Arcellx, Inc. (NASDAQ:ACLX) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in Arcellx, Inc. (NASDAQ:ACLX) by 2.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,579 shares of the company’s stock after selling 257 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Arcellx were worth $628,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in Arcellx by 104.1% in the 1st quarter. GAMMA Investing LLC now owns 494 shares of the company’s stock worth $32,000 after buying an additional 252 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in Arcellx during the fourth quarter worth $87,000. Amalgamated Bank grew its holdings in Arcellx by 12.0% in the 1st quarter. Amalgamated Bank now owns 1,508 shares of the company’s stock valued at $99,000 after buying an additional 161 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new stake in Arcellx in the 4th quarter valued at $214,000. Finally, Xponance Inc. raised its holdings in shares of Arcellx by 6.2% during the 1st quarter. Xponance Inc. now owns 3,278 shares of the company’s stock worth $215,000 after acquiring an additional 190 shares during the period. 96.03% of the stock is currently owned by institutional investors and hedge funds.

Arcellx Trading Down 1.9%

Arcellx stock opened at $70.67 on Thursday. Arcellx, Inc. has a twelve month low of $47.86 and a twelve month high of $107.37. The stock’s fifty day simple moving average is $67.23 and its 200-day simple moving average is $65.15. The firm has a market capitalization of $3.89 billion, a P/E ratio of -23.64 and a beta of 0.28.

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

Analyst Ratings Changes

Several research analysts have recently commented on the company. Cantor Fitzgerald upgraded Arcellx to a “strong-buy” rating in a report on Monday. Scotiabank lifted their price target on shares of Arcellx from $93.00 to $133.00 and gave the company a “sector outperform” rating in a research report on Thursday, July 31st. Citigroup started coverage on shares of Arcellx in a research report on Tuesday, June 17th. They set a “buy” rating and a $110.00 price target on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $115.00 price target on shares of Arcellx in a research report on Monday, June 16th. Thirteen analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $114.31.

Insider Buying and Selling at Arcellx

In other news, Director Kavita Patel sold 1,500 shares of the company’s 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 document filed with the SEC, which is accessible through this link. Corporate insiders own 8.35% 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).