Northern Trust Corp Trims Stock Position in Arcellx, Inc. $ACLX

Northern Trust Corp cut its holdings in shares of Arcellx, Inc. (NASDAQ:ACLX) by 1.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 403,841 shares of the company’s stock after selling 6,892 shares during the quarter. Northern Trust Corp owned about 0.73% of Arcellx worth $26,492,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. American Century Companies Inc. lifted its position in Arcellx by 84.5% during the first quarter. American Century Companies Inc. now owns 54,321 shares of the company’s stock worth $3,563,000 after buying an additional 24,875 shares during the period. Sector Gamma AS purchased a new position in shares of Arcellx in the 1st quarter worth about $2,296,000. E Fund Management Co. Ltd. raised its holdings in shares of Arcellx by 8.3% in the 1st quarter. E Fund Management Co. Ltd. now owns 5,468 shares of the company’s stock worth $359,000 after purchasing an additional 419 shares during the period. Knott David M Jr purchased a new position in shares of Arcellx in the 1st quarter worth about $984,000. Finally, Nuveen LLC purchased a new position in shares of Arcellx in the 1st quarter worth about $7,333,000. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ACLX shares. Cantor Fitzgerald upgraded Arcellx to a “strong-buy” rating in a report on Monday, August 4th. HC Wainwright reiterated a “buy” rating and set a $115.00 target price on shares of Arcellx in a report on Monday, June 16th. Scotiabank raised their target price on Arcellx from $93.00 to $133.00 and gave the company a “sector outperform” rating in a report on Thursday, July 31st. Finally, Citigroup assumed coverage on Arcellx in a report on Tuesday, June 17th. They set a “buy” rating and a $110.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the company. According to data from MarketBeat, Arcellx has an average rating of “Buy” and a consensus target price of $114.31.

Arcellx Stock Down 1.2%

ACLX stock opened at $69.39 on Friday. Arcellx, Inc. has a 52-week low of $47.86 and a 52-week high of $107.37. The stock’s 50 day moving average is $69.28 and its two-hundred day moving average is $65.76. The company has a market capitalization of $3.85 billion, a PE ratio of -20.29 and a beta of 0.28.

Arcellx (NASDAQ:ACLX) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.94) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.03) by $0.09. Arcellx had a negative return on equity of 43.04% and a negative net margin of 329.93%.The company had revenue of $7.55 million for the quarter, compared to the consensus estimate of $16.76 million. As a group, sell-side analysts anticipate that Arcellx, Inc. will post -1.58 EPS for the current year.

Insider Transactions at Arcellx

In other Arcellx news, Director Kavita Patel sold 1,500 shares of Arcellx stock in a transaction that occurred 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 filing with the SEC, which is available through this link. 8.35% of the stock is owned by corporate insiders.

About Arcellx

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).