Rafferty Asset Management LLC Cuts Holdings in Arcellx, Inc. $ACLX

Rafferty Asset Management LLC decreased its holdings in Arcellx, Inc. (NASDAQ:ACLX) by 12.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,240 shares of the company’s stock after selling 7,131 shares during the period. Rafferty Asset Management LLC owned about 0.09% of Arcellx worth $4,043,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Xponance Inc. purchased a new position in shares of Arcellx in the 3rd quarter valued at $221,000. US Bancorp DE grew its stake in Arcellx by 57.2% in the third quarter. US Bancorp DE now owns 1,797 shares of the company’s stock valued at $148,000 after purchasing an additional 654 shares during the last quarter. MAI Capital Management bought a new position in Arcellx in the third quarter worth about $26,000. TD Asset Management Inc lifted its position in shares of Arcellx by 124.9% during the third quarter. TD Asset Management Inc now owns 232,708 shares of the company’s stock valued at $19,105,000 after buying an additional 129,248 shares during the last quarter. Finally, Monaco Asset Management SAM bought a new stake in shares of Arcellx in the 3rd quarter valued at about $6,452,000. Institutional investors own 96.03% of the company’s stock.

Insider Buying and Selling

In other news, insider Christopher Heery sold 5,882 shares of the company’s stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $68.51, for a total value of $402,975.82. Following the sale, the insider directly owned 23,749 shares of the company’s stock, valued at $1,627,043.99. This represents a 19.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Rami Elghandour sold 89,916 shares of the stock in a transaction on Friday, February 27th. The stock was sold at an average price of $113.92, for a total transaction of $10,243,230.72. Following the completion of the sale, the insider owned 276,051 shares in the company, valued at $31,447,729.92. The trade was a 24.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 109,366 shares of company stock worth $11,526,708. 8.35% of the stock is owned by insiders.

Arcellx Price Performance

NASDAQ ACLX opened at $114.05 on Wednesday. The company has a market cap of $6.67 billion, a price-to-earnings ratio of -28.02 and a beta of 0.23. The stock’s fifty day moving average price is $73.76 and its 200 day moving average price is $76.86. Arcellx, Inc. has a 1 year low of $47.86 and a 1 year high of $114.38.

Arcellx (NASDAQ:ACLX) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($1.01) earnings per share for the quarter, meeting the consensus estimate of ($1.01). The business had revenue of $1.65 million for the quarter, compared to the consensus estimate of $13.40 million. Arcellx had a negative return on equity of 55.42% and a negative net margin of 1,027.26%. Research analysts expect that Arcellx, Inc. will post -1.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ACLX. Wells Fargo & Company lowered shares of Arcellx from an “overweight” rating to an “equal weight” rating and set a $115.00 price objective for the company. in a research note on Monday, February 23rd. Truist Financial downgraded Arcellx from a “buy” rating to a “hold” rating and reduced their price target for the stock from $134.00 to $120.00 in a research report on Monday, February 23rd. Needham & Company LLC lowered Arcellx from a “buy” rating to a “hold” rating in a report on Monday, February 23rd. Rothschild & Co Redburn cut Arcellx from a “buy” rating to a “neutral” rating and set a $82.00 price objective for the company. in a research report on Thursday, February 12th. Finally, TD Cowen downgraded Arcellx from a “strong-buy” rating to a “hold” rating in a research note on Monday. One investment analyst has rated the stock with a Buy rating, seventeen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Arcellx currently has an average rating of “Hold” and a consensus target price of $111.87.

Arcellx 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.