Insider Selling: Arcellx, Inc. (NASDAQ:ACLX) CFO Sells 15,000 Shares of Stock

Arcellx, Inc. (NASDAQ:ACLX) CFO Michelle Gilson sold 15,000 shares of Arcellx stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $77.73, for a total transaction of $1,165,950.00. Following the transaction, the chief financial officer now directly owns 6,915 shares in the company, valued at $537,502.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Michelle Gilson also recently made the following trade(s):

• On Wednesday, June 26th, Michelle Gilson sold 12,877 shares of Arcellx stock. The shares were sold at an average price of $53.70, for a total transaction of $691,494.90.

Arcellx Price Performance

NASDAQ ACLX opened at $80.55 on Thursday. The company has a market capitalization of $4.31 billion, a price-to-earnings ratio of -78.20 and a beta of 0.23. Arcellx, Inc. has a 12 month low of $30.88 and a 12 month high of $82.97. The company’s fifty day moving average price is $65.34 and its two-hundred day moving average price is $60.46.

Arcellx (NASDAQ:ACLX) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.51) EPS for the quarter, topping the consensus estimate of ($0.52) by $0.01. The business had revenue of $27.38 million for the quarter, compared to analysts’ expectations of $22.04 million. Arcellx had a negative net margin of 37.23% and a negative return on equity of 12.42%. The business’s revenue was up 91.5% compared to the same quarter last year. As a group, analysts anticipate that Arcellx, Inc. will post -1.65 EPS for the current year.

Institutional Investors Weigh In On Arcellx

A number of institutional investors have recently made changes to their positions in the company. Perceptive Advisors LLC lifted its stake in Arcellx by 14.6% during the fourth quarter. Perceptive Advisors LLC now owns 4,544,809 shares of the company’s stock worth $252,237,000 after purchasing an additional 578,831 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Arcellx by 8.1% during the first quarter. Vanguard Group Inc. now owns 2,228,856 shares of the company’s stock worth $155,017,000 after purchasing an additional 167,037 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Arcellx by 6.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,344,553 shares of the company’s stock worth $93,514,000 after buying an additional 84,373 shares during the last quarter. Great Point Partners LLC boosted its holdings in shares of Arcellx by 64.0% in the 2nd quarter. Great Point Partners LLC now owns 492,000 shares of the company’s stock valued at $27,153,000 after buying an additional 192,000 shares during the period. Finally, Affinity Asset Advisors LLC boosted its holdings in shares of Arcellx by 53.3% in the 2nd quarter. Affinity Asset Advisors LLC now owns 460,000 shares of the company’s stock valued at $25,387,000 after buying an additional 160,000 shares during the period. 96.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ACLX. Canaccord Genuity Group reiterated a “buy” rating and issued a $85.00 price target on shares of Arcellx in a report on Monday, July 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $81.00 target price on shares of Arcellx in a research report on Friday, August 9th. Truist Financial reiterated a “buy” rating and set a $87.00 target price on shares of Arcellx in a report on Tuesday, June 18th. Piper Sandler started coverage on Arcellx in a report on Friday, May 31st. They issued an “overweight” rating and a $70.00 price target for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcellx in a research report on Monday, September 9th. Fourteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Arcellx currently has a consensus rating of “Buy” and a consensus price target of $78.00.

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).