Invesco Ltd. Buys 3,692 Shares of Arcellx, Inc. $ACLX

Invesco Ltd. raised its holdings in shares of Arcellx, Inc. (NASDAQ:ACLX) by 13.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,242 shares of the company’s stock after acquiring an additional 3,692 shares during the quarter. Invesco Ltd. owned approximately 0.05% of Arcellx worth $1,984,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Covestor Ltd boosted its stake in shares of Arcellx by 47.6% during the 1st quarter. Covestor Ltd now owns 2,137 shares of the company’s stock worth $140,000 after acquiring an additional 689 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Arcellx by 19.7% during the 1st quarter. Vanguard Group Inc. now owns 3,985,156 shares of the company’s stock worth $261,426,000 after acquiring an additional 655,064 shares during the last quarter. TD Asset Management Inc boosted its stake in shares of Arcellx by 2.7% during the 1st quarter. TD Asset Management Inc now owns 168,320 shares of the company’s stock worth $11,042,000 after acquiring an additional 4,402 shares during the last quarter. Neo Ivy Capital Management purchased a new position in shares of Arcellx during the 1st quarter worth $259,000. Finally, Readystate Asset Management LP purchased a new position in shares of Arcellx during the 1st quarter worth $2,956,000. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ACLX shares. Citigroup started coverage on shares of Arcellx in a research note on Tuesday, June 17th. They set a “buy” rating and a $110.00 price target on the stock. HC Wainwright reiterated a “buy” rating and set a $115.00 price target on shares of Arcellx in a research note on Monday, June 16th. Cantor Fitzgerald upgraded shares of Arcellx to a “strong-buy” rating in a research note on Monday, August 4th. Finally, Scotiabank lifted their target price 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. Two analysts have rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $114.31.

Insider Buying and Selling

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

Arcellx Stock Performance

ACLX opened at $69.39 on Monday. Arcellx, Inc. has a fifty-two week low of $47.86 and a fifty-two week high of $107.37. The firm’s fifty day moving average is $69.28 and its 200 day moving average is $65.77. The stock has a market cap of $3.85 billion, a price-to-earnings ratio of -20.29 and a beta of 0.28.

Arcellx (NASDAQ:ACLX) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.94) EPS for the quarter, topping the consensus estimate of ($1.03) by $0.09. The business had revenue of $7.55 million for the quarter, compared to analysts’ expectations 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 research analysts predict that Arcellx, Inc. will post -1.58 earnings per share for the current year.

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).