Wellington Management Group LLP Purchases 1,432 Shares of Arcellx, Inc. (NASDAQ:ACLX)

Wellington Management Group LLP lifted its position in shares of Arcellx, Inc. (NASDAQ:ACLX) by 2.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,634 shares of the company’s stock after purchasing an additional 1,432 shares during the period. Wellington Management Group LLP owned about 0.12% of Arcellx worth $2,068,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ACLX. JPMorgan Chase & Co. bought a new stake in shares of Arcellx during the first quarter worth about $60,000. Bank of New York Mellon Corp bought a new stake in shares of Arcellx during the first quarter worth about $332,000. Citigroup Inc. bought a new stake in Arcellx in the first quarter valued at approximately $26,000. BlackRock Inc. bought a new stake in Arcellx in the first quarter valued at approximately $7,012,000. Finally, Vanguard Group Inc. bought a new stake in Arcellx in the first quarter valued at approximately $6,151,000. 96.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ACLX has been the topic of several analyst reports. Barclays upped their target price on Arcellx from $62.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Canaccord Genuity Group upped their target price on Arcellx from $66.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Truist Financial upped their target price on Arcellx from $57.00 to $87.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Morgan Stanley initiated coverage on Arcellx in a report on Thursday, March 7th. They issued an “overweight” rating and a $81.00 target price on the stock. Finally, Robert W. Baird upped their target price on Arcellx from $63.00 to $77.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Thirteen investment analysts have rated the stock with a buy rating, According to MarketBeat, Arcellx presently has an average rating of “Buy” and an average price target of $69.14.

Insider Transactions at Arcellx

In other news, CFO Michelle Gilson sold 8,514 shares of the company’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $55.27, for a total transaction of $470,568.78. Following the transaction, the chief financial officer now directly owns 16,310 shares of the company’s stock, valued at $901,453.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $55.27, for a total value of $470,568.78. Following the completion of the sale, the chief financial officer now directly owns 16,310 shares of the company’s stock, valued at approximately $901,453.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jill Carroll sold 504,263 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $70.55, for a total value of $35,575,754.65. Following the completion of the sale, the director now directly owns 1,479,148 shares of the company’s stock, valued at $104,353,891.40. The disclosure for this sale can be found here. Insiders have sold 589,438 shares of company stock valued at $41,259,283 over the last ninety days. 5.86% of the stock is owned by company insiders.

Arcellx Stock Up 0.5 %

Shares of NASDAQ:ACLX opened at $70.45 on Thursday. Arcellx, Inc. has a twelve month low of $27.28 and a twelve month high of $75.10. The stock’s 50 day moving average is $65.19 and its 200-day moving average is $52.03. The firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of -47.92 and a beta of 0.02.

Arcellx (NASDAQ:ACLX) last issued its earnings results on Wednesday, February 28th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.95. Arcellx had a negative return on equity of 20.96% and a negative net margin of 64.08%. The company had revenue of $63.15 million for the quarter, compared to analyst estimates of $20.07 million. During the same period in the prior year, the firm earned ($0.76) earnings per share. Equities research analysts anticipate that Arcellx, Inc. will post -1.69 earnings per share for the current fiscal year.

Arcellx Company 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).