Vestal Point Capital LP Decreases Stake in Arcellx, Inc. (NASDAQ:ACLX)

Vestal Point Capital LP lessened its stake in Arcellx, Inc. (NASDAQ:ACLX) by 29.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 475,000 shares of the company’s stock after selling 200,000 shares during the quarter. Arcellx accounts for 2.2% of Vestal Point Capital LP’s investment portfolio, making the stock its 17th largest position. Vestal Point Capital LP owned approximately 0.88% of Arcellx worth $36,428,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in ACLX. Avanza Fonder AB purchased a new stake in Arcellx during the fourth quarter worth about $184,000. KBC Group NV boosted its stake in shares of Arcellx by 37.3% during the 4th quarter. KBC Group NV now owns 1,388 shares of the company’s stock worth $106,000 after acquiring an additional 377 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of Arcellx by 10.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,466 shares of the company’s stock worth $879,000 after acquiring an additional 1,127 shares during the period. Legato Capital Management LLC increased its stake in Arcellx by 36.1% in the 4th quarter. Legato Capital Management LLC now owns 5,999 shares of the company’s stock valued at $460,000 after purchasing an additional 1,591 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in Arcellx by 1.9% during the fourth quarter. Rhumbline Advisers now owns 59,903 shares of the company’s stock worth $4,594,000 after purchasing an additional 1,125 shares during the last quarter. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Arcellx Stock Up 0.6%

ACLX opened at $58.78 on Monday. The firm has a market cap of $3.24 billion, a P/E ratio of -82.79 and a beta of 0.34. The business’s fifty day simple moving average is $63.20 and its 200 day simple moving average is $71.66. Arcellx, Inc. has a 52 week low of $47.86 and a 52 week high of $107.37.

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

Analyst Ratings Changes

Separately, Scotiabank lowered their target price on Arcellx from $133.00 to $93.00 and set a “sector outperform” rating on the stock in a report on Friday, May 9th. Thirteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $111.33.

Insider Buying and Selling

In other Arcellx news, insider Christopher Heery sold 10,155 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $63.79, for a total value of $647,787.45. Following the sale, the insider now directly owns 37,486 shares of the company’s stock, valued at approximately $2,391,231.94. This trade represents a 21.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kavita Patel sold 1,500 shares of Arcellx stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $64.20, for a total value of $96,300.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,455 shares of company stock worth $3,407,903. 6.24% of the stock is owned by insiders.

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).