Franklin Resources Inc. Has $923,000 Stock Holdings in Arcellx, Inc. $ACLX

Franklin Resources Inc. decreased its holdings in shares of Arcellx, Inc. (NASDAQ:ACLX) by 48.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,020 shares of the company’s stock after selling 12,987 shares during the period. Franklin Resources Inc.’s holdings in Arcellx were worth $923,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in ACLX. Vestal Point Capital LP lifted its stake in Arcellx by 402.7% in the first quarter. Vestal Point Capital LP now owns 2,387,720 shares of the company’s stock valued at $156,634,000 after buying an additional 1,912,720 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in shares of Arcellx by 135.9% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,665,138 shares of the company’s stock valued at $109,234,000 after acquiring an additional 959,216 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Arcellx by 19.7% during the 1st quarter. Vanguard Group Inc. now owns 3,985,156 shares of the company’s stock valued at $261,426,000 after acquiring an additional 655,064 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Arcellx by 42.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 976,968 shares of the company’s stock valued at $64,333,000 after acquiring an additional 293,387 shares during the period. Finally, RA Capital Management L.P. boosted its stake in Arcellx by 8.9% during the first quarter. RA Capital Management L.P. now owns 3,036,527 shares of the company’s stock worth $199,196,000 after acquiring an additional 249,200 shares in the last quarter. 96.03% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Christopher Heery sold 340 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $90.00, for a total value of $30,600.00. Following the completion of the sale, the insider owned 284 shares in the company, valued at $25,560. This represents a 54.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders have sold 37,486 shares of company stock valued at $3,030,736. Corporate insiders own 8.35% of the company’s stock.

Arcellx Stock Performance

Shares of ACLX opened at $69.56 on Friday. The firm has a market capitalization of $4.02 billion, a P/E ratio of -17.70 and a beta of 0.34. Arcellx, Inc. has a 52 week low of $47.86 and a 52 week high of $94.07. The stock has a 50 day moving average price of $83.90 and a two-hundred day moving average price of $74.48.

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 the consensus estimate of ($0.96) by ($0.03). Arcellx had a negative net margin of 607.01% and a negative return on equity of 51.13%. The company had revenue of $4.95 million for the quarter, compared to analysts’ expectations of $11.24 million. On average, equities analysts forecast that Arcellx, Inc. will post -1.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ACLX shares. Wolfe Research started coverage on shares of Arcellx in a research note on Tuesday, November 18th. They issued a “peer perform” rating for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcellx in a research report on Wednesday, October 8th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $88.00 price target on shares of Arcellx in a research note on Thursday, October 9th. Canaccord Genuity Group raised their price objective on Arcellx from $121.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Finally, Stifel Nicolaus set a $129.00 price objective on Arcellx and gave the company a “buy” rating in a report on Thursday, October 16th. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Arcellx presently has an average rating of “Moderate Buy” and a consensus price target of $115.50.

Arcellx 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).