Principal Financial Group Inc. Has $377,000 Stock Position in Arcellx, Inc. (NASDAQ:ACLX)

Principal Financial Group Inc. trimmed its holdings in shares of Arcellx, Inc. (NASDAQ:ACLXFree Report) by 2.5% in the third quarter, Holdings Channel.com reports. The fund owned 10,501 shares of the company’s stock after selling 270 shares during the quarter. Principal Financial Group Inc.’s holdings in Arcellx were worth $377,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. increased its position in shares of Arcellx by 98.4% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,248 shares of the company’s stock worth $45,000 after purchasing an additional 619 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Arcellx by 219.0% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,464 shares of the company’s stock worth $45,000 after purchasing an additional 1,005 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Arcellx during the 2nd quarter worth about $57,000. Citigroup Inc. acquired a new stake in Arcellx in the 1st quarter valued at about $26,000. Finally, Metropolitan Life Insurance Co NY increased its position in Arcellx by 21.8% in the 2nd quarter. Metropolitan Life Insurance Co NY now owns 2,092 shares of the company’s stock valued at $66,000 after acquiring an additional 375 shares in the last quarter.

Arcellx Stock Down 0.5 %

Arcellx stock opened at $64.57 on Tuesday. The stock has a market capitalization of $3.14 billion, a PE ratio of -24.37 and a beta of 0.03. Arcellx, Inc. has a twelve month low of $26.32 and a twelve month high of $67.52. The company has a quick ratio of 2.84, a current ratio of 2.84 and a debt-to-equity ratio of 0.02. The company has a 50 day moving average of $56.69 and a 200-day moving average of $44.89.

Arcellx (NASDAQ:ACLXGet Free Report) last released its quarterly earnings results on Monday, November 13th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.25). The firm had revenue of $14.96 million for the quarter, compared to the consensus estimate of $17.15 million. On average, equities research analysts anticipate that Arcellx, Inc. will post -2.47 EPS for the current fiscal year.

Insider Activity

In related news, insider Christopher Heery sold 2,967 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $64.46, for a total transaction of $191,252.82. Following the completion of the transaction, the insider now owns 30,303 shares in the company, valued at $1,953,331.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Michelle Gilson sold 8,514 shares of the stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $55.27, for a total transaction of $470,568.78. Following the completion of the transaction, the chief financial officer now owns 16,310 shares in the company, valued at $901,453.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher Heery sold 2,967 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $64.46, for a total transaction of $191,252.82. Following the sale, the insider now directly owns 30,303 shares in the company, valued at $1,953,331.38. The disclosure for this sale can be found here. Insiders sold 22,535 shares of company stock worth $1,297,037 over the last quarter. 5.86% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ACLX shares. TD Cowen started coverage on shares of Arcellx in a research report on Monday, October 30th. They issued an “outperform” rating for the company. UBS Group started coverage on shares of Arcellx in a research report on Tuesday, October 17th. They issued a “buy” rating and a $52.00 price objective for the company. Scotiabank initiated coverage on shares of Arcellx in a research report on Tuesday, December 19th. They issued a “sector outperform” rating and a $66.00 price objective for the company. HC Wainwright lifted their price target on shares of Arcellx from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, November 15th. Finally, Needham & Company LLC lifted their price target on shares of Arcellx from $65.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, January 4th. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $52.69.

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About Arcellx

(Free Report)

Arcellx, Inc, a clinical-stage biotechnology company, engages in the development of various immunotherapies for patients with cancer and other incurable diseases. The company's lead ddCAR product candidate is CART-ddBCMA, which is in phase 2 clinical trial for the treatment of patients with relapsed or refractory (r/r) multiple myeloma (MM).

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Institutional Ownership by Quarter for Arcellx (NASDAQ:ACLX)

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