Arcellx, Inc. (NASDAQ:ACLX) Insider Rami Elghandour Sells 23,086 Shares

Arcellx, Inc. (NASDAQ:ACLXGet Free Report) insider Rami Elghandour sold 23,086 shares of Arcellx stock in a transaction on Monday, April 1st. The stock was sold at an average price of $67.09, for a total transaction of $1,548,839.74. Following the transaction, the insider now directly owns 69,253 shares in the company, valued at $4,646,183.77. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Arcellx Stock Performance

Shares of Arcellx stock opened at $63.20 on Thursday. Arcellx, Inc. has a 52-week low of $27.28 and a 52-week high of $75.10. The stock’s 50-day simple moving average is $66.31 and its 200 day simple moving average is $53.18. The stock has a market capitalization of $3.34 billion, a P/E ratio of -42.99 and a beta of 0.02.

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on ACLX shares. Canaccord Genuity Group lifted their target price on Arcellx from $66.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Needham & Company LLC lifted their target price on Arcellx from $72.00 to $81.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Truist Financial lifted their target price on Arcellx from $57.00 to $87.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Morgan Stanley started coverage on Arcellx in a research note on Thursday, March 7th. They set an “overweight” rating and a $81.00 target price on the stock. Finally, HC Wainwright lifted their target price on Arcellx from $60.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $74.17.

View Our Latest Research Report on Arcellx

Institutional Investors Weigh In On Arcellx

A number of institutional investors and hedge funds have recently modified their holdings of the company. Amalgamated Bank lifted its holdings in shares of Arcellx by 5.6% in the third quarter. Amalgamated Bank now owns 5,772 shares of the company’s stock worth $207,000 after buying an additional 308 shares in the last quarter. Walleye Trading LLC lifted its holdings in shares of Arcellx by 2.6% in the third quarter. Walleye Trading LLC now owns 14,804 shares of the company’s stock worth $531,000 after buying an additional 379 shares in the last quarter. E Fund Management Co. Ltd. lifted its holdings in shares of Arcellx by 5.3% in the third quarter. E Fund Management Co. Ltd. now owns 8,156 shares of the company’s stock worth $293,000 after buying an additional 407 shares in the last quarter. Alps Advisors Inc. lifted its holdings in shares of Arcellx by 1.2% in the third quarter. Alps Advisors Inc. now owns 35,710 shares of the company’s stock worth $1,281,000 after buying an additional 432 shares in the last quarter. Finally, High Net Worth Advisory Group LLC increased its position in shares of Arcellx by 7.7% in the fourth quarter. High Net Worth Advisory Group LLC now owns 7,000 shares of the company’s stock worth $388,000 after purchasing an additional 500 shares during the last quarter. 96.03% of the stock is owned by hedge funds and other institutional investors.

Arcellx Company Profile

(Get Free Report)

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).

Read More

Insider Buying and Selling by Quarter for Arcellx (NASDAQ:ACLX)

Receive News & Ratings for Arcellx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arcellx and related companies with MarketBeat.com's FREE daily email newsletter.