Strs Ohio Sells 17,181 Shares of Arcellx, Inc. (NASDAQ:ACLX)

Strs Ohio trimmed its position in shares of Arcellx, Inc. (NASDAQ:ACLX) by 58.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,300 shares of the company’s stock after selling 17,181 shares during the period. Strs Ohio’s holdings in Arcellx were worth $682,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ACLX. Amalgamated Bank increased its position in shares of Arcellx by 5.6% during the third quarter. Amalgamated Bank now owns 5,772 shares of the company’s stock valued at $207,000 after buying an additional 308 shares during the period. E Fund Management Co. Ltd. increased its position in shares of Arcellx by 5.3% during the third quarter. E Fund Management Co. Ltd. now owns 8,156 shares of the company’s stock valued at $293,000 after buying an additional 407 shares during the period. Alps Advisors Inc. increased its position in shares of Arcellx by 1.2% during the third quarter. Alps Advisors Inc. now owns 35,710 shares of the company’s stock valued at $1,281,000 after buying an additional 432 shares during the period. High Net Worth Advisory Group LLC increased its position in shares of Arcellx by 7.7% during the fourth quarter. High Net Worth Advisory Group LLC now owns 7,000 shares of the company’s stock valued at $388,000 after buying an additional 500 shares during the period. Finally, Profund Advisors LLC increased its position in shares of Arcellx by 2.0% during the third quarter. Profund Advisors LLC now owns 26,872 shares of the company’s stock valued at $964,000 after buying an additional 527 shares during the period. 96.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ACLX has been the topic of several research analyst reports. Truist Financial boosted their price target on shares of Arcellx from $57.00 to $87.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Morgan Stanley initiated coverage on shares of Arcellx in a research report on Thursday, March 7th. They set an “overweight” rating and a $81.00 price target on the stock. Canaccord Genuity Group upped their price objective on shares of Arcellx from $66.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Stifel Nicolaus restated a “buy” rating and issued a $82.00 price objective on shares of Arcellx in a report on Thursday, March 14th. Finally, Scotiabank restated an “outperform” rating and issued a $82.00 price objective on shares of Arcellx in a report on Thursday, April 4th. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $75.64.

Insider Activity

In other news, insider Rami Elghandour sold 23,086 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $67.09, for a total transaction of $1,548,839.74. Following the sale, the insider now owns 69,253 shares in the company, valued at $4,646,183.77. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, insider Rami Elghandour sold 23,086 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $67.09, for a total transaction of $1,548,839.74. Following the transaction, the insider now owns 69,253 shares in the company, valued at $4,646,183.77. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Olivia C. Ware sold 9,402 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $55.55, for a total transaction of $522,281.10. The disclosure for this sale can be found here. Insiders have sold a total of 605,814 shares of company stock worth $42,439,893 over the last 90 days. 6.24% of the stock is currently owned by insiders.

Arcellx Stock Down 2.7 %

NASDAQ:ACLX opened at $51.38 on Friday. The company’s 50 day moving average price is $64.35 and its 200-day moving average price is $55.48. Arcellx, Inc. has a 52 week low of $30.74 and a 52 week high of $75.10. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of -34.95 and a beta of 0.02.

Arcellx (NASDAQ:ACLX) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.42 EPS for the quarter, beating 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 analysts’ expectations of $20.07 million. During the same quarter in the prior year, the company posted ($0.76) earnings per share. As a group, sell-side analysts anticipate that Arcellx, Inc. will post -1.69 earnings per share for the current year.

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).