Victory Capital Management Inc. Has $14.13 Million Stock Position in Arcellx, Inc. $ACLX

Victory Capital Management Inc. reduced its holdings in shares of Arcellx, Inc. (NASDAQ:ACLX) by 13.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 172,049 shares of the company’s stock after selling 27,692 shares during the quarter. Victory Capital Management Inc. owned approximately 0.30% of Arcellx worth $14,125,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. MAI Capital Management acquired a new position in Arcellx during the third quarter worth $26,000. CWM LLC lifted its position in Arcellx by 267.0% during the 3rd quarter. CWM LLC now owns 345 shares of the company’s stock worth $28,000 after buying an additional 251 shares in the last quarter. State of Wyoming acquired a new position in shares of Arcellx during the 2nd quarter worth about $28,000. PNC Financial Services Group Inc. boosted its stake in shares of Arcellx by 183.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 751 shares of the company’s stock worth $49,000 after buying an additional 486 shares during the last quarter. Finally, Abich Financial Wealth Management LLC bought a new position in shares of Arcellx in the 3rd quarter valued at about $62,000. Institutional investors own 96.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ACLX. Rothschild & Co Redburn lowered Arcellx from a “buy” rating to a “neutral” rating and set a $82.00 target price on the stock. in a report on Thursday, February 12th. Wells Fargo & Company cut Arcellx from an “overweight” rating to an “equal weight” rating and set a $115.00 price objective on the stock. in a research note on Monday, February 23rd. Truist Financial downgraded Arcellx from a “buy” rating to a “hold” rating and cut their price objective for the company from $134.00 to $120.00 in a report on Monday, February 23rd. Stifel Nicolaus reissued a “hold” rating and issued a $115.00 target price (down from $127.00) on shares of Arcellx in a research note on Monday, February 23rd. Finally, HC Wainwright downgraded shares of Arcellx from a “buy” rating to a “neutral” rating and set a $115.00 target price on the stock. in a report on Monday, February 23rd. One equities research analyst has rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $111.87.

Arcellx Stock Down 0.1%

NASDAQ:ACLX opened at $114.39 on Wednesday. Arcellx, Inc. has a 12-month low of $47.86 and a 12-month high of $114.80. The firm has a market capitalization of $6.69 billion, a price-to-earnings ratio of -28.11 and a beta of 0.23. The stock’s 50 day moving average price is $78.68 and its two-hundred day moving average price is $78.37.

Arcellx (NASDAQ:ACLX) last posted its earnings results on Thursday, February 26th. The company reported ($1.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($1.01). Arcellx had a negative return on equity of 55.42% and a negative net margin of 1,027.26%.The business had revenue of $1.65 million for the quarter, compared to analyst estimates of $13.40 million. Equities research analysts expect that Arcellx, Inc. will post -1.58 EPS for the current year.

Insiders Place Their Bets

In other Arcellx news, insider Christopher Heery sold 7,437 shares of the company’s stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $65.51, for a total value of $487,197.87. Following the transaction, the insider directly owned 29,631 shares in the company, valued at $1,941,126.81. The trade was a 20.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Rami Elghandour sold 89,916 shares of the firm’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $113.92, for a total transaction of $10,243,230.72. Following the sale, the insider owned 276,051 shares of the company’s stock, valued at approximately $31,447,729.92. This represents a 24.57% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 109,366 shares of company stock valued at $11,526,708. Company insiders own 8.35% of the company’s stock.

Arcellx Company Profile

Arcellx, Inc (NASDAQ: ACLX) is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of next-generation cell therapies for oncology and autoimmune diseases. The company’s proprietary ARC-SparX™ platform is designed to enable precise control over cell-surface receptor activation and to improve the safety, efficacy and durability of adoptive cell therapies. Leveraging this technology, Arcellx engineers immune cells with modular antigen-binding domains that can be exchanged to target a variety of disease-associated markers.

The company’s pipeline comprises multiple wholly owned programs in hematologic malignancies and solid tumors at various stages of preclinical and clinical development.