Teacher Retirement System of Texas Acquires 1,505 Shares of Arcellx, Inc. (NASDAQ:ACLX)

Teacher Retirement System of Texas lifted its holdings in Arcellx, Inc. (NASDAQ:ACLX) by 18.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,556 shares of the company’s stock after buying an additional 1,505 shares during the quarter. Teacher Retirement System of Texas’ holdings in Arcellx were worth $733,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Janus Henderson Group PLC boosted its stake in Arcellx by 5.7% during the third quarter. Janus Henderson Group PLC now owns 2,011,950 shares of the company’s stock worth $168,026,000 after acquiring an additional 109,332 shares in the last quarter. RA Capital Management L.P. lifted its holdings in shares of Arcellx by 15.4% during the third quarter. RA Capital Management L.P. now owns 1,851,479 shares of the company’s stock valued at $154,617,000 after purchasing an additional 247,465 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Arcellx by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 974,967 shares of the company’s stock worth $81,434,000 after purchasing an additional 39,781 shares in the last quarter. Lord Abbett & CO. LLC grew its stake in shares of Arcellx by 2.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 891,848 shares of the company’s stock worth $74,478,000 after buying an additional 18,004 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Arcellx by 4.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 343,085 shares of the company’s stock valued at $26,311,000 after buying an additional 14,992 shares in the last quarter. 96.03% of the stock is currently owned by institutional investors.

Arcellx Stock Down 0.8 %

ACLX opened at $67.96 on Monday. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of -95.72 and a beta of 0.32. The firm has a 50 day moving average price of $66.93 and a 200-day moving average price of $77.72. Arcellx, Inc. has a twelve month low of $47.88 and a twelve month high of $107.37.

Arcellx (NASDAQ:ACLX) last announced its earnings results on Thursday, February 27th. The company reported ($0.87) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.24). The company had revenue of $15.27 million for the quarter, compared to analysts’ expectations 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 expect that Arcellx, Inc. will post -1.58 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. UBS Group boosted 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. 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. Finally, HC Wainwright reissued a “buy” rating and set a $115.00 price objective on shares of Arcellx in a research report on Tuesday, December 10th. Thirteen investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Arcellx has a consensus rating of “Buy” and a consensus price target of $108.46.

Insider Activity at Arcellx

In other news, insider Christopher Heery sold 3,301 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $79.55, for a total transaction of $262,594.55. Following the completion of the sale, the insider now owns 35,517 shares of the company’s stock, valued at $2,825,377.35. The trade was a 8.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Rami Elghandour sold 38,300 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $62.02, for a total value of $2,375,366.00. Following the completion of the transaction, the insider now directly owns 149,186 shares in the company, valued at approximately $9,252,515.72. This represents a 20.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 64,370 shares of company stock worth $4,181,646. 6.24% of the stock is owned by 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).