Vanguard Group Inc. Acquires 655,064 Shares of Arcellx, Inc. $ACLX

Vanguard Group Inc. grew its holdings in Arcellx, Inc. (NASDAQ:ACLX) by 19.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,985,156 shares of the company’s stock after purchasing an additional 655,064 shares during the period. Vanguard Group Inc. owned approximately 7.24% of Arcellx worth $261,426,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC increased its holdings in Arcellx by 104.1% during the 1st quarter. GAMMA Investing LLC now owns 494 shares of the company’s stock worth $32,000 after acquiring an additional 252 shares during the period. GF Fund Management CO. LTD. purchased a new position in Arcellx in the 4th quarter worth approximately $87,000. Amalgamated Bank grew its stake in Arcellx by 12.0% in the 1st quarter. Amalgamated Bank now owns 1,508 shares of the company’s stock worth $99,000 after buying an additional 161 shares in the last quarter. Xponance Inc. grew its stake in Arcellx by 6.2% in the 1st quarter. Xponance Inc. now owns 3,278 shares of the company’s stock worth $215,000 after buying an additional 190 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV purchased a new position in Arcellx in the 4th quarter worth approximately $278,000. Institutional investors own 96.03% of the company’s stock.

Arcellx Price Performance

Shares of Arcellx stock opened at $71.82 on Tuesday. The firm has a market cap of $3.98 billion, a price-to-earnings ratio of -21.00 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 company has a 50-day moving average of $68.25 and a 200 day moving average of $65.48.

Arcellx (NASDAQ:ACLX) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.94) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.03) by $0.09. The business had revenue of $7.55 million during the quarter, compared to analyst estimates of $16.76 million. Arcellx had a negative net margin of 329.93% and a negative return on equity of 43.04%. On average, equities analysts anticipate that Arcellx, Inc. will post -1.58 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ACLX. Scotiabank upped their price objective on shares of Arcellx from $93.00 to $133.00 and gave the company a “sector outperform” rating in a research note 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 for the company. Cantor Fitzgerald raised shares of Arcellx to a “strong-buy” rating in a research report on Monday, August 4th. Finally, HC Wainwright reissued a “buy” rating and set a $115.00 price target on shares of Arcellx in a research report on Monday, June 16th. Thirteen equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $114.31.

Insider Activity

In other news, Director Kavita Patel sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $67.36, for a total transaction of $101,040.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 8.35% of the stock is currently 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).