Millennium Management LLC Boosts Holdings in Arcellx, Inc. (NASDAQ:ACLX)

Millennium Management LLC lifted its stake in Arcellx, Inc. (NASDAQ:ACLX) by 123.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,370 shares of the company’s stock after purchasing an additional 12,370 shares during the quarter. Millennium Management LLC’s holdings in Arcellx were worth $1,716,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Arcellx by 6.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,363 shares of the company’s stock worth $2,103,000 after buying an additional 1,589 shares during the last quarter. Brevan Howard Capital Management LP purchased a new position in Arcellx in the 4th quarter worth about $466,000. Bamco Inc. NY raised its position in Arcellx by 1.6% in the 4th quarter. Bamco Inc. NY now owns 348,333 shares of the company’s stock worth $26,714,000 after buying an additional 5,501 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in Arcellx in the 4th quarter worth about $1,531,000. Finally, Algert Global LLC purchased a new position in Arcellx in the 4th quarter worth about $525,000. 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 business’s stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $57.50, for a total transaction of $86,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 6,000 shares of company stock worth $377,655. 8.35% of the stock is owned by company insiders.

Arcellx Stock Down 0.2%

NASDAQ ACLX opened at $61.93 on Tuesday. Arcellx, Inc. has a 52 week low of $47.86 and a 52 week high of $107.37. The firm has a market capitalization of $3.41 billion, a P/E ratio of -87.22 and a beta of 0.34. The company has a 50-day moving average price of $61.29 and a 200-day moving average price of $69.18.

Arcellx (NASDAQ:ACLX) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.29). The company had revenue of $8.13 million for the quarter, compared to the consensus estimate of $19.51 million. Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. As a group, equities research analysts anticipate that Arcellx, Inc. will post -1.58 EPS for the current year.

Analyst Ratings Changes

Separately, Scotiabank decreased their target price on Arcellx from $133.00 to $93.00 and set a “sector outperform” rating for the company in a research report on Friday, May 9th. Thirteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $111.33.

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).