Integral Health Asset Management LLC Buys 20,000 Shares of Arcellx, Inc. (NASDAQ:ACLX)

Integral Health Asset Management LLC grew its stake in shares of Arcellx, Inc. (NASDAQ:ACLX) by 7.8% during the second quarter, HoldingsChannel reports. The firm owned 275,000 shares of the company’s stock after purchasing an additional 20,000 shares during the quarter. Arcellx accounts for approximately 1.4% of Integral Health Asset Management LLC’s holdings, making the stock its 21st biggest position. Integral Health Asset Management LLC’s holdings in Arcellx were worth $15,177,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Principal Financial Group Inc. boosted its stake in shares of Arcellx by 246.3% during the 1st quarter. Principal Financial Group Inc. now owns 36,835 shares of the company’s stock valued at $2,562,000 after purchasing an additional 26,197 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Arcellx by 6.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,344,553 shares of the company’s stock worth $93,514,000 after acquiring an additional 84,373 shares in the last quarter. Seven Eight Capital LP bought a new stake in Arcellx during the first quarter worth about $1,207,000. Bamco Inc. NY boosted its stake in Arcellx by 292.1% during the first quarter. Bamco Inc. NY now owns 248,993 shares of the company’s stock worth $17,317,000 after acquiring an additional 185,493 shares in the last quarter. Finally, Advisory Alpha LLC bought a new stake in Arcellx during the first quarter worth about $209,000. Institutional investors own 96.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ACLX. Truist Financial reissued a “buy” rating and set a $87.00 price objective on shares of Arcellx in a research note on Tuesday, June 18th. Canaccord Genuity Group reissued a “buy” rating and set a $85.00 price objective on shares of Arcellx in a research note on Monday, July 22nd. Piper Sandler began coverage on shares of Arcellx in a research note on Friday, May 31st. They set an “overweight” rating and a $70.00 price objective on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcellx in a report on Monday, September 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $81.00 target price on shares of Arcellx in a report on Friday, August 9th. Fourteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $78.00.

Insider Activity

In other Arcellx news, insider Christopher Heery sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $55.39, for a total transaction of $1,107,800.00. Following the completion of the sale, the insider now directly owns 9,278 shares of the company’s stock, valued at $513,908.42. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Arcellx news, insider Christopher Heery sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $55.39, for a total transaction of $1,107,800.00. Following the completion of the sale, the insider now directly owns 9,278 shares of the company’s stock, valued at $513,908.42. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kavita Patel sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $56.63, for a total transaction of $84,945.00. The disclosure for this sale can be found here. Insiders sold 129,505 shares of company stock valued at $8,351,337 over the last three months. Insiders own 6.24% of the company’s stock.

Arcellx Stock Up 1.4 %

ACLX opened at $86.61 on Monday. The firm has a 50 day moving average price of $66.35 and a 200-day moving average price of $60.62. Arcellx, Inc. has a twelve month low of $30.88 and a twelve month high of $88.66. The stock has a market capitalization of $4.63 billion, a price-to-earnings ratio of -84.09 and a beta of 0.23.

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