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

Arcellx, Inc. (NASDAQ:ACLX) Director Kavita Patel sold 1,500 shares of Arcellx stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $71.64, for a total transaction of $107,460.00. The sale was disclosed in a filing with the SEC, which is available through this link.

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

• On Tuesday, February 25th, Kavita Patel sold 1,500 shares of Arcellx stock. The stock was sold at an average price of $63.16, for a total transaction of $94,740.00.
• On Tuesday, February 4th, Kavita Patel sold 1,500 shares of Arcellx stock. The stock was sold at an average price of $64.57, for a total value of $96,855.00.
• On Tuesday, January 14th, Kavita Patel sold 1,500 shares of Arcellx stock. The shares were sold at an average price of $65.87, for a total value of $98,805.00.
• On Tuesday, December 24th, Kavita Patel sold 1,500 shares of Arcellx stock. The shares were sold at an average price of $76.97, for a total value of $115,455.00.

Arcellx Stock Performance

Shares of NASDAQ ACLX opened at $71.39 on Friday. Arcellx, Inc. has a 52-week low of $47.88 and a 52-week high of $107.37. The stock has a market cap of $3.92 billion, a P/E ratio of -100.55 and a beta of 0.32. The firm has a 50 day moving average price of $66.56 and a 200 day moving average price of $77.67.

Arcellx (NASDAQ:ACLX) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.24). The firm had revenue of $15.27 million during the quarter, compared to analyst estimates of $27.42 million. Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. Analysts predict that Arcellx, Inc. will post -1.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arcellx

Large investors have recently modified their holdings of the business. GF Fund Management CO. LTD. bought a new position in shares of Arcellx during the 4th quarter valued at about $87,000. Voloridge Investment Management LLC raised its holdings in Arcellx by 5.3% during the 4th quarter. Voloridge Investment Management LLC now owns 178,198 shares of the company’s stock worth $13,666,000 after buying an additional 8,936 shares during the period. Woodline Partners LP lifted its stake in Arcellx by 13.2% in the fourth quarter. Woodline Partners LP now owns 125,649 shares of the company’s stock valued at $9,636,000 after buying an additional 14,660 shares in the last quarter. Soleus Capital Management L.P. lifted its stake in Arcellx by 30.1% in the fourth quarter. Soleus Capital Management L.P. now owns 121,031 shares of the company’s stock valued at $9,282,000 after buying an additional 28,000 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its holdings in shares of Arcellx by 24.4% in the fourth quarter. Two Sigma Advisers LP now owns 5,600 shares of the company’s stock valued at $429,000 after buying an additional 1,100 shares during the period. 96.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ACLX. HC Wainwright reiterated a “buy” rating and set a $115.00 target price on shares of Arcellx in a research report on Tuesday, December 10th. Needham & Company LLC reissued a “buy” rating and issued a $105.00 target price on shares of Arcellx in a research note on Monday, December 9th. 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. Finally, Barclays upgraded Arcellx to a “strong-buy” rating in a research report on Friday, November 29th. Thirteen investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $108.46.

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).