Geode Capital Management LLC Acquires 39,781 Shares of Arcellx, Inc. (NASDAQ:ACLX)

Geode Capital Management LLC boosted its holdings in Arcellx, Inc. (NASDAQ:ACLX) by 4.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 974,967 shares of the company’s stock after acquiring an additional 39,781 shares during the period. Geode Capital Management LLC’s holdings in Arcellx were worth $81,434,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Quest Partners LLC acquired a new stake in shares of Arcellx in the second quarter valued at approximately $27,000. Decheng Capital LLC acquired a new position in Arcellx in the 2nd quarter valued at $65,000. National Bank of Canada FI lifted its position 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 acquiring an additional 500 shares during the period. Quarry LP bought a new position in shares of Arcellx in the third quarter worth $125,000. Finally, Covestor Ltd raised its stake in Arcellx by 53,766.7% in the third 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. Institutional investors own 96.03% of the company’s stock.

Insider Transactions at Arcellx

In other news, Director Kavita Patel sold 33,763 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $104.14, for a total value of $3,516,078.82. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 52,001 shares of company stock worth $5,402,443 over the last three months. 6.24% of the stock is owned by company insiders.

Arcellx Trading Up 0.4 %

Shares of ACLX stock opened at $75.54 on Friday. Arcellx, Inc. has a 1-year low of $47.88 and a 1-year high of $107.37. The stock has a market cap of $4.08 billion, a price-to-earnings ratio of -106.39 and a beta of 0.25. The stock has a 50-day moving average of $88.59 and a 200-day moving average of $73.34.

Arcellx (NASDAQ:ACLX) last released its earnings results on Thursday, November 7th. The company reported ($0.48) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.06. Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. The business had revenue of $26.03 million during the quarter, compared to the consensus estimate of $35.21 million. Sell-side analysts forecast that Arcellx, Inc. will post -1.49 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on ACLX shares. Barclays raised shares of Arcellx to a “strong-buy” rating in a report on Friday, November 29th. Truist Financial boosted their price target on Arcellx from $87.00 to $136.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Stifel Nicolaus lifted their target price on Arcellx from $83.00 to $122.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Robert W. Baird increased their target price on shares of Arcellx from $77.00 to $106.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Finally, Piper Sandler lifted their price target on shares of Arcellx from $91.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Thirteen investment 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, the stock currently has an average rating of “Buy” and a consensus price target of $105.93.

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).