Rafferty Asset Management LLC Trims Stock Position in Arcellx, Inc. $ACLX

Rafferty Asset Management LLC lessened its stake in Arcellx, Inc. (NASDAQ:ACLX) by 12.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 49,240 shares of the company’s stock after selling 7,131 shares during the quarter. Rafferty Asset Management LLC’s holdings in Arcellx were worth $4,043,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ACLX. MAI Capital Management acquired a new position in Arcellx in the third quarter valued at approximately $26,000. CWM LLC increased its holdings in shares of Arcellx by 267.0% during the 3rd quarter. CWM LLC now owns 345 shares of the company’s stock valued at $28,000 after purchasing an additional 251 shares in the last quarter. State of Wyoming acquired a new position in shares of Arcellx in the 2nd quarter valued at $28,000. Abich Financial Wealth Management LLC purchased a new stake in Arcellx during the third quarter worth $62,000. Finally, PNC Financial Services Group Inc. grew 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. 96.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Guggenheim downgraded shares of Arcellx from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $120.00 to $115.00 in a research report on Wednesday, February 25th. Robert W. Baird reaffirmed a “neutral” rating and issued a $115.00 price target (up from $106.00) on shares of Arcellx in a report on Monday, February 23rd. Canaccord Genuity Group set a $115.00 price target on Arcellx in a research report on Monday, February 23rd. TD Cowen lowered Arcellx from a “strong-buy” rating to a “hold” rating in a report on Monday. Finally, Wolfe Research began coverage on Arcellx in a research report on Tuesday, November 18th. They issued a “peer perform” rating for the company. One equities research analyst has rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Arcellx currently has a consensus rating of “Hold” and a consensus target price of $111.87.

Insider Activity at Arcellx

In related news, insider Christopher Heery sold 5,882 shares of the business’s stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $68.51, for a total transaction of $402,975.82. Following the completion of the sale, the insider directly owned 23,749 shares in the company, valued at approximately $1,627,043.99. The trade was a 19.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rami Elghandour sold 89,916 shares of the firm’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $113.92, for a total value of $10,243,230.72. Following the completion of the transaction, the insider owned 276,051 shares in the company, valued at $31,447,729.92. The trade was a 24.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 109,366 shares of company stock valued at $11,526,708 over the last quarter. 8.35% of the stock is owned by company insiders.

Arcellx Stock Performance

Shares of Arcellx stock opened at $114.05 on Wednesday. Arcellx, Inc. has a twelve month low of $47.86 and a twelve month high of $114.38. The firm has a market capitalization of $6.67 billion, a PE ratio of -28.02 and a beta of 0.23. The firm’s 50-day moving average price is $73.76 and its 200 day moving average price is $76.86.

Arcellx (NASDAQ:ACLX) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($1.01) EPS for the quarter, hitting the consensus estimate of ($1.01). Arcellx had a negative return on equity of 55.42% and a negative net margin of 1,027.26%.The company had revenue of $1.65 million during the quarter, compared to analyst estimates of $13.40 million. On average, sell-side analysts predict that Arcellx, Inc. will post -1.58 EPS for the current fiscal year.

Arcellx Company Profile

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.