Arcellx, Inc. (NASDAQ:ACLX) is Samsara BioCapital LLC’s 6th Largest Position

Samsara BioCapital LLC cut its stake in Arcellx, Inc. (NASDAQ:ACLX) by 22.0% in the third quarter, HoldingsChannel reports. The firm owned 353,641 shares of the company’s stock after selling 100,000 shares during the quarter. Arcellx makes up about 5.7% of Samsara BioCapital LLC’s investment portfolio, making the stock its 6th biggest position. Samsara BioCapital LLC’s holdings in Arcellx were worth $29,533,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP acquired a new stake in Arcellx in the third quarter valued at $125,000. RA Capital Management L.P. raised its stake in Arcellx by 15.4% in 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 buying an additional 247,465 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Arcellx by 67.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 79,936 shares of the company’s stock valued at $6,675,000 after buying an additional 32,119 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Arcellx by 5.7% during the third quarter. Janus Henderson Group PLC now owns 2,011,950 shares of the company’s stock worth $168,026,000 after purchasing an additional 109,332 shares in the last quarter. Finally, HighVista Strategies LLC increased its position in shares of Arcellx by 8.0% during the third quarter. HighVista Strategies LLC now owns 55,139 shares of the company’s stock worth $4,605,000 after purchasing an additional 4,099 shares in the last quarter. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ACLX. Stifel Nicolaus lifted their target price on Arcellx from $83.00 to $122.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Needham & Company LLC reiterated a “buy” rating and set a $96.00 target price on shares of Arcellx in a research report on Wednesday, November 6th. HC Wainwright lifted their target price on Arcellx from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Bank of America lifted their target price on Arcellx from $84.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, Truist Financial boosted their price target on Arcellx from $87.00 to $136.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Thirteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $103.08.

Arcellx Stock Performance

ACLX stock opened at $85.85 on Thursday. Arcellx, Inc. has a 1 year low of $46.42 and a 1 year high of $107.37. The stock’s 50 day moving average price is $88.38 and its 200 day moving average price is $71.01. The firm has a market cap of $4.64 billion, a P/E ratio of -120.91 and a beta of 0.25.

Arcellx (NASDAQ:ACLX) last posted its 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 return on equity of 8.28% and a negative net margin of 25.94%. The firm had revenue of $26.03 million for the quarter, compared to analyst estimates of $35.21 million. On average, research analysts predict that Arcellx, Inc. will post -1.49 earnings per share for the current year.

Insider Buying and Selling at Arcellx

In other Arcellx news, Director Kavita Patel sold 1,500 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $74.41, for a total value of $111,615.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michelle Gilson sold 15,000 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $77.73, for a total value of $1,165,950.00. Following the completion of the transaction, the chief financial officer now owns 6,915 shares of the company’s stock, valued at $537,502.95. This trade represents a 68.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 67,001 shares of company stock worth $6,542,188. Insiders own 6.24% of the company’s stock.

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).