State of New Jersey Common Pension Fund D Purchases Shares of 11,756 Arcellx, Inc. (NASDAQ:ACLX)

State of New Jersey Common Pension Fund D bought a new stake in shares of Arcellx, Inc. (NASDAQ:ACLX) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 11,756 shares of the company’s stock, valued at approximately $649,000.

Other institutional investors have also bought and sold shares of the company. Perceptive Advisors LLC increased its position in Arcellx by 14.6% during the fourth quarter. Perceptive Advisors LLC now owns 4,544,809 shares of the company’s stock valued at $252,237,000 after acquiring an additional 578,831 shares during the last quarter. Bamco Inc. NY grew its stake in shares of Arcellx by 292.1% during the first quarter. Bamco Inc. NY now owns 248,993 shares of the company’s stock valued at $17,317,000 after buying an additional 185,493 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Arcellx by 8.1% in the first quarter. Vanguard Group Inc. now owns 2,228,856 shares of the company’s stock worth $155,017,000 after buying an additional 167,037 shares during the period. PFM Health Sciences LP raised its holdings in shares of Arcellx by 39.5% in the fourth quarter. PFM Health Sciences LP now owns 335,198 shares of the company’s stock worth $18,603,000 after buying an additional 94,860 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Arcellx by 6.7% during 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 acquiring an additional 84,373 shares during the last quarter. Institutional investors own 96.03% of the company’s stock.

Insider Transactions at Arcellx

In related news, insider Christopher Heery sold 27,451 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $67.03, for a total transaction of $1,840,040.53. Following the completion of the transaction, the insider now directly owns 9,278 shares in the company, valued at $621,904.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Arcellx news, insider Christopher Heery sold 27,451 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $67.03, for a total value of $1,840,040.53. Following the completion of the transaction, the insider now directly owns 9,278 shares of the company’s stock, valued at $621,904.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michelle Gilson sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $77.73, for a total transaction of $1,165,950.00. Following the sale, the chief financial officer now directly owns 6,915 shares in the company, valued at approximately $537,502.95. The disclosure for this sale can be found here. Insiders have sold 106,628 shares of company stock worth $7,117,142 over the last 90 days. 6.24% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

Arcellx Stock Up 0.2 %

Shares of Arcellx stock opened at $84.60 on Thursday. Arcellx, Inc. has a 52 week low of $30.88 and a 52 week high of $88.66. The firm has a market capitalization of $4.53 billion, a P/E ratio of -82.14 and a beta of 0.23. The company has a 50 day moving average price of $67.55 and a 200 day moving average price of $60.97.

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