Arcellx, Inc. $ACLX Stock Position Decreased by Rhumbline Advisers

Rhumbline Advisers trimmed its position in shares of Arcellx, Inc. (NASDAQ:ACLX) by 13.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,140 shares of the company’s stock after selling 8,611 shares during the quarter. Rhumbline Advisers owned approximately 0.10% of Arcellx worth $3,631,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in ACLX. PNC Financial Services Group Inc. raised its position in Arcellx by 183.4% during the second quarter. PNC Financial Services Group Inc. now owns 751 shares of the company’s stock valued at $49,000 after acquiring an additional 486 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Arcellx during the 1st quarter valued at $50,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Arcellx by 15.8% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,129 shares of the company’s stock valued at $140,000 after purchasing an additional 290 shares in the last quarter. Covestor Ltd lifted its stake 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 purchasing an additional 689 shares during the last quarter. Finally, Quarry LP bought a new stake in Arcellx in the first quarter worth $190,000. Institutional investors and hedge funds own 96.03% of the company’s stock.

Insider Activity

In other news, insider Christopher Heery sold 21,034 shares of the company’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $81.28, for a total transaction of $1,709,643.52. Following the completion of the transaction, the insider owned 624 shares of the company’s stock, valued at approximately $50,718.72. This represents a 97.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have sold 37,486 shares of company stock worth $3,030,736. Insiders own 8.35% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Wolfe Research initiated coverage on Arcellx in a report on Tuesday, November 18th. They set a “peer perform” rating on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcellx in a research report on Wednesday, October 8th. Guggenheim reissued a “buy” rating on shares of Arcellx in a research report on Monday, November 24th. Stifel Nicolaus set a $129.00 price objective on shares of Arcellx and gave the stock a “buy” rating in a research note on Thursday, October 16th. Finally, Canaccord Genuity Group raised their target price on shares of Arcellx from $121.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Arcellx presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.50.

Arcellx Trading Up 1.6%

ACLX opened at $69.56 on Friday. The business has a 50 day moving average of $83.90 and a 200-day moving average of $74.48. The stock has a market capitalization of $4.02 billion, a price-to-earnings ratio of -17.70 and a beta of 0.34. Arcellx, Inc. has a 1-year low of $47.86 and a 1-year high of $94.07.

Arcellx (NASDAQ:ACLX) last announced its earnings results 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). Arcellx had a negative return on equity of 51.13% and a negative net margin of 607.01%.The company had revenue of $4.95 million for the quarter, compared to the consensus estimate of $11.24 million. Equities analysts predict that Arcellx, Inc. will post -1.58 EPS for the current year.

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).