Cibc World Markets Corp Invests $309,000 in Arcellx, Inc. (NASDAQ:ACLX)

Cibc World Markets Corp purchased a new stake in Arcellx, Inc. (NASDAQ:ACLX) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 4,033 shares of the company’s stock, valued at approximately $309,000.

A number of other large investors have also added to or reduced their stakes in the stock. KBC Group NV lifted its position in shares of Arcellx by 37.3% during the 4th quarter. KBC Group NV now owns 1,388 shares of the company’s stock valued at $106,000 after acquiring an additional 377 shares during the period. Quarry LP acquired a new position in Arcellx in the third quarter valued at about $125,000. Quest Partners LLC lifted 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. Avanza Fonder AB acquired a new stake in Arcellx during the fourth quarter worth about $184,000. Finally, Glenmede Trust Co. NA bought a new position in Arcellx in the 3rd quarter valued at about $302,000. Institutional investors and hedge funds own 96.03% of the company’s stock.

Insider Activity at Arcellx

In related news, insider Christopher Heery sold 3,061 shares of Arcellx stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $77.17, for a total value of $236,217.37. Following the transaction, the insider now directly owns 32,456 shares of the company’s stock, valued at $2,504,629.52. The trade was a 8.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Rami Elghandour sold 38,300 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 149,186 shares of the company’s stock, valued at $9,252,515.72. This represents a 20.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 64,370 shares of company stock worth $4,181,646 over the last three months. Company insiders own 6.24% of the company’s stock.

Arcellx Price Performance

Arcellx stock opened at $72.48 on Tuesday. The business has a 50 day moving average of $66.67 and a 200-day moving average of $77.85. The company has a market capitalization of $3.98 billion, a P/E ratio of -102.08 and a beta of 0.32. Arcellx, Inc. has a 1 year low of $47.88 and a 1 year high of $107.37.

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

Wall Street Analysts Forecast Growth

ACLX has been the topic of several analyst reports. HC Wainwright reiterated a “buy” rating and set a $115.00 price target on shares of Arcellx in a research report on Tuesday, December 10th. Barclays raised Arcellx to a “strong-buy” rating in a report on Friday, November 29th. Needham & Company LLC reissued a “buy” rating and set a $105.00 price target on shares of Arcellx in a report on Monday, December 9th. Finally, UBS Group raised their price objective on Arcellx from $106.00 to $114.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Thirteen analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $108.46.

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).