Arcellx, Inc. (NASDAQ:ACLX) CFO Michelle Gilson Sells 12,121 Shares of Stock

Arcellx, Inc. (NASDAQ:ACLX) CFO Michelle Gilson sold 12,121 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $50.71, for a total value of $614,655.91. Following the completion of the sale, the chief financial officer now directly owns 19,792 shares of the company’s stock, valued at $1,003,652.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Michelle Gilson also recently made the following trade(s):

• On Monday, March 18th, Michelle Gilson sold 6,825 shares of Arcellx stock. The shares were sold at an average price of $69.34, for a total transaction of $473,245.50.

Arcellx Stock Performance

Shares of ACLX traded up $1.27 on Friday, reaching $51.90. The stock had a trading volume of 438,255 shares, compared to its average volume of 479,711. The firm has a 50-day moving average of $58.01 and a 200 day moving average of $57.91. Arcellx, Inc. has a twelve month low of $30.74 and a twelve month high of $75.10.

Arcellx (NASDAQ:ACLX) last announced its earnings results on Thursday, May 9th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.37. The firm had revenue of $39.26 million for the quarter, compared to analysts’ expectations of $20.67 million. Arcellx had a negative return on equity of 13.11% and a negative net margin of 38.39%. Arcellx’s quarterly revenue was up 119.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.58) EPS. As a group, equities analysts anticipate that Arcellx, Inc. will post -1.64 EPS for the current fiscal year.

Institutional Investors Weigh In On Arcellx

A number of large investors have recently bought and sold shares of ACLX. Perceptive Advisors LLC grew its holdings in Arcellx by 14.6% during the 4th quarter. Perceptive Advisors LLC now owns 4,544,809 shares of the company’s stock valued at $252,237,000 after buying an additional 578,831 shares during the last quarter. Bamco Inc. NY grew its holdings in Arcellx by 292.1% during the 1st quarter. Bamco Inc. NY now owns 248,993 shares of the company’s stock valued at $17,317,000 after buying an additional 185,493 shares during the last quarter. Affinity Asset Advisors LLC boosted its holdings in shares of Arcellx by 76.8% during the third quarter. Affinity Asset Advisors LLC now owns 400,000 shares of the company’s stock worth $14,352,000 after purchasing an additional 173,725 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Arcellx by 8.1% during the first quarter. Vanguard Group Inc. now owns 2,228,856 shares of the company’s stock worth $155,017,000 after purchasing an additional 167,037 shares during the last quarter. Finally, Federated Hermes Inc. boosted its holdings in shares of Arcellx by 200.6% during the fourth quarter. Federated Hermes Inc. now owns 214,599 shares of the company’s stock worth $11,910,000 after purchasing an additional 143,212 shares during the last quarter. Institutional investors and hedge funds own 96.03% of the company’s stock.

Wall Street Analyst Weigh In

ACLX has been the topic of a number of recent research reports. Robert W. Baird upped their target price on shares of Arcellx from $63.00 to $77.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Morgan Stanley began coverage on Arcellx in a research note on Thursday, March 7th. They set an “overweight” rating and a $81.00 price objective for the company. Barclays upped their price objective on Arcellx from $62.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Stifel Nicolaus upped their price objective on Arcellx from $82.00 to $83.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Finally, Truist Financial upped their price objective on Arcellx from $57.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Twelve investment 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.com, Arcellx has a consensus rating of “Buy” and a consensus target price of $78.73.

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).