Arcellx, Inc. (NASDAQ:ACLX) Director Kavita Patel Sells 1,500 Shares of Stock

Arcellx, Inc. (NASDAQ:ACLX) Director Kavita Patel sold 1,500 shares of Arcellx stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $76.97, for a total transaction of $115,455.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Kavita Patel also recently made the following trade(s):

• On Tuesday, December 3rd, Kavita Patel sold 1,500 shares of Arcellx stock. The stock was sold at an average price of $91.88, for a total transaction of $137,820.00.
• On Friday, November 8th, Kavita Patel sold 33,763 shares of Arcellx stock. The shares were sold at an average price of $104.14, for a total transaction of $3,516,078.82.
• On Monday, November 11th, Kavita Patel sold 15,238 shares of Arcellx stock. The shares were sold at an average price of $105.92, for a total value of $1,614,008.96.
• On Tuesday, October 22nd, Kavita Patel sold 1,500 shares of Arcellx stock. The stock was sold at an average price of $89.69, for a total value of $134,535.00.

Arcellx Price Performance

Shares of NASDAQ ACLX opened at $79.02 on Friday. Arcellx, Inc. has a 1 year low of $47.88 and a 1 year high of $107.37. The firm has a 50-day moving average of $87.83 and a 200 day moving average of $74.03. The stock has a market cap of $4.27 billion, a P/E ratio of -111.29 and a beta of 0.25.

Arcellx (NASDAQ:ACLX) last released its earnings results on Thursday, November 7th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $0.06. Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. The firm had revenue of $26.03 million during the quarter, compared to analyst estimates of $35.21 million. Research analysts expect that Arcellx, Inc. will post -1.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on ACLX shares. HC Wainwright reiterated a “buy” rating and set a $115.00 price target on shares of Arcellx in a report on Tuesday, December 10th. Stifel Nicolaus increased their target price on shares of Arcellx from $83.00 to $122.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Piper Sandler raised their target price on Arcellx from $91.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Truist Financial upped their price target on Arcellx from $87.00 to $136.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, Canaccord Genuity Group lifted their price objective on Arcellx from $85.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Thirteen research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $105.93.

Institutional Investors Weigh In On Arcellx

Institutional investors have recently modified their holdings of the stock. Quest Partners LLC purchased a new position in shares of Arcellx in the 2nd quarter worth about $27,000. Decheng Capital LLC bought a new stake in Arcellx during the 2nd quarter valued at about $65,000. National Bank of Canada FI raised its holdings in Arcellx by 50.0% in the second quarter. National Bank of Canada FI now owns 1,500 shares of the company’s stock worth $80,000 after buying an additional 500 shares during the last quarter. Quarry LP bought a new position in shares of Arcellx in the third quarter worth approximately $125,000. Finally, Covestor Ltd grew its holdings in shares of Arcellx by 53,766.7% during the third quarter. Covestor Ltd now owns 1,616 shares of the company’s stock valued at $135,000 after buying an additional 1,613 shares during the last quarter. 96.03% of the stock is owned by hedge funds and other institutional investors.

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).