HealthInvest Partners AB Acquires 17,734 Shares of Arcellx, Inc. (NASDAQ:ACLX)

HealthInvest Partners AB lifted its stake in Arcellx, Inc. (NASDAQ:ACLX) by 78.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 40,230 shares of the company’s stock after acquiring an additional 17,734 shares during the period. Arcellx accounts for about 1.6% of HealthInvest Partners AB’s investment portfolio, making the stock its 19th largest position. HealthInvest Partners AB owned approximately 0.07% of Arcellx worth $3,360,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Quest Partners LLC acquired a new stake in Arcellx during the second quarter worth $27,000. Plato Investment Management Ltd acquired a new stake in Arcellx in the first quarter worth about $51,000. Decheng Capital LLC acquired a new stake in shares of Arcellx during the 2nd quarter worth approximately $65,000. National Bank of Canada FI raised its position in shares of Arcellx by 50.0% during the 2nd quarter. National Bank of Canada FI now owns 1,500 shares of the company’s stock valued at $80,000 after acquiring an additional 500 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in Arcellx by 53,766.7% during the third quarter. Covestor Ltd now owns 1,616 shares of the company’s stock worth $135,000 after buying an additional 1,613 shares during the last quarter. 96.03% of the stock is currently owned by institutional investors and hedge funds.

Arcellx Stock Up 0.8 %

Shares of NASDAQ ACLX traded up $0.72 during midday trading on Thursday, reaching $87.94. The stock had a trading volume of 6,373 shares, compared to its average volume of 479,257. The company’s 50 day moving average price is $86.52 and its 200 day moving average price is $68.25. Arcellx, Inc. has a twelve month low of $46.42 and a twelve month high of $107.37.

Arcellx (NASDAQ:ACLX) last released its earnings results on Thursday, November 7th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $0.06. Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. The business had revenue of $26.03 million for the quarter, compared to analyst estimates of $35.21 million. Equities analysts forecast that Arcellx, Inc. will post -1.49 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Bank of America upped their price objective on shares of Arcellx from $84.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Stifel Nicolaus raised their target price on shares of Arcellx from $83.00 to $122.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Robert W. Baird upped their price objective on Arcellx from $77.00 to $106.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Morgan Stanley boosted their price target on Arcellx from $81.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Finally, Truist Financial upped their price target on shares of Arcellx from $87.00 to $136.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Thirteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $103.08.

Insider Activity at Arcellx

In other Arcellx news, Director Kavita Patel sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $74.41, for a total value of $111,615.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher Heery sold 21,684 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $71.12, for a total value of $1,542,166.08. Following the transaction, the insider now directly owns 9,278 shares in the company, valued at $659,851.36. The trade was a 70.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 119,557 shares of company stock worth $10,163,933 in the last 90 days. Corporate insiders own 6.24% 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).