Insider Selling: Arcellx (NASDAQ:ACLX) Insider Sells $30,600.00 in Stock

Arcellx, Inc. (NASDAQ:ACLX) insider Christopher Heery sold 340 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $90.00, for a total value of $30,600.00. Following the transaction, the insider directly owned 284 shares in the company, valued at $25,560. This trade represents a 54.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Tuesday, September 30th, Christopher Heery sold 21,034 shares of Arcellx stock. The shares were sold at an average price of $81.28, for a total transaction of $1,709,643.52.
• On Monday, September 29th, Christopher Heery sold 73 shares of Arcellx stock. The stock was sold at an average price of $80.16, for a total transaction of $5,851.68.
• On Friday, September 26th, Christopher Heery sold 12,396 shares of Arcellx stock. The shares were sold at an average price of $80.12, for a total transaction of $993,167.52.
• On Friday, September 19th, Christopher Heery sold 300 shares of Arcellx stock. The shares were sold at an average price of $80.00, for a total transaction of $24,000.00.
• On Thursday, September 18th, Christopher Heery sold 3,343 shares of Arcellx stock. The stock was sold at an average price of $80.01, for a total transaction of $267,473.43.

Arcellx Stock Performance

ACLX stock traded up $0.36 during trading on Monday, reaching $90.34. The stock had a trading volume of 895,423 shares, compared to its average volume of 428,656. Arcellx, Inc. has a 1-year low of $47.86 and a 1-year high of $96.39. The firm has a fifty day moving average price of $83.96 and a 200 day moving average price of $72.80.

Arcellx (NASDAQ:ACLX) last announced its 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). Arcellx had a negative net margin of 607.01% and a negative return on equity of 51.13%. The business had revenue of $4.95 million for the quarter, compared to analyst estimates of $11.24 million. On average, research analysts anticipate that Arcellx, Inc. will post -1.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Stifel Nicolaus set a $129.00 target price on Arcellx and gave the company a “buy” rating in a research report on Thursday, October 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcellx in a report on Wednesday, October 8th. Scotiabank raised their price objective on shares of Arcellx from $93.00 to $133.00 and gave the stock a “sector outperform” rating in a report on Thursday, July 31st. Cantor Fitzgerald reissued a “neutral” rating and set a $88.00 price objective on shares of Arcellx in a report on Thursday, October 9th. Finally, Canaccord Genuity Group upped their target price on shares of Arcellx from $121.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $115.50.

Institutional Trading of Arcellx

Institutional investors have recently added to or reduced their stakes in the business. Xponance Inc. lifted its position in shares of Arcellx by 6.2% in the 1st quarter. Xponance Inc. now owns 3,278 shares of the company’s stock worth $215,000 after buying an additional 190 shares during the last quarter. Readystate Asset Management LP bought a new position in Arcellx in the first quarter worth about $2,956,000. Neo Ivy Capital Management acquired a new position in Arcellx in the first quarter valued at approximately $259,000. TD Asset Management Inc boosted its stake in Arcellx by 2.7% in the first quarter. TD Asset Management Inc now owns 168,320 shares of the company’s stock valued at $11,042,000 after acquiring an additional 4,402 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of Arcellx by 19.7% during the first quarter. Vanguard Group Inc. now owns 3,985,156 shares of the company’s stock valued at $261,426,000 after purchasing an additional 655,064 shares during the last quarter. 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).