SG Americas Securities LLC Acquires New Stake in Arcellx, Inc. (NASDAQ:ACLX)

SG Americas Securities LLC acquired a new stake in shares of Arcellx, Inc. (NASDAQ:ACLX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 12,035 shares of the company’s stock, valued at approximately $1,005,000.

Several other large investors also recently added to or reduced their stakes in ACLX. Quest Partners LLC bought a new stake in Arcellx during the second quarter valued at $27,000. Plato Investment Management Ltd bought a new stake in Arcellx during the first quarter valued at $51,000. Decheng Capital LLC bought a new stake in Arcellx during the second quarter valued at $65,000. National Bank of Canada FI boosted its stake in Arcellx by 50.0% during the second quarter. National Bank of Canada FI now owns 1,500 shares of the company’s stock valued at $80,000 after buying an additional 500 shares during the period. Finally, Public Employees Retirement Association of Colorado bought a new stake in Arcellx during the second quarter valued at $178,000. Institutional investors own 96.03% of the company’s stock.

Arcellx Price Performance

NASDAQ ACLX opened at $82.90 on Friday. The stock has a market capitalization of $4.44 billion, a PE ratio of -80.49 and a beta of 0.25. Arcellx, Inc. has a 1 year low of $30.88 and a 1 year high of $88.66. The business’s 50-day moving average is $71.57 and its 200 day moving average is $61.80.

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

Insider Buying and Selling

In other Arcellx news, CFO Michelle Gilson sold 15,000 shares of Arcellx 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 of the company’s stock, valued at approximately $537,502.95. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Arcellx news, CFO Michelle Gilson sold 15,000 shares of Arcellx 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 of the company’s stock, valued at approximately $537,502.95. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Christopher Heery sold 10,901 shares of Arcellx stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $65.30, for a total value of $711,835.30. Following the sale, the insider now directly owns 9,278 shares in the company, valued at approximately $605,853.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 81,457 shares of company stock valued at $5,704,100 over the last ninety days. 6.24% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ACLX shares. Cantor Fitzgerald restated an “overweight” rating on shares of Arcellx in a research report on Monday, September 9th. Needham & Company LLC restated a “buy” rating and set a $81.00 price target on shares of Arcellx in a research report on Friday, August 9th. Redburn Atlantic started coverage on Arcellx in a research report on Tuesday. They set a “buy” rating and a $109.00 price target on the stock. Canaccord Genuity Group restated a “buy” rating and set a $85.00 price target on shares of Arcellx in a research report on Monday, July 22nd. Finally, Truist Financial restated a “buy” rating and set a $87.00 price target on shares of Arcellx in a research report on Tuesday, June 18th. Fifteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $80.38.

Arcellx Company 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).