Insider Selling: Arcellx (NASDAQ:ACLX) Insider Sells 21,034 Shares of Stock

Arcellx, Inc. (NASDAQ:ACLX) insider Christopher Heery sold 21,034 shares of Arcellx 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 sale, the insider owned 624 shares in the company, valued at approximately $50,718.72. This trade represents a 97.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, September 29th, Christopher Heery sold 73 shares of Arcellx stock. The stock was sold at an average price of $80.16, for a total transaction of $5,851.68.
• On Friday, September 26th, Christopher Heery sold 12,396 shares of Arcellx stock. The shares were sold at an average price of $80.12, for a total value of $993,167.52.
• On Friday, September 19th, Christopher Heery sold 300 shares of Arcellx stock. The stock was sold at an average price of $80.00, for a total value of $24,000.00.
• On Thursday, September 18th, Christopher Heery sold 3,343 shares of Arcellx stock. The stock was sold at an average price of $80.01, for a total value of $267,473.43.

Arcellx Price Performance

Shares of NASDAQ:ACLX opened at $82.24 on Friday. The business’s fifty day moving average price is $73.57 and its two-hundred day moving average price is $67.39. Arcellx, Inc. has a fifty-two week low of $47.86 and a fifty-two week high of $107.37. The stock has a market capitalization of $4.56 billion, a price-to-earnings ratio of -24.05 and a beta of 0.31.

Arcellx (NASDAQ:ACLX) last issued its earnings results on Thursday, August 7th. The company reported ($0.94) EPS for the quarter, beating the consensus estimate of ($1.03) by $0.09. The company had revenue of $7.55 million for the quarter, compared to the consensus estimate of $16.76 million. Arcellx had a negative net margin of 329.93% and a negative return on equity of 43.04%. Research analysts expect that Arcellx, Inc. will post -1.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ACLX has been the subject of several recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $115.00 price objective on shares of Arcellx in a report on Monday, June 16th. Cantor Fitzgerald upgraded Arcellx to a “strong-buy” rating in a research report on Monday, August 4th. Scotiabank increased their target price on Arcellx from $93.00 to $133.00 and gave the stock a “sector outperform” rating in a report on Thursday, July 31st. Finally, Citigroup started coverage on Arcellx in a research note on Tuesday, June 17th. They issued a “buy” rating and a $110.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $114.31.

Institutional Investors Weigh In On Arcellx

A number of institutional investors and hedge funds have recently made changes to their positions in ACLX. Teacher Retirement System of Texas lifted its holdings in shares of Arcellx by 1.7% during the 2nd quarter. Teacher Retirement System of Texas now owns 8,883 shares of the company’s stock valued at $585,000 after purchasing an additional 151 shares in the last quarter. Amalgamated Bank increased its stake in Arcellx by 12.0% during the 1st quarter. Amalgamated Bank now owns 1,508 shares of the company’s stock worth $99,000 after purchasing an additional 161 shares in the last quarter. Xponance Inc. raised its holdings in Arcellx by 6.2% during the 1st quarter. Xponance Inc. now owns 3,278 shares of the company’s stock worth $215,000 after buying an additional 190 shares during the period. Vanguard Personalized Indexing Management LLC lifted its stake in Arcellx by 7.1% in 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 in the last quarter. Finally, GF Fund Management CO. LTD. lifted its stake in Arcellx by 21.9% in the first quarter. GF Fund Management CO. LTD. now owns 1,384 shares of the company’s stock valued at $91,000 after buying an additional 249 shares in the last quarter. Institutional investors own 96.03% of the company’s stock.

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).