Arcellx (NASDAQ:ACLX) Insider Sells $402,975.82 in Stock

Arcellx, Inc. (NASDAQ:ACLX) insider Christopher Heery sold 5,882 shares of the business’s stock in a transaction dated 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 owned 23,749 shares in the company, valued at approximately $1,627,043.99. This trade represents a 19.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Christopher Heery also recently made the following trade(s):

• On Tuesday, January 13th, Christopher Heery sold 7,437 shares of Arcellx stock. The stock was sold at an average price of $65.51, for a total value of $487,197.87.
• On Monday, January 12th, Christopher Heery sold 6,131 shares of Arcellx stock. The stock was sold at an average price of $64.15, for a total value of $393,303.65.
• On Monday, November 17th, Christopher Heery sold 340 shares of Arcellx stock. The shares were sold at an average price of $90.00, for a total value of $30,600.00.

Arcellx Stock Performance

Shares of Arcellx stock opened at $68.94 on Friday. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of -17.54 and a beta of 0.36. The stock has a 50 day moving average price of $72.16 and a 200-day moving average price of $74.83. Arcellx, Inc. has a one year low of $47.86 and a one year high of $94.07.

Arcellx (NASDAQ:ACLX) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($0.99) earnings per share for the quarter, missing the consensus estimate of ($0.96) by ($0.03). The company had revenue of $4.95 million for 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%. Sell-side analysts predict that Arcellx, Inc. will post -1.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. MAI Capital Management bought a new stake in Arcellx during the 3rd quarter valued at $26,000. CWM LLC increased its stake in shares of Arcellx by 267.0% during the third quarter. CWM LLC now owns 345 shares of the company’s stock valued at $28,000 after buying an additional 251 shares during the period. State of Wyoming bought a new stake in shares of Arcellx in the second quarter valued at about $28,000. Ramirez Asset Management Inc. purchased a new stake in Arcellx in the third quarter worth about $41,000. Finally, PNC Financial Services Group Inc. grew its holdings in Arcellx by 183.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 751 shares of the company’s stock worth $49,000 after acquiring an additional 486 shares in the last quarter. Institutional investors own 96.03% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on ACLX. Needham & Company LLC reiterated a “buy” rating and set a $105.00 price target on shares of Arcellx in a report on Monday, December 8th. Cantor Fitzgerald restated a “neutral” rating and set a $88.00 target price on shares of Arcellx in a research report on Thursday, October 9th. UBS Group assumed coverage on Arcellx in a report on Wednesday, January 7th. They issued a “buy” rating on the stock. Guggenheim reissued a “buy” rating on shares of Arcellx in a research note on Monday, November 24th. Finally, Wolfe Research initiated coverage on Arcellx in a research report on Tuesday, November 18th. They issued a “peer perform” rating on the stock. Nine research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.22.

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.