Allspring Global Investments Holdings LLC Sells 1,948 Shares of Arcellx, Inc. (NASDAQ:ACLX)

Allspring Global Investments Holdings LLC trimmed its stake in shares of Arcellx, Inc. (NASDAQ:ACLX) by 28.0% in the fourth quarter, HoldingsChannel reports. The firm owned 5,000 shares of the company’s stock after selling 1,948 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Arcellx were worth $383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. KBC Group NV boosted its position in Arcellx by 37.3% during the fourth quarter. KBC Group NV now owns 1,388 shares of the company’s stock worth $106,000 after purchasing an additional 377 shares during the period. Quarry LP bought a new position in Arcellx during the third quarter worth $125,000. Quest Partners LLC boosted its position in Arcellx by 210.1% during the third quarter. Quest Partners LLC now owns 1,532 shares of the company’s stock worth $128,000 after purchasing an additional 1,038 shares during the period. Covestor Ltd boosted its position in Arcellx by 53,766.7% during the third quarter. Covestor Ltd now owns 1,616 shares of the company’s stock worth $135,000 after purchasing an additional 1,613 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Arcellx by 21.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,944 shares of the company’s stock worth $161,000 after purchasing an additional 347 shares during the period. 96.03% of the stock is owned by institutional investors.

Arcellx Stock Down 1.2 %

ACLX stock opened at $63.01 on Tuesday. The company has a market cap of $3.41 billion, a PE ratio of -88.75 and a beta of 0.29. The business has a 50-day simple moving average of $69.70 and a 200 day simple moving average of $77.53. Arcellx, Inc. has a 52 week low of $47.88 and a 52 week high of $107.37.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Morgan Stanley lifted their target price on Arcellx from $81.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. UBS Group lifted their target price on Arcellx from $106.00 to $114.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Bank of America lifted their target price on Arcellx from $84.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Barclays raised Arcellx to a “strong-buy” rating in a report on Friday, November 29th. Finally, Needham & Company LLC reissued a “buy” rating and set a $105.00 target price on shares of Arcellx in a report on Monday, December 9th. Thirteen research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $105.93.

Insider Activity at Arcellx

In other Arcellx news, insider Christopher Heery sold 10,155 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $63.79, for a total transaction of $647,787.45. Following the completion of the transaction, the insider now owns 37,486 shares of the company’s stock, valued at approximately $2,391,231.94. The trade was a 21.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavita Patel sold 1,500 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $91.88, for a total value of $137,820.00. The disclosure for this sale can be found here. Insiders sold a total of 26,070 shares of company stock valued at $1,857,355 over the last quarter. 6.24% of the stock is owned by corporate insiders.

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).