Christopher Heery Sells 5,882 Shares of Arcellx (NASDAQ:ACLX) Stock

Arcellx, Inc. (NASDAQ:ACLX) insider Christopher Heery sold 5,882 shares of the business’s stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $68.51, for a total value of $402,975.82. Following the transaction, the insider directly owned 23,749 shares in the company, valued at $1,627,043.99. This trade represents a 19.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Christopher Heery also recently made the following trade(s):

• On Tuesday, January 13th, Christopher Heery sold 7,437 shares of Arcellx stock. The stock was sold at an average price of $65.51, for a total value of $487,197.87.
• On Monday, January 12th, Christopher Heery sold 6,131 shares of Arcellx stock. The shares were sold at an average price of $64.15, for a total transaction of $393,303.65.
• On Monday, November 17th, Christopher Heery sold 340 shares of Arcellx stock. The shares were sold at an average price of $90.00, for a total transaction of $30,600.00.

Arcellx Trading Down 2.2%

Arcellx stock opened at $68.32 on Friday. The company has a 50-day moving average price of $72.51 and a 200 day moving average price of $74.81. Arcellx, Inc. has a 12-month low of $47.86 and a 12-month high of $94.07. The stock has a market cap of $3.95 billion, a P/E ratio of -17.38 and a beta of 0.36.

Arcellx (NASDAQ:ACLX) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.99) earnings per share for the quarter, missing the consensus estimate of ($0.96) by ($0.03). The firm had revenue of $4.95 million during the quarter, compared to analysts’ expectations of $11.24 million. Arcellx had a negative net margin of 607.01% and a negative return on equity of 51.13%. As a group, analysts forecast that Arcellx, Inc. will post -1.58 EPS for the current year.

Hedge Funds Weigh In On Arcellx

Several institutional investors have recently bought and sold shares of the company. Vestal Point Capital LP increased its stake in Arcellx by 15.2% during the second quarter. Vestal Point Capital LP now owns 2,750,000 shares of the company’s stock worth $181,088,000 after purchasing an additional 362,280 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Arcellx by 42.9% in the second quarter. JPMorgan Chase & Co. now owns 976,968 shares of the company’s stock valued at $64,333,000 after purchasing an additional 293,387 shares in the last quarter. Bamco Inc. NY grew its holdings in shares of Arcellx by 6.2% in the third quarter. Bamco Inc. NY now owns 550,236 shares of the company’s stock valued at $45,174,000 after purchasing an additional 32,227 shares in the last quarter. Decheng Capital LLC increased its stake in Arcellx by 995.2% during the 2nd quarter. Decheng Capital LLC now owns 547,609 shares of the company’s stock worth $36,060,000 after buying an additional 497,609 shares during the period. Finally, Schonfeld Strategic Advisors LLC lifted its holdings in Arcellx by 44.3% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 500,315 shares of the company’s stock worth $41,076,000 after buying an additional 153,587 shares in the last quarter. 96.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Arcellx in a research report on Wednesday, October 8th. Citigroup reissued a “buy” rating on shares of Arcellx in a research report on Monday, November 24th. Stifel Nicolaus set a $129.00 target price on shares of Arcellx and gave the company a “buy” rating in a research report on Thursday, October 16th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $88.00 target price on shares of Arcellx in a research note on Thursday, October 9th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $105.00 price target on shares of Arcellx in a research note on Monday, December 8th. Nine investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $112.22.

About Arcellx

Arcellx, Inc (NASDAQ: ACLX) is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of next-generation cell therapies for oncology and autoimmune diseases. The company’s proprietary ARC-SparX™ platform is designed to enable precise control over cell-surface receptor activation and to improve the safety, efficacy and durability of adoptive cell therapies. Leveraging this technology, Arcellx engineers immune cells with modular antigen-binding domains that can be exchanged to target a variety of disease-associated markers.

The company’s pipeline comprises multiple wholly owned programs in hematologic malignancies and solid tumors at various stages of preclinical and clinical development.