Arcellx, Inc. (NASDAQ:ACLX) Shares Sold by Candriam S.C.A.

Candriam S.C.A. trimmed its holdings in shares of Arcellx, Inc. (NASDAQ:ACLX) by 18.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 194,996 shares of the company’s stock after selling 45,367 shares during the period. Candriam S.C.A.’s holdings in Arcellx were worth $14,954,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. KBC Group NV grew its stake in shares of Arcellx by 37.3% during the fourth quarter. KBC Group NV now owns 1,388 shares of the company’s stock worth $106,000 after acquiring an additional 377 shares during the last quarter. Quarry LP acquired a new stake in Arcellx in the 3rd quarter worth approximately $125,000. Quest Partners LLC grew its position in Arcellx by 210.1% during the 3rd quarter. Quest Partners LLC now owns 1,532 shares of the company’s stock worth $128,000 after purchasing an additional 1,038 shares during the last quarter. Covestor Ltd increased its stake in Arcellx by 53,766.7% during the 3rd quarter. Covestor Ltd now owns 1,616 shares of the company’s stock valued at $135,000 after purchasing an additional 1,613 shares in the last quarter. Finally, Avanza Fonder AB purchased a new position in shares of Arcellx in the fourth quarter worth $184,000. 96.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Arcellx

In other Arcellx news, Director Kavita Patel sold 1,500 shares of the stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $76.97, for a total transaction of $115,455.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher Heery sold 3,061 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $77.17, for a total value of $236,217.37. Following the completion of the transaction, the insider now owns 32,456 shares in the company, valued at approximately $2,504,629.52. This trade represents a 8.62 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 64,370 shares of company stock valued at $4,189,641. 6.24% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Barclays raised shares of Arcellx to a “strong-buy” rating in a report on Friday, November 29th. HC Wainwright reaffirmed a “buy” rating and set a $115.00 price target on shares of Arcellx in a research report on Tuesday, December 10th. Truist Financial increased their price objective on Arcellx from $87.00 to $136.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $105.00 target price on shares of Arcellx in a report on Monday, December 9th. Finally, UBS Group raised their price target on shares of Arcellx from $106.00 to $114.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Thirteen investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $108.46.

Arcellx Trading Down 0.4 %

Shares of ACLX opened at $68.60 on Friday. The firm has a market cap of $3.77 billion, a P/E ratio of -96.62 and a beta of 0.32. Arcellx, Inc. has a 12 month low of $47.88 and a 12 month high of $107.37. The stock’s 50 day moving average is $67.82 and its two-hundred day moving average is $77.53.

Arcellx (NASDAQ:ACLX) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.87) EPS for the quarter, missing the consensus estimate of ($0.63) by ($0.24). The company had revenue of $15.27 million during the quarter, compared to analysts’ expectations of $27.42 million. Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. Equities research analysts forecast that Arcellx, Inc. will post -1.58 EPS for the current year.

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).