Insider Selling: Arcellx, Inc. (NASDAQ:ACLX) Director Sells 9,402 Shares of Stock

Arcellx, Inc. (NASDAQ:ACLX) Director Olivia C. Ware sold 9,402 shares of the stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $55.55, for a total value of $522,281.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Olivia C. Ware also recently made the following trade(s):

• On Friday, March 15th, Olivia C. Ware sold 9,000 shares of Arcellx stock. The shares were sold at an average price of $70.40, for a total value of $633,600.00.

Arcellx Stock Up 1.8 %

ACLX stock traded up $0.95 on Thursday, reaching $54.50. 600,782 shares of the company traded hands, compared to its average volume of 450,100. Arcellx, Inc. has a one year low of $30.74 and a one year high of $75.10. The firm has a fifty day simple moving average of $65.37 and a 200-day simple moving average of $54.84.

Arcellx (NASDAQ:ACLX) last issued its earnings results on Wednesday, February 28th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of ($0.53) by $0.95. The business had revenue of $63.15 million for the quarter, compared to the consensus estimate of $20.07 million. Arcellx had a negative return on equity of 20.96% and a negative net margin of 64.08%. During the same period last year, the business posted ($0.76) EPS. On average, research analysts forecast that Arcellx, Inc. will post -1.69 EPS for the current fiscal year.

Institutional Trading of Arcellx

Several institutional investors have recently made changes to their positions in ACLX. Novo Holdings A S purchased a new stake in shares of Arcellx during the first quarter worth about $56,317,000. State Street Corp grew its position in shares of Arcellx by 761.1% during the third quarter. State Street Corp now owns 1,514,025 shares of the company’s stock worth $28,418,000 after purchasing an additional 1,338,208 shares in the last quarter. Perceptive Advisors LLC grew its position in shares of Arcellx by 47.9% during the first quarter. Perceptive Advisors LLC now owns 3,841,739 shares of the company’s stock worth $118,364,000 after purchasing an additional 1,243,434 shares in the last quarter. BlackRock Inc. grew its position in shares of Arcellx by 199.8% during the third quarter. BlackRock Inc. now owns 1,806,103 shares of the company’s stock worth $33,902,000 after purchasing an additional 1,203,592 shares in the last quarter. Finally, FMR LLC grew its position in shares of Arcellx by 4,797,730.8% during the second quarter. FMR LLC now owns 623,718 shares of the company’s stock worth $11,277,000 after purchasing an additional 623,705 shares in the last quarter. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ACLX shares. Canaccord Genuity Group increased their target price on Arcellx from $66.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Scotiabank restated an “outperform” rating and set a $82.00 target price on shares of Arcellx in a report on Thursday, April 4th. Robert W. Baird upped their price target on Arcellx from $63.00 to $77.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. HC Wainwright upped their price target on Arcellx from $60.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $82.00 price target on shares of Arcellx in a research report on Thursday, March 14th. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $74.17.

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).