China Universal Asset Management Co. Ltd. Has $863,000 Holdings in Arcellx, Inc. (NASDAQ:ACLX)

China Universal Asset Management Co. Ltd. boosted its holdings in shares of Arcellx, Inc. (NASDAQ:ACLX) by 64.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,339 shares of the company’s stock after acquiring an additional 4,052 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Arcellx were worth $863,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Quest Partners LLC acquired a new stake in Arcellx during the 2nd quarter worth about $27,000. Plato Investment Management Ltd acquired a new stake in shares of Arcellx during the 1st quarter valued at about $51,000. Decheng Capital LLC acquired a new stake in shares of Arcellx during the 2nd quarter valued at about $65,000. National Bank of Canada FI lifted its holdings in shares of Arcellx by 50.0% during the 2nd quarter. National Bank of Canada FI now owns 1,500 shares of the company’s stock valued at $80,000 after buying an additional 500 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Arcellx by 21.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,944 shares of the company’s stock valued at $161,000 after buying an additional 347 shares during the last quarter. 96.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Arcellx news, insider Christopher Heery sold 27,451 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $67.03, for a total value of $1,840,040.53. Following the completion of the sale, the insider now directly owns 9,278 shares in the company, valued at $621,904.34. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Kavita Patel sold 1,500 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $74.41, for a total transaction of $111,615.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christopher Heery sold 27,451 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $67.03, for a total value of $1,840,040.53. Following the transaction, the insider now owns 9,278 shares of the company’s stock, valued at approximately $621,904.34. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 70,556 shares of company stock worth $5,033,845 over the last ninety days. 6.24% of the stock is currently owned by corporate insiders.

Arcellx Trading Up 2.7 %

NASDAQ ACLX opened at $87.25 on Wednesday. The stock has a 50-day simple moving average of $79.09 and a 200 day simple moving average of $63.83. The company has a market capitalization of $4.67 billion, a PE ratio of -81.85 and a beta of 0.25. Arcellx, Inc. has a 12 month low of $32.42 and a 12 month high of $97.54.

Arcellx (NASDAQ:ACLX) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.51) EPS for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.01. The business had revenue of $27.38 million during the quarter, compared to the consensus estimate of $22.04 million. Arcellx had a negative return on equity of 12.42% and a negative net margin of 37.23%. The company’s quarterly revenue was up 91.5% compared to the same quarter last year. As a group, sell-side analysts predict that Arcellx, Inc. will post -1.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ACLX shares. Needham & Company LLC reiterated a “buy” rating and set a $96.00 price target (up from $81.00) on shares of Arcellx in a report on Friday, October 18th. Stifel Nicolaus boosted their target price on Arcellx from $83.00 to $122.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Canaccord Genuity Group lifted their price target on Arcellx from $85.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Redburn Atlantic started coverage on Arcellx in a research report on Tuesday, October 8th. They issued a “buy” rating and a $109.00 price target on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Arcellx in a research report on Monday, September 9th. Thirteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $89.75.

Arcellx 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).