Kavita Patel Sells 1,500 Shares of Arcellx, Inc. (NASDAQ:ACLX) Stock

Arcellx, Inc. (NASDAQ:ACLX) Director Kavita Patel sold 1,500 shares of the company’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $76.97, for a total value of $115,455.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Kavita Patel also recently made the following trade(s):

• On Tuesday, December 3rd, Kavita Patel sold 1,500 shares of Arcellx stock. The stock was sold at an average price of $91.88, for a total transaction of $137,820.00.
• On Friday, November 8th, Kavita Patel sold 33,763 shares of Arcellx stock. The stock was sold at an average price of $104.14, for a total transaction of $3,516,078.82.
• On Monday, November 11th, Kavita Patel sold 15,238 shares of Arcellx stock. The shares were sold at an average price of $105.92, for a total transaction of $1,614,008.96.
• On Tuesday, October 22nd, Kavita Patel sold 1,500 shares of Arcellx stock. The stock was sold at an average price of $89.69, for a total value of $134,535.00.

Arcellx Stock Performance

Shares of NASDAQ ACLX opened at $79.08 on Friday. The company has a market capitalization of $4.28 billion, a PE ratio of -111.38 and a beta of 0.25. The company’s fifty day moving average price is $87.51 and its 200 day moving average price is $74.06. Arcellx, Inc. has a 1 year low of $47.88 and a 1 year high of $107.37.

Arcellx (NASDAQ:ACLX) last posted its earnings results on Thursday, November 7th. The company reported ($0.48) EPS for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.06. The firm had revenue of $26.03 million for the quarter, compared to analysts’ expectations of $35.21 million. Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. On average, equities analysts expect that Arcellx, Inc. will post -1.49 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ACLX shares. Needham & Company LLC restated a “buy” rating and set a $105.00 target price on shares of Arcellx in a research note on Monday, December 9th. Bank of America raised their price target on shares of Arcellx from $84.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Piper Sandler raised their target price on Arcellx from $91.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Canaccord Genuity Group boosted their price target on Arcellx from $85.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, Truist Financial raised their price objective on Arcellx from $87.00 to $136.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Thirteen equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Arcellx presently has an average rating of “Buy” and a consensus price target of $105.93.

Institutional Trading of Arcellx

A number of institutional investors and hedge funds have recently made changes to their positions in ACLX. Janus Henderson Group PLC grew its stake in Arcellx by 5.7% in the 3rd quarter. Janus Henderson Group PLC now owns 2,011,950 shares of the company’s stock valued at $168,026,000 after acquiring an additional 109,332 shares during the period. RA Capital Management L.P. lifted its holdings in Arcellx by 15.4% during the third quarter. RA Capital Management L.P. now owns 1,851,479 shares of the company’s stock valued at $154,617,000 after purchasing an additional 247,465 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Arcellx by 4.3% in the third quarter. Geode Capital Management LLC now owns 974,967 shares of the company’s stock valued at $81,434,000 after purchasing an additional 39,781 shares during the period. Lord Abbett & CO. LLC increased its stake in shares of Arcellx by 2.1% during the third quarter. Lord Abbett & CO. LLC now owns 891,848 shares of the company’s stock worth $74,478,000 after purchasing an additional 18,004 shares in the last quarter. Finally, Great Point Partners LLC raised its position in shares of Arcellx by 64.0% during the 2nd quarter. Great Point Partners LLC now owns 492,000 shares of the company’s stock worth $27,153,000 after purchasing an additional 192,000 shares during the last quarter. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

About Arcellx

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).