FORA Capital LLC Takes $1.08 Million Position in Arcellx, Inc. (NASDAQ:ACLX)

FORA Capital LLC bought a new position in shares of Arcellx, Inc. (NASDAQ:ACLX) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 12,935 shares of the company’s stock, valued at approximately $1,080,000.

A number of other large investors have also recently bought and sold shares of the company. Quest Partners LLC acquired a new stake in Arcellx during the 2nd quarter valued at approximately $27,000. Plato Investment Management Ltd acquired a new position in Arcellx during the first quarter valued at $51,000. Decheng Capital LLC purchased a new stake in Arcellx in the second quarter valued at $65,000. National Bank of Canada FI grew its position in Arcellx by 50.0% during the 2nd quarter. National Bank of Canada FI now owns 1,500 shares of the company’s stock worth $80,000 after purchasing an additional 500 shares during the period. Finally, Covestor Ltd raised its stake in shares of Arcellx by 53,766.7% during the 3rd quarter. Covestor Ltd now owns 1,616 shares of the company’s stock valued at $135,000 after buying an additional 1,613 shares during the last quarter. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Insider Activity at Arcellx

In related news, Director Kavita Patel sold 1,500 shares of the 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christopher Heery sold 3,421 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $70.02, for a total value of $239,538.42. Following the completion of the transaction, the insider now directly owns 9,278 shares of the company’s stock, valued at approximately $649,645.56. This represents a 26.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 97,873 shares of company stock valued at $8,621,767. 6.24% of the stock is owned by insiders.

Arcellx Price Performance

Shares of ACLX stock opened at $89.07 on Thursday. The company has a market cap of $4.82 billion, a price-to-earnings ratio of -125.45 and a beta of 0.27. The stock has a 50 day simple moving average of $87.97 and a 200-day simple moving average of $69.69. Arcellx, Inc. has a 1-year low of $46.42 and a 1-year high of $107.37.

Arcellx (NASDAQ:ACLX) last announced its earnings results on Thursday, November 7th. The company reported ($0.48) earnings per share 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 during the quarter, compared to the consensus estimate of $35.21 million. Analysts anticipate that Arcellx, Inc. will post -1.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ACLX has been the topic of a number of recent research reports. Redburn Atlantic began coverage on Arcellx in a research note on Tuesday, October 8th. They issued a “buy” rating and a $109.00 target price on the stock. Canaccord Genuity Group upped their price objective on Arcellx from $85.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. HC Wainwright lifted their target price on shares of Arcellx from $80.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Needham & Company LLC reissued a “buy” rating and set a $96.00 price target on shares of Arcellx in a report on Wednesday, November 6th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcellx in a report on Monday, September 9th. Thirteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $103.08.

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).