Legal & General Group Plc Lowers Position in Arcellx, Inc. (NASDAQ:ACLX)

Legal & General Group Plc reduced its stake in Arcellx, Inc. (NASDAQ:ACLX) by 3.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 43,033 shares of the company’s stock after selling 1,402 shares during the period. Legal & General Group Plc owned approximately 0.08% of Arcellx worth $3,300,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Xponance Inc. raised its stake in shares of Arcellx by 8.6% in the 4th 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 period. KBC Group NV raised its position in Arcellx by 37.3% in the fourth quarter. KBC Group NV now owns 1,388 shares of the company’s stock valued at $106,000 after purchasing an additional 377 shares during the period. Swiss National Bank lifted its stake in Arcellx by 0.8% during the fourth quarter. Swiss National Bank now owns 63,400 shares of the company’s stock worth $4,862,000 after purchasing an additional 500 shares in the last quarter. Headlands Technologies LLC acquired a new position in Arcellx during the fourth quarter worth $41,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Arcellx by 9.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,836 shares of the company’s stock worth $754,000 after buying an additional 858 shares during the period. Institutional investors and hedge funds own 96.03% of the company’s stock.

Arcellx Trading Up 3.6 %

ACLX opened at $63.12 on Wednesday. The stock’s 50-day moving average price is $64.84 and its 200 day moving average price is $75.13. Arcellx, Inc. has a 12-month low of $47.88 and a 12-month high of $107.37. The firm has a market cap of $3.47 billion, a price-to-earnings ratio of -88.90 and a beta of 0.33.

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

Insiders Place Their Bets

In related news, insider Rami Elghandour sold 38,300 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $62.02, for a total transaction of $2,375,366.00. Following the completion of the transaction, the insider now directly owns 149,186 shares of the company’s stock, valued at $9,252,515.72. The trade was a 20.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kavita Patel sold 1,500 shares of the stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $57.50, for a total value of $86,250.00. The disclosure for this sale can be found here. Insiders have sold a total of 54,455 shares of company stock worth $3,408,458 in the last ninety days. 6.24% of the stock is owned by corporate 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).