Banque Pictet & Cie SA Acquires Shares of 5,109 Arcellx, Inc. $ACLX

Banque Pictet & Cie SA bought a new stake in shares of Arcellx, Inc. (NASDAQ:ACLX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 5,109 shares of the company’s stock, valued at approximately $333,000.

Several other large investors also recently modified their holdings of the stock. MAI Capital Management bought a new position in Arcellx in the 3rd quarter valued at about $26,000. CWM LLC increased its stake in Arcellx by 267.0% in the third quarter. CWM LLC now owns 345 shares of the company’s stock valued at $28,000 after acquiring an additional 251 shares during the last quarter. State of Wyoming bought a new position in Arcellx in the second quarter valued at approximately $28,000. Ramirez Asset Management Inc. acquired a new position in Arcellx during the third quarter valued at approximately $41,000. Finally, Abich Financial Wealth Management LLC acquired a new position in Arcellx during the third quarter valued at approximately $62,000. 96.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Guggenheim downgraded Arcellx from a “buy” rating to a “neutral” rating and reduced their target price for the company from $120.00 to $115.00 in a report on Wednesday, February 25th. TD Cowen cut Arcellx from a “strong-buy” rating to a “hold” rating in a report on Monday, March 2nd. Truist Financial upgraded Arcellx from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 20th. Canaccord Genuity Group set a $115.00 price objective on Arcellx in a research note on Monday, February 23rd. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $115.00 target price (down from $127.00) on shares of Arcellx in a research report on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, sixteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $111.87.

Insider Activity at Arcellx

In other Arcellx news, insider Christopher Heery sold 7,437 shares of the business’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $65.51, for a total transaction of $487,197.87. Following the sale, the insider directly owned 29,631 shares of the company’s stock, valued at $1,941,126.81. The trade was a 20.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Rami Elghandour sold 89,916 shares of the company’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $113.92, for a total transaction of $10,243,230.72. Following the completion of the transaction, the insider owned 276,051 shares of the company’s stock, valued at approximately $31,447,729.92. This trade represents a 24.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 109,366 shares of company stock valued at $11,526,708 in the last ninety days. 8.35% of the stock is currently owned by insiders.

Arcellx Stock Performance

Shares of ACLX opened at $114.77 on Friday. Arcellx, Inc. has a 52 week low of $47.86 and a 52 week high of $114.94. The stock has a market capitalization of $6.71 billion, a price-to-earnings ratio of -28.20 and a beta of 0.25. The stock has a fifty day moving average of $95.96 and a 200-day moving average of $83.63.

Arcellx (NASDAQ:ACLX) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($1.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($1.01). The business had revenue of $1.65 million for the quarter, compared to analyst estimates of $13.40 million. Arcellx had a negative return on equity of 55.42% and a negative net margin of 1,027.26%. As a group, equities analysts forecast that Arcellx, Inc. will post -1.58 EPS for the current year.

Arcellx Company Profile

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.