Strs Ohio Buys New Position in Arcellx, Inc. $ACLX

Strs Ohio bought a new stake in shares of Arcellx, Inc. (NASDAQ:ACLX) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 14,300 shares of the company’s stock, valued at approximately $938,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ACLX. GAMMA Investing LLC boosted its stake in shares of Arcellx by 104.1% in the 1st quarter. GAMMA Investing LLC now owns 494 shares of the company’s stock valued at $32,000 after buying an additional 252 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Arcellx in the 1st quarter valued at about $50,000. GF Fund Management CO. LTD. purchased a new position in shares of Arcellx in the 4th quarter valued at about $87,000. Amalgamated Bank boosted its stake in shares of 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 during the period. Finally, Covestor Ltd boosted its stake in shares of Arcellx by 47.6% in the 1st quarter. Covestor Ltd now owns 2,137 shares of the company’s stock valued at $140,000 after buying an additional 689 shares during the period. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

Arcellx Stock Performance

ACLX opened at $79.98 on Friday. The business’s fifty day moving average is $71.51 and its two-hundred day moving average is $66.74. The company has a market cap of $4.44 billion, a price-to-earnings ratio of -23.39 and a beta of 0.28. Arcellx, Inc. has a one year low of $47.86 and a one year high of $107.37.

Arcellx (NASDAQ:ACLX) last posted its earnings results on Thursday, August 7th. The company reported ($0.94) EPS for the quarter, topping analysts’ consensus estimates of ($1.03) by $0.09. The company had revenue of $7.55 million for the quarter, compared to the consensus estimate of $16.76 million. Arcellx had a negative return on equity of 43.04% and a negative net margin of 329.93%. On average, analysts predict that Arcellx, Inc. will post -1.58 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Citigroup assumed coverage on Arcellx in a research note on Tuesday, June 17th. They set a “buy” rating and a $110.00 target price for the company. Scotiabank boosted their target price on Arcellx from $93.00 to $133.00 and gave the stock a “sector outperform” rating in a research note on Thursday, July 31st. HC Wainwright restated a “buy” rating and set a $115.00 target price on shares of Arcellx in a research note on Monday, June 16th. Finally, Cantor Fitzgerald upgraded Arcellx to a “strong-buy” rating in a research note on Monday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, Arcellx currently has an average rating of “Buy” and a consensus price target of $114.31.

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).