Avanza Fonder AB Purchases New Stake in Arcellx, Inc. (NASDAQ:ACLX)

Avanza Fonder AB acquired a new position in shares of Arcellx, Inc. (NASDAQ:ACLX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,398 shares of the company’s stock, valued at approximately $184,000.

Other large investors also recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D acquired a new position in shares of Arcellx during the 2nd quarter valued at about $649,000. Renaissance Technologies LLC purchased a new position in Arcellx during the second quarter worth about $1,494,000. Public Employees Retirement Association of Colorado acquired a new position in Arcellx in the 2nd quarter valued at about $178,000. Integral Health Asset Management LLC grew its stake in shares of Arcellx by 7.8% in the 2nd quarter. Integral Health Asset Management LLC now owns 275,000 shares of the company’s stock valued at $15,177,000 after buying an additional 20,000 shares during the period. Finally, Great Point Partners LLC increased its holdings in shares of Arcellx by 64.0% during the 2nd quarter. Great Point Partners LLC now owns 492,000 shares of the company’s stock worth $27,153,000 after buying an additional 192,000 shares during the last quarter. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

Arcellx Trading Down 0.8 %

Arcellx stock opened at $66.48 on Monday. The firm has a market capitalization of $3.60 billion, a P/E ratio of -93.63 and a beta of 0.33. Arcellx, Inc. has a twelve month low of $47.88 and a twelve month high of $107.37. The stock’s fifty day simple moving average is $82.16 and its 200-day simple moving average is $76.43.

Arcellx (NASDAQ:ACLX) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.48) earnings per share for the quarter, topping the consensus estimate of ($0.54) by $0.06. The company had revenue of $26.03 million for the quarter, compared to the consensus estimate 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 -1.58 earnings per share for the current year.

Insider Activity at Arcellx

In other Arcellx news, Director Kavita Patel sold 1,500 shares of Arcellx stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $89.69, for a total transaction of $134,535.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher Heery sold 3,061 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $77.17, for a total value of $236,217.37. Following the transaction, the insider now directly owns 32,456 shares of the company’s stock, valued at approximately $2,504,629.52. This represents a 8.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 64,916 shares of company stock valued at $6,377,335 over the last 90 days. 6.24% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently commented on ACLX shares. Redburn Atlantic assumed coverage on Arcellx in a report on Tuesday, October 8th. They issued a “buy” rating and a $109.00 price objective on the stock. UBS Group upped their price target on Arcellx from $106.00 to $114.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Morgan Stanley raised their price objective on Arcellx from $81.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Barclays raised shares of Arcellx to a “strong-buy” rating in a research report on Friday, November 29th. Finally, Bank of America lifted their price target on shares of Arcellx from $84.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Thirteen equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $105.93.

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).