Northern Trust Corp Purchases 26,625 Shares of Arcellx, Inc. (NASDAQ:ACLX)

Northern Trust Corp boosted its position in Arcellx, Inc. (NASDAQ:ACLX) by 6.9% in the 4th quarter, Holdings Channel reports. The firm owned 410,733 shares of the company’s stock after buying an additional 26,625 shares during the quarter. Northern Trust Corp’s holdings in Arcellx were worth $31,499,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ACLX. Headlands Technologies LLC bought a new stake in shares of Arcellx during the 4th quarter worth approximately $41,000. KBC Group NV lifted its position in shares of Arcellx by 37.3% during the fourth quarter. KBC Group NV now owns 1,388 shares of the company’s stock worth $106,000 after purchasing an additional 377 shares during the last quarter. Avanza Fonder AB purchased a new stake in shares of Arcellx during the fourth quarter valued at $184,000. Kazazian Asset Management LLC bought a new position in shares of Arcellx in the fourth quarter worth about $204,000. Finally, Landscape Capital Management L.L.C. bought a new position in shares of Arcellx in the fourth quarter worth about $214,000. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Analyst Ratings Changes

Separately, Scotiabank lowered their price objective on shares of Arcellx from $133.00 to $93.00 and set a “sector outperform” rating for the company in a research report on Friday. Thirteen research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $109.31.

Arcellx Stock Performance

NASDAQ ACLX opened at $57.77 on Friday. The company has a market cap of $3.18 billion, a PE ratio of -81.37 and a beta of 0.34. The firm’s 50 day moving average price is $64.30 and its 200-day moving average price is $72.69. Arcellx, Inc. has a 52-week low of $47.86 and a 52-week high of $107.37.

Arcellx (NASDAQ:ACLX) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.29). The company had revenue of $8.13 million during the quarter, compared to analysts’ expectations of $19.51 million. Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. On average, analysts forecast that Arcellx, Inc. will post -1.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Arcellx

In other news, Director Kavita Patel sold 1,500 shares of Arcellx stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $71.64, for a total value of $107,460.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Christopher Heery sold 10,155 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $63.79, for a total transaction of $647,787.45. Following the sale, the insider now directly owns 37,486 shares of the company’s stock, valued at $2,391,231.94. The trade was a 21.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,455 shares of company stock worth $3,407,903 over the last quarter. Insiders own 6.24% of the company’s stock.

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).