Arcellx, Inc. (NASDAQ:ACLX) Insider Christopher Heery Sells 3,301 Shares

Arcellx, Inc. (NASDAQ:ACLXGet Free Report) insider Christopher Heery sold 3,301 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $79.55, for a total transaction of $262,594.55. Following the transaction, the insider now directly owns 35,517 shares of the company’s stock, valued at approximately $2,825,377.35. This represents a 8.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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 value of $236,217.37.

Arcellx Price Performance

Shares of NASDAQ:ACLX opened at $77.05 on Wednesday. The business’s fifty day moving average price is $85.75 and its two-hundred day moving average price is $75.64. Arcellx, Inc. has a fifty-two week low of $47.88 and a fifty-two week high of $107.37. The stock has a market capitalization of $4.17 billion, a price-to-earnings ratio of -108.52 and a beta of 0.33.

Arcellx (NASDAQ:ACLXGet Free Report) last issued its earnings results on Thursday, November 7th. The company reported ($0.48) EPS for the quarter, beating the consensus estimate of ($0.54) by $0.06. The company had revenue of $26.03 million for the quarter, compared to the consensus estimate of $35.21 million. Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. Research analysts expect that Arcellx, Inc. will post -1.49 EPS for the current fiscal year.

Institutional Trading of Arcellx

Several large investors have recently added to or reduced their stakes in ACLX. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of 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. Quest Partners LLC bought a new position in Arcellx in the 2nd quarter valued at $27,000. National Bank of Canada FI raised 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 purchasing an additional 500 shares during the last quarter. High Net Worth Advisory Group LLC boosted its stake in Arcellx by 6.3% in the third quarter. High Net Worth Advisory Group LLC now owns 8,500 shares of the company’s stock worth $710,000 after purchasing an additional 500 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Arcellx by 1.4% during the second quarter. Principal Financial Group Inc. now owns 37,352 shares of the company’s stock worth $2,061,000 after purchasing an additional 517 shares during the last quarter. 96.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ACLX shares. Canaccord Genuity Group raised their target price on Arcellx from $85.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Stifel Nicolaus boosted their target price on shares of Arcellx from $83.00 to $122.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Truist Financial increased 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. Redburn Atlantic initiated coverage on shares of Arcellx in a report on Tuesday, October 8th. They set a “buy” rating and a $109.00 price objective on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $115.00 price objective on shares of Arcellx in a research report on Tuesday, December 10th. Thirteen investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $105.93.

Read Our Latest Stock Report on Arcellx

About Arcellx

(Get Free Report)

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).

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Insider Buying and Selling by Quarter for Arcellx (NASDAQ:ACLX)

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