Bryce Point Capital LLC Takes $573,000 Position in Arcellx, Inc. (NASDAQ:ACLX)

Bryce Point Capital LLC purchased a new position in shares of Arcellx, Inc. (NASDAQ:ACLX) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 7,475 shares of the company’s stock, valued at approximately $573,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Xponance Inc. boosted its stake in Arcellx by 8.6% in the fourth quarter. Xponance Inc. now owns 3,088 shares of the company’s stock worth $237,000 after purchasing an additional 244 shares in the last quarter. KBC Group NV lifted its position in Arcellx by 37.3% during the 4th quarter. KBC Group NV now owns 1,388 shares of the company’s stock worth $106,000 after buying an additional 377 shares in the last quarter. Swiss National Bank lifted its position in Arcellx by 0.8% during the 4th quarter. Swiss National Bank now owns 63,400 shares of the company’s stock worth $4,862,000 after buying an additional 500 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Arcellx in the 4th quarter valued at about $41,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Arcellx by 9.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,836 shares of the company’s stock worth $754,000 after acquiring an additional 858 shares during the last quarter. 96.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on ACLX shares. Needham & Company LLC reissued a “buy” rating and issued a $105.00 price target on shares of Arcellx in a report on Monday, December 9th. UBS Group lifted their target price on Arcellx from $106.00 to $114.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $115.00 price target on shares of Arcellx in a research note on Tuesday, December 10th. Thirteen investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Arcellx presently has a consensus rating of “Buy” and a consensus price target of $108.46.

Insider Activity

In other news, Director Kavita Patel sold 1,500 shares of Arcellx stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $64.57, for a total transaction of $96,855.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Christopher Heery sold 3,301 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $79.55, for a total value of $262,594.55. Following the completion of the transaction, the insider now owns 35,517 shares of the company’s stock, valued at $2,825,377.35. This represents a 8.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 64,370 shares of company stock valued at $4,181,646 in the last quarter. Company insiders own 6.24% of the company’s stock.

Arcellx Trading Up 10.8 %

Shares of ACLX opened at $67.23 on Thursday. The stock has a market cap of $3.69 billion, a P/E ratio of -94.69 and a beta of 0.32. Arcellx, Inc. has a 1 year low of $47.88 and a 1 year high of $107.37. The stock’s 50-day moving average price is $66.82 and its two-hundred day moving average price is $77.49.

Arcellx (NASDAQ:ACLX) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.87) earnings per share for the quarter, missing the consensus estimate of ($0.63) by ($0.24). Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. The firm had revenue of $15.27 million for the quarter, compared to the consensus estimate of $27.42 million. As a group, equities 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).