Norges Bank Purchases New Position in Arcellx, Inc. (NASDAQ:ACLX)

Norges Bank acquired a new position in shares of Arcellx, Inc. (NASDAQ:ACLX) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 27,251 shares of the company’s stock, valued at approximately $2,090,000. Norges Bank owned about 0.05% of Arcellx at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. KBC Group NV boosted its holdings in shares of Arcellx by 37.3% in the 4th 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. Avanza Fonder AB bought a new stake in Arcellx in the fourth quarter worth $184,000. Kazazian Asset Management LLC purchased a new position in Arcellx during the fourth quarter worth $204,000. Xponance Inc. increased its position in Arcellx by 8.6% during the fourth quarter. Xponance Inc. now owns 3,088 shares of the company’s stock valued at $237,000 after acquiring an additional 244 shares during the last quarter. Finally, Cibc World Markets Corp purchased a new stake in shares of Arcellx in the fourth quarter valued at $309,000. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

Arcellx Trading Up 4.4 %

Arcellx stock opened at $59.15 on Friday. The firm has a market capitalization of $3.25 billion, a PE ratio of -83.31 and a beta of 0.33. Arcellx, Inc. has a 12-month low of $47.88 and a 12-month high of $107.37. The firm has a 50-day moving average price of $65.61 and a 200-day moving average price of $76.14.

Arcellx (NASDAQ:ACLX) last announced its quarterly earnings data 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 firm had revenue of $15.27 million during the quarter, compared to the consensus estimate of $27.42 million. Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. As a group, sell-side analysts predict that Arcellx, Inc. will post -1.58 earnings per share for the current fiscal year.

Insider Activity at Arcellx

In related news, insider Christopher Heery sold 10,155 shares of Arcellx stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $63.79, for a total transaction of $647,787.45. Following the completion of the sale, the insider now owns 37,486 shares in the company, valued at $2,391,231.94. This trade represents a 21.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kavita Patel sold 1,500 shares of the company’s stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $57.50, for a total transaction of $86,250.00. The disclosure for this sale can be found here. Insiders sold a total of 55,955 shares of company stock worth $3,507,263 in the last quarter. 6.24% of the stock is 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).