Arcellx, Inc. (NASDAQ:ACLX) Director Kavita Patel Sells 1,500 Shares

Arcellx, Inc. (NASDAQ:ACLX) Director Kavita Patel sold 1,500 shares of Arcellx stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $71.64, for a total value of $107,460.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Kavita Patel also recently made the following trade(s):

• On Tuesday, February 25th, Kavita Patel sold 1,500 shares of Arcellx stock. The stock was sold at an average price of $63.16, for a total value of $94,740.00.
• On Tuesday, February 4th, Kavita Patel sold 1,500 shares of Arcellx stock. The stock was sold at an average price of $64.57, for a total value of $96,855.00.
• On Tuesday, January 14th, Kavita Patel sold 1,500 shares of Arcellx stock. The stock was sold at an average price of $65.87, for a total value of $98,805.00.
• On Tuesday, December 24th, Kavita Patel sold 1,500 shares of Arcellx stock. The stock was sold at an average price of $76.97, for a total value of $115,455.00.

Arcellx Stock Down 3.9 %

Shares of NASDAQ:ACLX opened at $69.87 on Wednesday. The company has a market capitalization of $3.84 billion, a price-to-earnings ratio of -98.41 and a beta of 0.32. Arcellx, Inc. has a 52 week low of $47.88 and a 52 week high of $107.37. The firm has a 50 day moving average of $66.59 and a 200 day moving average of $77.76.

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

Wall Street Analyst Weigh In

ACLX has been the subject of several recent research reports. Needham & Company LLC reiterated a “buy” rating and issued a $105.00 price target on shares of Arcellx in a research report on Monday, December 9th. HC Wainwright reiterated a “buy” rating and issued a $115.00 price target on shares of Arcellx in a research report on Tuesday, December 10th. Barclays upgraded Arcellx to a “strong-buy” rating in a research report on Friday, November 29th. Finally, UBS Group boosted their target price on Arcellx from $106.00 to $114.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Thirteen research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Arcellx has a consensus rating of “Buy” and a consensus target price of $108.46.

Hedge Funds Weigh In On Arcellx

A number of large investors have recently bought and sold shares of ACLX. Xponance Inc. increased its position in shares of Arcellx by 8.6% during 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 increased its position 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 purchasing an additional 377 shares in the last quarter. Swiss National Bank increased its position in shares of Arcellx by 0.8% during the fourth quarter. Swiss National Bank now owns 63,400 shares of the company’s stock worth $4,862,000 after purchasing an additional 500 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Arcellx during the fourth quarter worth $41,000. Finally, Advisors Asset Management Inc. increased its position in shares of Arcellx by 13.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 6,196 shares of the company’s stock valued at $517,000 after acquiring an additional 720 shares during the period. 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).