Mercer Global Advisors Inc. ADV Invests $278,000 in Arcellx, Inc. (NASDAQ:ACLX)

Mercer Global Advisors Inc. ADV acquired a new position in Arcellx, Inc. (NASDAQ:ACLX) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,619 shares of the company’s stock, valued at approximately $278,000.

A number of other hedge funds have also recently made changes to their positions in the business. RA Capital Management L.P. boosted its stake in shares of Arcellx by 50.5% in the fourth quarter. RA Capital Management L.P. now owns 2,787,327 shares of the company’s stock worth $213,760,000 after acquiring an additional 935,848 shares during the period. Schonfeld Strategic Advisors LLC bought a new position in Arcellx during the fourth quarter valued at approximately $2,511,000. Northern Trust Corp boosted its stake in Arcellx by 6.9% during the fourth quarter. Northern Trust Corp now owns 410,733 shares of the company’s stock valued at $31,499,000 after buying an additional 26,625 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Arcellx by 15.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 98,314 shares of the company’s stock valued at $7,540,000 after buying an additional 13,475 shares during the last quarter. Finally, Artia Global Partners LP bought a new position in Arcellx during the fourth quarter valued at approximately $17,622,000. Institutional investors own 96.03% of the company’s stock.

Analyst Ratings Changes

Separately, Scotiabank dropped their price target on Arcellx from $133.00 to $93.00 and set a “sector outperform” rating for the company in a research note on Friday, May 9th. Thirteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Arcellx presently has a consensus rating of “Buy” and a consensus price target of $111.33.

Insider Activity

In other news, insider Christopher Heery sold 10,155 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $63.79, for a total value of $647,787.45. Following the completion of the sale, the insider now directly owns 37,486 shares of the company’s stock, valued at $2,391,231.94. This trade represents a 21.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Rami Elghandour sold 38,300 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $62.02, for a total value of $2,375,366.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,455 shares of company stock valued at $3,407,903 in the last ninety days. Insiders own 6.24% of the company’s stock.

Arcellx Trading Down 1.0%

Shares of Arcellx stock opened at $58.45 on Friday. The firm has a market cap of $3.22 billion, a PE ratio of -82.32 and a beta of 0.34. Arcellx, Inc. has a 12 month low of $47.86 and a 12 month high of $107.37. The stock has a 50 day moving average of $63.39 and a 200 day moving average of $72.05.

Arcellx (NASDAQ:ACLX) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.84) by ($0.29). The company had revenue of $8.13 million during the quarter, compared to the consensus estimate of $19.51 million. Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. As a group, equities research analysts forecast that Arcellx, Inc. will post -1.58 earnings per share for the current fiscal 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).