Russell Investments Group Ltd. Buys 11,200 Shares of Arcellx, Inc. (NASDAQ:ACLX)

Russell Investments Group Ltd. grew its stake in shares of Arcellx, Inc. (NASDAQ:ACLX) by 6.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 189,542 shares of the company’s stock after purchasing an additional 11,200 shares during the period. Russell Investments Group Ltd. owned approximately 0.39% of Arcellx worth $10,520,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Arcellx by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 2,038,557 shares of the company’s stock valued at $73,143,000 after purchasing an additional 43,970 shares in the last quarter. Vivo Capital LLC boosted its stake in shares of Arcellx by 16.1% during the 3rd quarter. Vivo Capital LLC now owns 503,565 shares of the company’s stock valued at $18,068,000 after purchasing an additional 69,780 shares in the last quarter. Affinity Asset Advisors LLC boosted its stake in shares of Arcellx by 76.8% during the 3rd quarter. Affinity Asset Advisors LLC now owns 400,000 shares of the company’s stock valued at $14,352,000 after purchasing an additional 173,725 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in shares of Arcellx by 5.4% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 392,904 shares of the company’s stock valued at $14,097,000 after purchasing an additional 20,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Arcellx by 8.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 260,456 shares of the company’s stock valued at $9,345,000 after purchasing an additional 19,518 shares in the last quarter. Institutional investors own 96.03% of the company’s stock.

Arcellx Stock Performance

Shares of Arcellx stock opened at $52.69 on Monday. The stock has a market capitalization of $2.81 billion, a PE ratio of -35.84 and a beta of 0.24. Arcellx, Inc. has a 52-week low of $30.74 and a 52-week high of $75.10. The company has a 50-day simple moving average of $63.02 and a two-hundred day simple moving average of $56.47.

Arcellx (NASDAQ:ACLX) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $20.07 million. During the same period in the previous year, the company earned ($0.76) earnings per share. As a group, equities research analysts forecast that Arcellx, Inc. will post -1.69 EPS for the current fiscal year.

Analysts Set New Price Targets

ACLX has been the subject of a number of recent research reports. Canaccord Genuity Group lifted their price target on shares of Arcellx from $66.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Stifel Nicolaus reissued a “buy” rating and set a $82.00 price target on shares of Arcellx in a research report on Thursday, March 14th. 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 for the company. HC Wainwright lifted their price target on shares of Arcellx from $60.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Finally, Robert W. Baird lifted their price target on shares of Arcellx from $63.00 to $77.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $75.64.

Insider Activity

In related news, insider Christopher Heery sold 18,168 shares of Arcellx stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $51.33, for a total value of $932,563.44. Following the completion of the sale, the insider now owns 8,938 shares of the company’s stock, valued at $458,787.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Arcellx news, insider Christopher Heery sold 18,168 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $51.33, for a total value of $932,563.44. Following the transaction, the insider now owns 8,938 shares of the company’s stock, valued at $458,787.54. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Michelle Gilson sold 6,825 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $69.34, for a total value of $473,245.50. Following the completion of the transaction, the chief financial officer now directly owns 9,485 shares in the company, valued at $657,689.90. The disclosure for this sale can be found here. Insiders have sold 623,982 shares of company stock valued at $43,372,457 in the last ninety days. 6.24% of the stock is currently owned by company insiders.

Arcellx 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).