Arcellx, Inc. (NASDAQ:ACLX) Shares Sold by PFM Health Sciences LP

PFM Health Sciences LP lowered its holdings in shares of Arcellx, Inc. (NASDAQ:ACLX) by 80.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,602 shares of the company’s stock after selling 251,378 shares during the period. PFM Health Sciences LP owned about 0.11% of Arcellx worth $5,061,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Quest Partners LLC acquired a new position in shares of Arcellx in the second quarter valued at approximately $27,000. Decheng Capital LLC purchased a new stake in Arcellx in the second quarter valued at approximately $65,000. National Bank of Canada FI grew its holdings in Arcellx by 50.0% in the second 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 period. Covestor Ltd grew its holdings in Arcellx by 53,766.7% in the third quarter. Covestor Ltd now owns 1,616 shares of the company’s stock valued at $135,000 after purchasing an additional 1,613 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in 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 purchasing an additional 347 shares during the period. Institutional investors and hedge funds own 96.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ACLX. Redburn Atlantic began coverage on shares of Arcellx in a report on Tuesday, October 8th. They issued a “buy” rating and a $109.00 target price for the company. Piper Sandler boosted their target price on shares of Arcellx from $91.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Needham & Company LLC reiterated a “buy” rating and set a $96.00 price objective on shares of Arcellx in a research note on Wednesday, November 6th. Canaccord Genuity Group boosted their price objective on shares of Arcellx from $85.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Finally, Bank of America boosted their price objective on shares of Arcellx from $84.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Thirteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $103.08.

Insider Activity at Arcellx

In related news, CFO Michelle Gilson sold 15,000 shares of the company’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 sale, the chief financial officer now directly owns 6,915 shares of the company’s stock, valued at $537,502.95. This represents a 68.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Christopher Heery sold 27,451 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $67.03, for a total transaction of $1,840,040.53. Following the completion of the sale, the insider now directly owns 9,278 shares in the company, valued at $621,904.34. This represents a 74.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 97,873 shares of company stock valued at $8,621,767 over the last ninety days. Corporate insiders own 6.24% of the company’s stock.

Arcellx Trading Down 1.1 %

NASDAQ ACLX opened at $88.07 on Friday. The company’s fifty day simple moving average is $88.07 and its 200-day simple moving average is $70.09. Arcellx, Inc. has a 52 week low of $46.42 and a 52 week high of $107.37. The stock has a market cap of $4.76 billion, a P/E ratio of -124.04 and a beta of 0.27.

Arcellx (NASDAQ:ACLX) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $0.06. The firm had revenue of $26.03 million for the quarter, compared to analysts’ expectations of $35.21 million. Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. On average, research analysts expect that Arcellx, Inc. will post -1.49 EPS for the current fiscal year.

Arcellx 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).