ProShare Advisors LLC Sells 2,383 Shares of Arcellx, Inc. $ACLX

ProShare Advisors LLC reduced its stake in Arcellx, Inc. (NASDAQ:ACLX) by 19.9% during the 2nd quarter, Holdings Channel reports. The firm owned 9,565 shares of the company’s stock after selling 2,383 shares during the period. ProShare Advisors LLC’s holdings in Arcellx were worth $630,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Arcellx in the first quarter valued at about $50,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Arcellx by 15.8% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,129 shares of the company’s stock valued at $140,000 after acquiring an additional 290 shares during the last quarter. Covestor Ltd raised its position in shares of Arcellx by 47.6% in the 1st quarter. Covestor Ltd now owns 2,137 shares of the company’s stock valued at $140,000 after acquiring an additional 689 shares during the period. Quarry LP bought a new position in Arcellx during the 1st quarter worth approximately $190,000. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in Arcellx by 7.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 3,428 shares of the company’s stock valued at $226,000 after purchasing an additional 228 shares during the period. Institutional investors own 96.03% of the company’s stock.

Arcellx Price Performance

ACLX opened at $89.99 on Wednesday. The company has a market capitalization of $5.20 billion, a price-to-earnings ratio of -22.90 and a beta of 0.31. The business’s 50-day moving average price is $84.32 and its two-hundred day moving average price is $72.97. Arcellx, Inc. has a 1 year low of $47.86 and a 1 year high of $96.39.

Arcellx (NASDAQ:ACLX) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.03). The firm had revenue of $4.95 million for the quarter, compared to the consensus estimate of $11.24 million. Arcellx had a negative return on equity of 51.13% and a negative net margin of 607.01%. Sell-side analysts anticipate that Arcellx, Inc. will post -1.58 earnings per share for the current fiscal year.

Insider Activity at Arcellx

In related news, insider Christopher Heery sold 340 shares of the stock in a transaction on Monday, November 17th. The shares were sold at an average price of $90.00, for a total transaction of $30,600.00. Following the completion of the transaction, the insider owned 284 shares in the company, valued at approximately $25,560. This represents a 54.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 37,486 shares of company stock valued at $3,030,736 over the last 90 days. Insiders own 8.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Scotiabank increased their target price on shares of Arcellx from $93.00 to $133.00 and gave the stock a “sector outperform” rating in a report on Thursday, July 31st. Stifel Nicolaus set a $129.00 price objective on shares of Arcellx and gave the company a “buy” rating in a research report on Thursday, October 16th. Canaccord Genuity Group lifted their target price on Arcellx from $121.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcellx in a research note on Wednesday, October 8th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $88.00 price target on shares of Arcellx in a research report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $115.50.

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).