Arcellx, Inc. (NASDAQ:ACLX) Insider Christopher Heery Sells 18,168 Shares of Stock

Arcellx, Inc. (NASDAQ:ACLX) insider Christopher Heery sold 18,168 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $51.33, for a total transaction of $932,563.44. Following the sale, the insider now owns 8,938 shares of the company’s stock, valued at approximately $458,787.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Christopher Heery also recently made the following trade(s):

• On Friday, March 22nd, Christopher Heery sold 41,365 shares of Arcellx stock. The stock was sold at an average price of $70.18, for a total value of $2,902,995.70.
• On Tuesday, March 26th, Christopher Heery sold 5,450 shares of Arcellx stock. The stock was sold at an average price of $69.11, for a total value of $376,649.50.
• On Monday, February 12th, Christopher Heery sold 2,967 shares of Arcellx stock. The shares were sold at an average price of $64.46, for a total value of $191,252.82.
• On Thursday, February 8th, Christopher Heery sold 3,456 shares of Arcellx stock. The stock was sold at an average price of $62.29, for a total transaction of $215,274.24.

Arcellx Trading Down 1.1 %

NASDAQ:ACLX opened at $52.69 on Friday. The firm has a fifty day simple moving average of $63.02 and a 200 day simple moving average of $56.17. Arcellx, Inc. has a 1-year low of $30.74 and a 1-year high of $75.10. The stock has a market capitalization of $2.81 billion, a PE ratio of -35.84 and a beta of 0.24.

Arcellx (NASDAQ:ACLX) last issued its earnings results on Wednesday, February 28th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.95. The business had revenue of $63.15 million during the quarter, compared to the consensus estimate of $20.07 million. Arcellx had a negative net margin of 64.08% and a negative return on equity of 20.96%. During the same period last year, the business posted ($0.76) EPS. On average, equities analysts predict that Arcellx, Inc. will post -1.69 earnings per share for the current fiscal year.

Institutional Trading of Arcellx

A number of hedge funds have recently modified their holdings of ACLX. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Arcellx by 98.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,248 shares of the company’s stock worth $45,000 after acquiring an additional 619 shares during the period. Simplicity Wealth LLC bought a new position in Arcellx during the 1st quarter worth $232,000. Exchange Traded Concepts LLC lifted its holdings in shares of Arcellx by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 4,241 shares of the company’s stock worth $235,000 after buying an additional 1,076 shares in the last quarter. Amalgamated Bank boosted its position in shares of Arcellx by 5.6% in the third quarter. Amalgamated Bank now owns 5,772 shares of the company’s stock valued at $207,000 after acquiring an additional 308 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Arcellx by 36.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,405 shares of the company’s stock valued at $355,000 after acquiring an additional 1,701 shares in the last quarter. Institutional investors and hedge funds own 96.03% of the company’s stock.

Wall Street Analysts Forecast Growth

ACLX has been the topic of several analyst reports. Stifel Nicolaus reiterated a “buy” rating and issued a $82.00 target price on shares of Arcellx in a report on Thursday, March 14th. Canaccord Genuity Group increased their price target on Arcellx from $66.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Scotiabank reiterated an “outperform” rating and set a $82.00 price objective on shares of Arcellx in a report on Thursday, April 4th. Needham & Company LLC reiterated a “buy” rating and issued a $81.00 price objective on shares of Arcellx in a research report on Thursday, April 11th. Finally, Morgan Stanley assumed coverage on shares of Arcellx in a research note on Thursday, March 7th. They issued an “overweight” rating and a $81.00 price target on the stock. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $75.64.

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).