Arcellx, Inc. (NASDAQ:ACLX) Position Lessened by Perceptive Advisors LLC

Perceptive Advisors LLC reduced its position in Arcellx, Inc. (NASDAQ:ACLX) by 1.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 3,889,739 shares of the company’s stock after selling 43,817 shares during the period. Arcellx comprises approximately 5.1% of Perceptive Advisors LLC’s holdings, making the stock its 3rd biggest holding. Perceptive Advisors LLC owned 7.27% of Arcellx worth $214,675,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Quest Partners LLC acquired a new position in shares of Arcellx in the 2nd quarter valued at $27,000. Plato Investment Management Ltd purchased a new stake in Arcellx during the first quarter valued at about $51,000. Decheng Capital LLC purchased a new stake in Arcellx during the second quarter valued at about $65,000. National Bank of Canada FI raised its holdings in shares of Arcellx by 50.0% in the 2nd quarter. National Bank of Canada FI now owns 1,500 shares of the company’s stock worth $80,000 after purchasing an additional 500 shares during the period. Finally, Public Employees Retirement Association of Colorado acquired a new position in shares of Arcellx in the 2nd quarter valued at about $178,000. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Arcellx Stock Performance

ACLX opened at $82.76 on Monday. The company has a market capitalization of $4.43 billion, a P/E ratio of -80.35 and a beta of 0.23. The company has a 50-day moving average of $68.40 and a 200-day moving average of $61.12. Arcellx, Inc. has a 1-year low of $30.88 and a 1-year high of $88.66.

Arcellx (NASDAQ:ACLX) last issued its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $22.04 million. The firm’s revenue for the quarter was up 91.5% compared to the same quarter last year. As a group, sell-side analysts expect that Arcellx, Inc. will post -1.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ACLX shares. Cantor Fitzgerald reissued an “overweight” rating on shares of Arcellx in a research report on Monday, September 9th. Truist Financial reissued a “buy” rating and set a $87.00 price target on shares of Arcellx in a research report on Tuesday, June 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $81.00 price objective on shares of Arcellx in a research report on Friday, August 9th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $85.00 target price on shares of Arcellx in a research report on Monday, July 22nd. Fourteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Arcellx presently has an average rating of “Buy” and a consensus target price of $78.00.

Insiders Place Their Bets

In related news, Director Kavita Patel sold 1,500 shares of the company’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $56.63, for a total transaction of $84,945.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Kavita Patel sold 1,500 shares of Arcellx stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $56.63, for a total transaction of $84,945.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Michelle Gilson sold 15,000 shares of Arcellx stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $77.73, for a total value 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 86,628 shares of company stock valued at $6,009,342 over the last quarter. Insiders own 6.24% of the company’s stock.

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).