Wellington Management Group LLP Increases Stock Position in Arcellx, Inc. (NASDAQ:ACLX)

Wellington Management Group LLP increased its position in Arcellx, Inc. (NASDAQ:ACLX) by 15.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,968 shares of the company’s stock after buying an additional 2,768 shares during the quarter. Wellington Management Group LLP’s holdings in Arcellx were worth $1,751,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new position in shares of Arcellx in the 2nd quarter valued at about $27,000. Decheng Capital LLC acquired a new position in Arcellx during the second quarter valued at approximately $65,000. National Bank of Canada FI grew its stake in Arcellx by 50.0% during the second quarter. National Bank of Canada FI now owns 1,500 shares of the company’s stock worth $80,000 after buying an additional 500 shares during the period. Quarry LP acquired a new stake in shares of Arcellx in the third quarter worth $125,000. Finally, Covestor Ltd raised its stake in shares of Arcellx by 53,766.7% in the 3rd quarter. Covestor Ltd now owns 1,616 shares of the company’s stock valued at $135,000 after acquiring an additional 1,613 shares during the period. Institutional investors and hedge funds own 96.03% of the company’s stock.

Insider Activity at Arcellx

In other Arcellx news, Director Kavita Patel sold 15,238 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $105.92, for a total transaction of $1,614,008.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 52,001 shares of company stock worth $5,402,443 in the last 90 days. 6.24% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have commented on the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Arcellx in a research report on Monday, September 9th. Barclays upgraded Arcellx to a “strong-buy” rating in a report on Friday, November 29th. Redburn Atlantic initiated coverage on Arcellx in a report on Tuesday, October 8th. They issued a “buy” rating and a $109.00 price target for the company. Piper Sandler increased their price objective on shares of Arcellx from $91.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Finally, Morgan Stanley boosted their target price on shares of Arcellx from $81.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Thirteen research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $105.93.

Arcellx Price Performance

Arcellx stock opened at $75.43 on Thursday. The company has a market cap of $4.08 billion, a PE ratio of -106.24 and a beta of 0.25. Arcellx, Inc. has a 12 month low of $47.88 and a 12 month high of $107.37. The company has a fifty day moving average price of $89.10 and a two-hundred day moving average price of $73.16.

Arcellx (NASDAQ:ACLX) last issued its earnings results on Thursday, November 7th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.06. The firm had revenue of $26.03 million for the quarter, compared to analysts’ expectations of $35.21 million. Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. Equities research analysts anticipate that Arcellx, Inc. will post -1.49 earnings per share for the current year.

About Arcellx

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).