. now owns 3,088 shares of the company’s stock worth $237,000 after acquiring an additional 244 shares during the period. GAMMA Investing LLC boosted its holdings in Arcellx by 104.1% in the first quarter. GAMMA Investing LLC now owns 494 shares of the company’s stock valued at $32,000 after acquiring an additional 252 shares in the last quarter. Swiss National Bank increased its position in Arcellx by 0.8% during the 4th quarter. Swiss National Bank now owns 63,400 shares of the company’s stock valued at $4,862,000 after purchasing an additional 500 shares during the period. Finally, Headlands Technologies LLC purchased a new position in Arcellx during the 4th quarter valued at $41,000. Institutional investors own 96.03% of the company’s stock.

Insider Transactions at Arcellx

In other news, Director Kavita Patel sold 1,500 shares of the stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $67.36, for a total transaction of $101,040.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 4,500 shares of company stock valued at $284,985 in the last 90 days. Company insiders own 8.35% of the company’s stock.

Arcellx Price Performance

Shares of NASDAQ:ACLX opened at $70.70 on Thursday. The company has a market cap of $3.90 billion, a P/E ratio of -23.65 and a beta of 0.28. Arcellx, Inc. has a 1 year low of $47.86 and a 1 year high of $107.37. The stock’s fifty day moving average price is $64.26 and its 200-day moving average price is $65.36.

Arcellx (NASDAQ:ACLX) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.29). Arcellx had a negative net margin of 211.46% and a negative return on equity of 35.27%. The company had revenue of $8.13 million for the quarter, compared to analysts’ expectations of $19.51 million. On average, sell-side analysts anticipate that Arcellx, Inc. will post -1.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ACLX has been the topic of several research analyst reports. HC Wainwright reiterated a “buy” rating and set a $115.00 price target on shares of Arcellx in a research report on Monday, June 16th. Citigroup started coverage on Arcellx in a research report on Tuesday, June 17th. They set a “buy” rating and a $110.00 price objective on the stock. Finally, Scotiabank decreased their target price on Arcellx from $133.00 to $93.00 and set a “sector outperform” rating for the company in a research report on Friday, May 9th. Fourteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $111.23.

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).