Arcellx, Inc. (NASDAQ:ACLX) Insider Christopher Heery Sells 5,450 Shares

Arcellx, Inc. (NASDAQ:ACLX) insider Christopher Heery sold 5,450 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $69.11, for a total transaction of $376,649.50. Following the completion of the transaction, the insider now owns 8,938 shares in the company, valued at $617,705.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Christopher Heery also recently made the following trade(s):

• On Friday, March 22nd, Christopher Heery sold 41,365 shares of Arcellx stock. The shares were sold at an average price of $70.18, for a total transaction of $2,902,995.70.
• On Monday, February 12th, Christopher Heery sold 2,967 shares of Arcellx stock. The shares were sold at an average price of $64.46, for a total transaction of $191,252.82.
• On Thursday, February 8th, Christopher Heery sold 3,456 shares of Arcellx stock. The shares were sold at an average price of $62.29, for a total transaction of $215,274.24.
• On Thursday, January 4th, Christopher Heery sold 7,598 shares of Arcellx stock. The shares were sold at an average price of $55.27, for a total transaction of $419,941.46.

Arcellx Stock Up 1.9 %

Shares of ACLX stock traded up $1.30 on Tuesday, reaching $70.13. The company had a trading volume of 325,684 shares, compared to its average volume of 450,237. The stock has a market capitalization of $3.70 billion, a PE ratio of -47.71 and a beta of 0.02. Arcellx, Inc. has a one year low of $27.28 and a one year high of $75.10. The business’s 50-day moving average is $64.88 and its 200 day moving average is $51.90.

Arcellx (NASDAQ:ACLX) last posted its earnings results on Wednesday, February 28th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.95. The firm had revenue of $63.15 million during the quarter, compared to analysts’ expectations of $20.07 million. Arcellx had a negative net margin of 64.08% and a negative return on equity of 20.96%. During the same quarter in the prior year, the business earned ($0.76) earnings per share. On average, sell-side analysts forecast that Arcellx, Inc. will post -1.69 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Canaccord Genuity Group upped their price target on shares of Arcellx from $66.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Robert W. Baird upped their price target on shares of Arcellx from $63.00 to $77.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Barclays upped their price target on shares of Arcellx from $62.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. HC Wainwright upped their price target on shares of Arcellx from $60.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $82.00 price objective on shares of Arcellx in a research note on Thursday, March 14th. Thirteen analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $69.14.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Citigroup Inc. bought a new position in Arcellx in the 1st quarter valued at approximately $26,000. China Universal Asset Management Co. Ltd. raised its holdings in Arcellx by 98.4% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,248 shares of the company’s stock valued at $45,000 after buying an additional 619 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in Arcellx by 219.0% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,464 shares of the company’s stock valued at $45,000 after buying an additional 1,005 shares during the last quarter. California State Teachers Retirement System bought a new position in Arcellx in the 1st quarter valued at approximately $54,000. Finally, JPMorgan Chase & Co. bought a new position in Arcellx in the 1st quarter valued at approximately $60,000. Institutional investors own 96.03% of the company’s stock.

About Arcellx

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).