Voya Investment Management LLC Reduces Stock Holdings in Arcellx, Inc. $ACLX

Voya Investment Management LLC reduced its position in shares of Arcellx, Inc. (NASDAQ:ACLX) by 10.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 247,408 shares of the company’s stock after selling 28,268 shares during the period. Voya Investment Management LLC owned 0.45% of Arcellx worth $20,312,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. State of Wyoming purchased a new stake in shares of Arcellx in the 2nd quarter valued at approximately $28,000. PNC Financial Services Group Inc. lifted its holdings in Arcellx by 183.4% in the second quarter. PNC Financial Services Group Inc. now owns 751 shares of the company’s stock valued at $49,000 after acquiring an additional 486 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Arcellx in the first quarter worth approximately $50,000. Mirae Asset Global Investments Co. Ltd. grew its position in Arcellx by 15.8% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,129 shares of the company’s stock worth $140,000 after acquiring an additional 290 shares during the period. Finally, Quarry LP acquired a new stake in Arcellx during the first quarter worth $190,000. 96.03% of the stock is owned by hedge funds and other institutional investors.

Arcellx Price Performance

Shares of NASDAQ:ACLX opened at $63.96 on Monday. The firm has a market capitalization of $3.70 billion, a PE ratio of -16.27 and a beta of 0.34. The firm’s 50-day moving average is $80.80 and its two-hundred day moving average is $74.91. Arcellx, Inc. has a 1 year low of $47.86 and a 1 year high of $94.07.

Arcellx (NASDAQ:ACLX) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.99) EPS for the quarter, missing the consensus estimate of ($0.96) by ($0.03). The business had revenue of $4.95 million during the quarter, compared to analysts’ expectations of $11.24 million. Arcellx had a negative net margin of 607.01% and a negative return on equity of 51.13%. Analysts expect that Arcellx, Inc. will post -1.58 EPS for the current fiscal year.

Insider Buying and Selling

In other Arcellx news, insider Christopher Heery sold 21,034 shares of the business’s stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $81.28, for a total value of $1,709,643.52. Following the completion of the transaction, the insider owned 624 shares in the company, valued at $50,718.72. The trade was a 97.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last three months, insiders have sold 33,843 shares of company stock valued at $2,739,263. Company insiders own 8.35% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on ACLX shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcellx in a research note on Wednesday, October 8th. Cantor Fitzgerald restated a “neutral” rating and issued a $88.00 price objective on shares of Arcellx in a report on Thursday, October 9th. Wells Fargo & Company began coverage on shares of Arcellx in a research report on Monday. They issued an “overweight” rating and a $100.00 target price on the stock. Stifel Nicolaus set a $129.00 target price on shares of Arcellx and gave the stock a “buy” rating in a research note on Thursday, October 16th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $105.00 price target on shares of Arcellx in a research note on Monday, December 8th. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Arcellx presently has an average rating of “Moderate Buy” and an average price target of $113.75.

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.