Charles Schwab Investment Management Inc. Has $26.31 Million Stock Holdings in Arcellx, Inc. (NASDAQ:ACLX)

Charles Schwab Investment Management Inc. grew its stake in shares of Arcellx, Inc. (NASDAQ:ACLX) by 4.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 343,085 shares of the company’s stock after buying an additional 14,992 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Arcellx were worth $26,311,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ACLX. KBC Group NV raised its stake in Arcellx by 37.3% during the 4th quarter. KBC Group NV now owns 1,388 shares of the company’s stock worth $106,000 after buying an additional 377 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of Arcellx by 13.1% during the third quarter. Advisors Asset Management Inc. now owns 6,196 shares of the company’s stock valued at $517,000 after acquiring an additional 720 shares in the last quarter. Martingale Asset Management L P raised its position in shares of Arcellx by 4.9% during the third quarter. Martingale Asset Management L P now owns 21,184 shares of the company’s stock worth $1,769,000 after purchasing an additional 992 shares during the period. Quest Partners LLC lifted its holdings in shares of Arcellx by 210.1% in the 3rd quarter. Quest Partners LLC now owns 1,532 shares of the company’s stock worth $128,000 after purchasing an additional 1,038 shares in the last quarter. Finally, Rhumbline Advisers grew its position in Arcellx by 1.9% in the 4th quarter. Rhumbline Advisers now owns 59,903 shares of the company’s stock valued at $4,594,000 after purchasing an additional 1,125 shares during the period. Institutional investors own 96.03% of the company’s stock.

Insider Buying and Selling

In other Arcellx news, insider Rami Elghandour sold 38,300 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $62.02, for a total transaction of $2,375,366.00. Following the transaction, the insider now directly owns 149,186 shares of the company’s stock, valued at approximately $9,252,515.72. The trade was a 20.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher Heery sold 3,301 shares of Arcellx stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $79.55, for a total transaction of $262,594.55. Following the sale, the insider now directly owns 35,517 shares in the company, valued at $2,825,377.35. The trade was a 8.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 64,370 shares of company stock valued at $4,189,641 over the last ninety days. 6.24% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ACLX shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $105.00 price target on shares of Arcellx in a research report on Monday, December 9th. UBS Group raised their target price on Arcellx from $106.00 to $114.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Barclays upgraded Arcellx to a “strong-buy” rating in a report on Friday, November 29th. Finally, HC Wainwright restated a “buy” rating and set a $115.00 price objective on shares of Arcellx in a research note on Tuesday, December 10th. Thirteen research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $108.46.

Arcellx Stock Performance

ACLX stock opened at $72.74 on Tuesday. The firm has a market cap of $4.00 billion, a P/E ratio of -102.45 and a beta of 0.32. The firm’s fifty day moving average is $66.78 and its 200 day moving average is $77.71. Arcellx, Inc. has a 52 week low of $47.88 and a 52 week high of $107.37.

Arcellx (NASDAQ:ACLX) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.87) EPS for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.24). The firm had revenue of $15.27 million for the quarter, compared to the consensus estimate of $27.42 million. Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. As a group, analysts forecast that Arcellx, Inc. will post -1.58 EPS for the current year.

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).