Arcellx (NASDAQ:ACLX) Insider Sells $487,197.87 in Stock

Arcellx, Inc. (NASDAQ:ACLX) insider Christopher Heery sold 7,437 shares of Arcellx 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 sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Christopher Heery also recently made the following trade(s):

• On Monday, January 12th, Christopher Heery sold 6,131 shares of Arcellx stock. The stock was sold at an average price of $64.15, for a total value of $393,303.65.
• On Monday, November 17th, Christopher Heery sold 340 shares of Arcellx stock. The shares were sold at an average price of $90.00, for a total transaction of $30,600.00.

Arcellx Trading Up 2.9%

ACLX stock traded up $1.88 during trading on Tuesday, hitting $66.75. The company had a trading volume of 520,715 shares, compared to its average volume of 817,595. The business has a 50 day moving average of $73.26 and a 200 day moving average of $74.89. The firm has a market capitalization of $3.86 billion, a price-to-earnings ratio of -16.98 and a beta of 0.36. Arcellx, Inc. has a fifty-two week low of $47.86 and a fifty-two week high of $94.07.

Arcellx (NASDAQ:ACLX) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.03). The company 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%. As a group, equities analysts predict that Arcellx, Inc. will post -1.58 EPS for the current year.

Wall Street Analysts Forecast Growth

ACLX has been the topic of several research analyst reports. Cantor Fitzgerald reiterated a “neutral” rating and set a $88.00 price target on shares of Arcellx in a research report on Thursday, October 9th. Guggenheim reaffirmed a “buy” rating on shares of Arcellx in a research note on Monday, November 24th. Needham & Company LLC reiterated a “buy” rating and issued a $105.00 price target on shares of Arcellx in a research report on Monday, December 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcellx in a report on Wednesday, October 8th. Finally, UBS Group started coverage on shares of Arcellx in a research note on Wednesday, January 7th. They issued a “buy” rating on the stock. Nine equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Arcellx presently has an average rating of “Moderate Buy” and an average target price of $112.22.

Institutional Trading of Arcellx

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. MAI Capital Management purchased a new position in Arcellx during the 3rd quarter valued at $26,000. CWM LLC lifted its stake in shares of Arcellx by 267.0% in the 3rd quarter. CWM LLC now owns 345 shares of the company’s stock valued at $28,000 after purchasing an additional 251 shares during the period. State of Wyoming purchased a new stake in Arcellx in the second quarter worth $28,000. Ramirez Asset Management Inc. bought a new position in Arcellx in the third quarter worth $41,000. Finally, PNC Financial Services Group Inc. lifted 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 buying an additional 486 shares during the period. Hedge funds and other institutional investors own 96.03% of the company’s stock.

About Arcellx

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.