Entropy Technologies LP Sells 890 Shares of Arcellx, Inc. (NASDAQ:ACLX)

Entropy Technologies LP reduced its stake in Arcellx, Inc. (NASDAQ:ACLX) by 5.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,526 shares of the company’s stock after selling 890 shares during the quarter. Entropy Technologies LP’s holdings in Arcellx were worth $1,010,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of ACLX. High Net Worth Advisory Group LLC grew its holdings in shares of Arcellx by 14.3% in the first quarter. High Net Worth Advisory Group LLC now owns 8,000 shares of the company’s stock valued at $556,000 after acquiring an additional 1,000 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of Arcellx by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 4,241 shares of the company’s stock worth $235,000 after buying an additional 1,076 shares during the last quarter. ProShare Advisors LLC grew its position in Arcellx by 12.0% during the first quarter. ProShare Advisors LLC now owns 10,590 shares of the company’s stock valued at $737,000 after buying an additional 1,131 shares during the period. Wellington Management Group LLP grew its position in Arcellx by 2.5% during the third quarter. Wellington Management Group LLP now owns 57,634 shares of the company’s stock valued at $2,068,000 after buying an additional 1,432 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Arcellx by 36.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,405 shares of the company’s stock worth $355,000 after buying an additional 1,701 shares during the last quarter. 96.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ACLX shares. Truist Financial reaffirmed a “buy” rating and issued a $87.00 price target on shares of Arcellx in a report on Tuesday, June 18th. Evercore ISI started coverage on shares of Arcellx in a report on Tuesday, May 14th. They issued an “outperform” rating and a $85.00 price target on the stock. HC Wainwright lowered their target price on shares of Arcellx from $82.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, May 13th. Stifel Nicolaus raised their price target on Arcellx from $82.00 to $83.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Finally, Scotiabank reiterated an “outperform” rating and set a $82.00 price objective on shares of Arcellx in a research note on Thursday, April 4th. Thirteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $78.00.

Insider Transactions at Arcellx

In other news, insider Christopher Heery sold 18,168 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $51.33, for a total value of $932,563.44. Following the sale, the insider now directly owns 8,938 shares of the company’s stock, valued at $458,787.54. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Christopher Heery sold 18,168 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $51.33, for a total transaction of $932,563.44. Following the sale, the insider now owns 8,938 shares in the company, valued at $458,787.54. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Kavita Patel sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $56.63, for a total transaction of $84,945.00. The disclosure for this sale can be found here. Insiders have sold a total of 98,337 shares of company stock valued at $5,297,056 in the last ninety days. 6.24% of the stock is currently owned by corporate insiders.

Arcellx Price Performance

Arcellx stock traded down $0.41 during trading hours on Wednesday, reaching $65.51. The stock had a trading volume of 591,513 shares, compared to its average volume of 465,465. The company has a fifty day simple moving average of $54.38 and a 200-day simple moving average of $58.73. The stock has a market cap of $3.50 billion, a PE ratio of -63.60 and a beta of 0.23. Arcellx, Inc. has a 52 week low of $30.88 and a 52 week high of $75.10.

Arcellx (NASDAQ:ACLX) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.51) by $0.37. The business had revenue of $39.26 million for the quarter, compared to analysts’ expectations of $20.67 million. Arcellx had a negative return on equity of 13.11% and a negative net margin of 38.39%. The business’s revenue was up 119.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.58) EPS. Research analysts predict that Arcellx, Inc. will post -1.7 earnings per share for the current fiscal year.

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).