Christopher Heery Sells 3,061 Shares of Arcellx, Inc. (NASDAQ:ACLX) Stock

Arcellx, Inc. (NASDAQ:ACLX) insider Christopher Heery sold 3,061 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $77.17, for a total transaction of $236,217.37. Following the sale, the insider now directly owns 32,456 shares of the company’s stock, valued at $2,504,629.52. This represents a 8.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Christopher Heery also recently made the following trade(s):

• On Friday, January 3rd, Christopher Heery sold 3,301 shares of Arcellx stock. The stock was sold at an average price of $79.55, for a total value of $262,594.55.

Arcellx Price Performance

NASDAQ ACLX opened at $77.05 on Wednesday. Arcellx, Inc. has a 12 month low of $47.88 and a 12 month high of $107.37. The stock has a market capitalization of $4.17 billion, a P/E ratio of -108.52 and a beta of 0.33. The firm’s 50-day moving average is $85.75 and its two-hundred day moving average is $75.64.

Arcellx (NASDAQ:ACLX) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.48) earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $35.21 million. As a group, analysts anticipate that Arcellx, Inc. will post -1.49 EPS for the current year.

Hedge Funds Weigh In On Arcellx

Several hedge funds have recently bought and sold shares of ACLX. Quest Partners LLC acquired a new position in Arcellx in the 2nd quarter valued at about $27,000. Decheng Capital LLC acquired a new position in shares of Arcellx in the second quarter valued at approximately $65,000. National Bank of Canada FI increased its stake in Arcellx by 50.0% during the 2nd 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 period. Quarry LP purchased a new position in Arcellx in the 3rd quarter valued at approximately $125,000. Finally, Covestor Ltd grew its stake in shares of Arcellx by 53,766.7% in the third quarter. Covestor Ltd now owns 1,616 shares of the company’s stock worth $135,000 after acquiring an additional 1,613 shares in the last quarter. Institutional investors and hedge funds own 96.03% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. HC Wainwright reiterated a “buy” rating and set a $115.00 price target on shares of Arcellx in a research report on Tuesday, December 10th. Robert W. Baird increased their target price on shares of Arcellx from $77.00 to $106.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Bank of America boosted their price target on shares of Arcellx from $84.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Redburn Atlantic started coverage on shares of Arcellx in a report on Tuesday, October 8th. They issued a “buy” rating and a $109.00 price objective for the company. Finally, UBS Group boosted their target price on Arcellx from $106.00 to $114.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Thirteen investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $105.93.

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).