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 stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $64.57, for a total transaction of $96,855.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Tuesday, January 14th, Kavita Patel sold 1,500 shares of Arcellx stock. The stock was sold at an average price of $65.87, for a total value of $98,805.00.
• On Tuesday, December 24th, Kavita Patel sold 1,500 shares of Arcellx stock. The shares were sold at an average price of $76.97, for a total transaction of $115,455.00.
• 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 shares were 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 stock was sold at an average price of $105.92, for a total transaction of $1,614,008.96.

Arcellx Trading Up 4.6 %

Arcellx stock traded up $2.96 during mid-day trading on Tuesday, hitting $67.72. The company’s stock had a trading volume of 561,892 shares, compared to its average volume of 700,800. The stock’s fifty day moving average is $75.68 and its two-hundred day moving average is $76.90. The firm has a market capitalization of $3.66 billion, a PE ratio of -95.38 and a beta of 0.29. Arcellx, Inc. has a 1 year low of $47.88 and a 1 year high of $107.37.

Arcellx (NASDAQ:ACLX) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.06. Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. The business had revenue of $26.03 million for the quarter, compared to the consensus estimate of $35.21 million. On average, equities analysts expect that Arcellx, Inc. will post -1.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ACLX shares. Morgan Stanley boosted their price objective on Arcellx from $81.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Redburn Atlantic started coverage on Arcellx in a research note on Tuesday, October 8th. They issued a “buy” rating and a $109.00 price objective for the company. Stifel Nicolaus raised their price objective on Arcellx from $83.00 to $122.00 and gave the company a “buy” rating in a report on Friday, October 18th. Truist Financial upped their target price on shares of Arcellx from $87.00 to $136.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, Piper Sandler raised their price target on shares of Arcellx from $91.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Thirteen investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $105.93.

Hedge Funds Weigh In On Arcellx

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. lifted its position in Arcellx by 21.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,944 shares of the company’s stock valued at $161,000 after acquiring an additional 347 shares during the last quarter. KBC Group NV boosted its position in shares of Arcellx by 37.3% in the 4th quarter. KBC Group NV now owns 1,388 shares of the company’s stock valued at $106,000 after purchasing an additional 377 shares during the period. High Net Worth Advisory Group LLC grew its stake in Arcellx by 6.3% during the 3rd quarter. High Net Worth Advisory Group LLC now owns 8,500 shares of the company’s stock worth $710,000 after buying an additional 500 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in Arcellx by 13.1% in the third quarter. Advisors Asset Management Inc. now owns 6,196 shares of the company’s stock valued at $517,000 after buying an additional 720 shares during the last quarter. Finally, Martingale Asset Management L P boosted its holdings in shares of Arcellx by 4.9% in the third quarter. Martingale Asset Management L P now owns 21,184 shares of the company’s stock valued at $1,769,000 after acquiring an additional 992 shares during the period. Hedge funds and other institutional investors own 96.03% of the company’s stock.

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).