Arcellx, Inc. (NASDAQ:ACLX) Insider Christopher Heery Sells 3,553 Shares

Arcellx, Inc. (NASDAQ:ACLX) insider Christopher Heery sold 3,553 shares of Arcellx stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $73.69, for a total value of $261,820.57. Following the completion of the transaction, the insider now directly owns 25,085 shares in the company, valued at $1,848,513.65. This trade represents a 12.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, January 6th, Christopher Heery sold 3,061 shares of Arcellx stock. The stock was sold at an average price of $77.17, for a total transaction of $236,217.37.
• On Friday, January 3rd, Christopher Heery sold 3,301 shares of Arcellx stock. The stock was sold at an average price of $79.55, for a total transaction of $262,594.55.

Arcellx Stock Performance

ACLX stock opened at $69.08 on Friday. The firm has a 50 day moving average price of $84.87 and a 200-day moving average price of $75.68. Arcellx, Inc. has a 52-week low of $47.88 and a 52-week high of $107.37. The firm has a market capitalization of $3.74 billion, a price-to-earnings ratio of -97.29 and a beta of 0.33.

Arcellx (NASDAQ:ACLX) last released its earnings results on Thursday, November 7th. The company reported ($0.48) EPS for the quarter, topping the consensus estimate 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 business had revenue of $26.03 million for the quarter, compared to the consensus estimate of $35.21 million. As a group, sell-side analysts forecast that Arcellx, Inc. will post -1.49 earnings per share for the current fiscal year.

Institutional Trading of Arcellx

Several institutional investors have recently bought and sold shares of ACLX. Quest Partners LLC purchased a new position in Arcellx in the second quarter worth about $27,000. Decheng Capital LLC purchased a new position in Arcellx in the 2nd quarter worth approximately $65,000. National Bank of Canada FI lifted its position in Arcellx by 50.0% in the 2nd quarter. National Bank of Canada FI now owns 1,500 shares of the company’s stock valued at $80,000 after acquiring an additional 500 shares in the last quarter. Quarry LP purchased a new stake in Arcellx during the 3rd quarter valued at $125,000. Finally, Covestor Ltd increased its holdings in shares of Arcellx by 53,766.7% in the 3rd quarter. Covestor Ltd now owns 1,616 shares of the company’s stock worth $135,000 after purchasing an additional 1,613 shares in the last quarter. 96.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ACLX shares. Canaccord Genuity Group increased their target price on shares of Arcellx from $85.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Bank of America lifted their price objective on Arcellx from $84.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Stifel Nicolaus boosted their target price on Arcellx from $83.00 to $122.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Truist Financial lifted their price target on shares of Arcellx from $87.00 to $136.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, Barclays upgraded shares of Arcellx to a “strong-buy” rating in a report on Friday, November 29th. Thirteen analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $105.93.

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).