Christopher Heery Sells 6,131 Shares of Arcellx (NASDAQ:ACLX) Stock

Arcellx, Inc. (NASDAQ:ACLX) insider Christopher Heery sold 6,131 shares of the stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $64.15, for a total transaction of $393,303.65. Following the transaction, the insider owned 37,068 shares of the company’s stock, valued at $2,377,912.20. This represents a 14.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• 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 value of $30,600.00.

Arcellx Price Performance

NASDAQ:ACLX traded down $1.40 during trading hours on Monday, hitting $64.87. The stock had a trading volume of 557,782 shares, compared to its average volume of 876,848. The company has a 50 day simple moving average of $73.69 and a two-hundred day simple moving average of $74.88. The firm has a market capitalization of $3.75 billion, a price-to-earnings ratio of -16.51 and a beta of 0.36. Arcellx, Inc. has a one year low of $47.86 and a one year high of $94.07.

Arcellx (NASDAQ:ACLX) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.99) earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $11.24 million. Equities research analysts anticipate that Arcellx, Inc. will post -1.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

ACLX has been the subject of a number of analyst reports. Citigroup reiterated a “buy” rating on shares of Arcellx in a report on Monday, November 24th. Wells Fargo & Company assumed coverage on Arcellx in a research report on Monday, December 22nd. They issued an “overweight” rating and a $100.00 price objective on the stock. UBS Group began coverage on Arcellx in a research note on Wednesday, January 7th. They set a “buy” rating on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcellx in a research note on Wednesday, October 8th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $130.00 price objective on shares of Arcellx in a research report on Monday, December 8th. Nine analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $112.22.

Hedge Funds Weigh In On Arcellx

Institutional investors and hedge funds have recently made changes to their positions in the business. Teacher Retirement System of Texas grew its holdings in shares of Arcellx by 1.7% during the second quarter. Teacher Retirement System of Texas now owns 8,883 shares of the company’s stock valued at $585,000 after buying an additional 151 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its position 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 buying an additional 228 shares during the period. CWM LLC increased its holdings in Arcellx by 267.0% during the third quarter. CWM LLC now owns 345 shares of the company’s stock valued at $28,000 after buying an additional 251 shares during the last quarter. Integrated Wealth Concepts LLC boosted its stake in shares of Arcellx by 9.0% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 3,423 shares of the company’s stock worth $281,000 after acquiring an additional 283 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position 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 acquiring an additional 290 shares during the period. 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.