JPMorgan Chase & Co. Trims Stake in Arcellx, Inc. (NASDAQ:ACLX)

JPMorgan Chase & Co. lessened its holdings in Arcellx, Inc. (NASDAQ:ACLX) by 13.3% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 250,123 shares of the company’s stock after selling 38,336 shares during the period. JPMorgan Chase & Co.’s holdings in Arcellx were worth $20,888,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ACLX. Janus Henderson Group PLC raised its holdings in shares of Arcellx by 5.7% in the 3rd quarter. Janus Henderson Group PLC now owns 2,011,950 shares of the company’s stock valued at $168,026,000 after acquiring an additional 109,332 shares in the last quarter. RA Capital Management L.P. increased its position in shares of Arcellx by 15.4% in the third quarter. RA Capital Management L.P. now owns 1,851,479 shares of the company’s stock worth $154,617,000 after purchasing an additional 247,465 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Arcellx by 4.3% in the third quarter. Geode Capital Management LLC now owns 974,967 shares of the company’s stock worth $81,434,000 after purchasing an additional 39,781 shares during the last quarter. Lord Abbett & CO. LLC raised its stake in Arcellx by 2.1% in the third quarter. Lord Abbett & CO. LLC now owns 891,848 shares of the company’s stock valued at $74,478,000 after purchasing an additional 18,004 shares in the last quarter. Finally, Great Point Partners LLC lifted its position in Arcellx by 64.0% during the second quarter. Great Point Partners LLC now owns 492,000 shares of the company’s stock valued at $27,153,000 after purchasing an additional 192,000 shares during the last quarter. Institutional investors own 96.03% of the company’s stock.

Arcellx Stock Performance

NASDAQ ACLX opened at $72.26 on Thursday. The stock has a market cap of $3.91 billion, a P/E ratio of -101.77 and a beta of 0.33. Arcellx, Inc. has a fifty-two week low of $47.88 and a fifty-two week high of $107.37. The stock has a 50 day simple moving average of $85.75 and a two-hundred day simple moving average of $75.64.

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

Analyst Ratings Changes

Several analysts have recently weighed in on ACLX shares. Truist Financial raised their price objective on shares of Arcellx from $87.00 to $136.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Robert W. Baird raised their price target on Arcellx from $77.00 to $106.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Piper Sandler upped their price objective on Arcellx from $91.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Barclays raised Arcellx to a “strong-buy” rating in a report on Friday, November 29th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $105.00 target price on shares of Arcellx in a research note on Monday, December 9th. Thirteen equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $105.93.

Insider Activity at Arcellx

In other Arcellx news, insider Christopher Heery sold 3,061 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $77.17, for a total value of $236,217.37. Following the sale, the insider now owns 32,456 shares in the company, valued at approximately $2,504,629.52. This represents a 8.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavita Patel sold 1,500 shares of Arcellx stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $89.69, for a total transaction of $134,535.00. The disclosure for this sale can be found here. Insiders have sold 59,863 shares of company stock worth $6,016,710 over the last 90 days. 6.24% of the stock is owned by company insiders.

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).