Y Intercept Hong Kong Ltd Raises Position in Arcellx, Inc. (NASDAQ:ACLX)

Y Intercept Hong Kong Ltd increased its holdings in Arcellx, Inc. (NASDAQ:ACLX) by 98.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 7,735 shares of the company’s stock after buying an additional 3,831 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Arcellx were worth $593,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of ACLX. First Turn Management LLC bought a new position in Arcellx during the third quarter valued at $17,896,000. Charles Schwab Investment Management Inc. raised its position in shares of Arcellx by 4.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 328,093 shares of the company’s stock worth $27,399,000 after buying an additional 14,200 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in shares of Arcellx by 37.0% in the third quarter. Harbor Capital Advisors Inc. now owns 27,896 shares of the company’s stock worth $2,330,000 after buying an additional 7,534 shares in the last quarter. Lord Abbett & CO. LLC raised its position in shares of Arcellx by 2.1% in the third quarter. Lord Abbett & CO. LLC now owns 891,848 shares of the company’s stock worth $74,478,000 after buying an additional 18,004 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in Arcellx during the third quarter valued at about $800,000. 96.03% of the stock is owned by institutional investors.

Arcellx Trading Up 5.6 %

Shares of ACLX opened at $64.82 on Friday. The firm has a market cap of $3.51 billion, a PE ratio of -91.29 and a beta of 0.29. The firm has a fifty day simple moving average of $68.52 and a two-hundred day simple moving average of $77.36. Arcellx, Inc. has a 1-year low of $47.88 and a 1-year high of $107.37.

Arcellx (NASDAQ:ACLX) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.24). The business had revenue of $15.27 million for the quarter, compared to the consensus estimate of $27.42 million. Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. As a group, research analysts forecast that Arcellx, Inc. will post -1.58 EPS for the current fiscal year.

Insider Buying and Selling

In other Arcellx news, insider Rami Elghandour sold 38,300 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $62.02, for a total transaction of $2,375,366.00. Following the completion of the transaction, the insider now owns 149,186 shares of the company’s stock, valued at $9,252,515.72. This represents a 20.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavita Patel sold 1,500 shares of the stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $76.97, for a total transaction of $115,455.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 65,870 shares of company stock valued at $4,327,461. Company insiders own 6.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ACLX shares. Bank of America raised their price target on Arcellx from $84.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Truist Financial raised their target price on Arcellx from $87.00 to $136.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Robert W. Baird lifted their price objective on Arcellx from $77.00 to $106.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Barclays raised Arcellx to a “strong-buy” rating in a research report on Friday, November 29th. Finally, Morgan Stanley lifted their target price on shares of Arcellx from $81.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Thirteen investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Arcellx presently has an average rating of “Buy” and a consensus price target of $108.46.

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).