Sherbrooke Park Advisers LLC Acquires Shares of 3,805 Arcellx, Inc. (NASDAQ:ACLX)

Sherbrooke Park Advisers LLC acquired a new stake in Arcellx, Inc. (NASDAQ:ACLX) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,805 shares of the company’s stock, valued at approximately $292,000.

A number of other large investors have also recently made changes to their positions in ACLX. Avanza Fonder AB bought a new position in shares of Arcellx in the fourth quarter valued at $184,000. KBC Group NV lifted its stake in shares of Arcellx by 37.3% in the fourth quarter. KBC Group NV now owns 1,388 shares of the company’s stock valued at $106,000 after buying an additional 377 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of Arcellx by 10.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,466 shares of the company’s stock valued at $879,000 after buying an additional 1,127 shares in the last quarter. Legato Capital Management LLC lifted its stake in shares of Arcellx by 36.1% in the fourth quarter. Legato Capital Management LLC now owns 5,999 shares of the company’s stock valued at $460,000 after buying an additional 1,591 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of Arcellx by 1.9% in the fourth quarter. Rhumbline Advisers now owns 59,903 shares of the company’s stock valued at $4,594,000 after buying an additional 1,125 shares in the last quarter. 96.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Scotiabank dropped their price target on shares of Arcellx from $133.00 to $93.00 and set a “sector outperform” rating on the stock in a research report on Friday, May 9th. Thirteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $111.33.

Arcellx Stock Performance

Shares of ACLX stock opened at $58.78 on Monday. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of -82.79 and a beta of 0.34. Arcellx, Inc. has a 52 week low of $47.86 and a 52 week high of $107.37. The firm’s 50-day simple moving average is $63.20 and its two-hundred day simple moving average is $71.66.

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

Insiders Place Their Bets

In other news, insider Rami Elghandour sold 38,300 shares of Arcellx stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $62.02, for a total value of $2,375,366.00. Following the completion of the transaction, the insider now owns 149,186 shares in the company, valued at $9,252,515.72. This trade represents a 20.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavita Patel sold 1,500 shares of Arcellx stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $63.16, for a total transaction of $94,740.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,455 shares of company stock valued at $3,407,903. Company 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).