Arcellx, Inc. (NASDAQ:ACLX) Insider Sells $932,563.44 in Stock

Arcellx, Inc. (NASDAQ:ACLX) insider Christopher Heery sold 18,168 shares of Arcellx stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $51.33, for a total transaction of $932,563.44. Following the transaction, the insider now directly owns 8,938 shares in the company, valued at approximately $458,787.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, March 22nd, Christopher Heery sold 41,365 shares of Arcellx stock. The stock was sold at an average price of $70.18, for a total transaction of $2,902,995.70.
• On Tuesday, March 26th, Christopher Heery sold 5,450 shares of Arcellx stock. The stock was sold at an average price of $69.11, for a total transaction of $376,649.50.
• On Monday, February 12th, Christopher Heery sold 2,967 shares of Arcellx stock. The stock was sold at an average price of $64.46, for a total transaction of $191,252.82.
• On Thursday, February 8th, Christopher Heery sold 3,456 shares of Arcellx stock. The stock was sold at an average price of $62.29, for a total transaction of $215,274.24.

Arcellx Price Performance

Shares of NASDAQ:ACLX opened at $52.69 on Monday. The firm has a market capitalization of $2.81 billion, a PE ratio of -35.84 and a beta of 0.24. The business has a 50 day simple moving average of $63.02 and a two-hundred day simple moving average of $56.47. Arcellx, Inc. has a 1 year low of $30.74 and a 1 year high of $75.10.

Arcellx (NASDAQ:ACLX) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of ($0.53) by $0.95. Arcellx had a negative return on equity of 20.96% and a negative net margin of 64.08%. The company had revenue of $63.15 million for the quarter, compared to the consensus estimate of $20.07 million. During the same quarter in the prior year, the company posted ($0.76) EPS. Equities research analysts expect that Arcellx, Inc. will post -1.69 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Canaccord Genuity Group raised their target price on shares of Arcellx from $66.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Morgan Stanley assumed coverage on shares of Arcellx in a research note on Thursday, March 7th. They set an “overweight” rating and a $81.00 target price for the company. Barclays raised their target price on shares of Arcellx from $62.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Stifel Nicolaus reaffirmed a “buy” rating and set a $82.00 target price on shares of Arcellx in a research note on Thursday, March 14th. Finally, Truist Financial raised their target price on shares of Arcellx from $57.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Arcellx presently has a consensus rating of “Buy” and a consensus target price of $75.64.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ACLX. Perceptive Advisors LLC grew its stake in Arcellx by 14.6% in the 4th quarter. Perceptive Advisors LLC now owns 4,544,809 shares of the company’s stock worth $252,237,000 after acquiring an additional 578,831 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Arcellx by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 2,061,819 shares of the company’s stock worth $114,431,000 after acquiring an additional 23,262 shares during the period. Vivo Capital LLC increased its position in shares of Arcellx by 16.1% during the third quarter. Vivo Capital LLC now owns 503,565 shares of the company’s stock worth $18,068,000 after acquiring an additional 69,780 shares during the period. Affinity Asset Advisors LLC increased its position in shares of Arcellx by 76.8% during the third quarter. Affinity Asset Advisors LLC now owns 400,000 shares of the company’s stock worth $14,352,000 after acquiring an additional 173,725 shares during the period. Finally, Adage Capital Partners GP L.L.C. increased its position in shares of Arcellx by 5.4% during the third quarter. Adage Capital Partners GP L.L.C. now owns 392,904 shares of the company’s stock worth $14,097,000 after acquiring an additional 20,000 shares during the period. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Arcellx Company 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).