Bellevue Group AG Acquires New Position in Arcellx, Inc. (NASDAQ:ACLX)

Bellevue Group AG bought a new stake in Arcellx, Inc. (NASDAQ:ACLX) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,000 shares of the company’s stock, valued at approximately $334,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quest Partners LLC bought a new stake in shares of Arcellx in the 2nd quarter worth approximately $27,000. Decheng Capital LLC bought a new stake in Arcellx in the second quarter valued at $65,000. National Bank of Canada FI boosted its holdings in shares of Arcellx by 50.0% during the second 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 period. Covestor Ltd boosted its holdings in shares of Arcellx by 53,766.7% during the third quarter. Covestor Ltd now owns 1,616 shares of the company’s stock valued at $135,000 after acquiring an additional 1,613 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Arcellx by 21.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,944 shares of the company’s stock worth $161,000 after acquiring an additional 347 shares during the period. 96.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Christopher Heery sold 27,451 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $67.03, for a total value of $1,840,040.53. Following the completion of the transaction, the insider now owns 9,278 shares in the company, valued at $621,904.34. This trade represents a 74.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kavita Patel sold 15,238 shares of Arcellx stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $105.92, for a total value of $1,614,008.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 97,873 shares of company stock worth $8,621,767. 6.24% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ACLX has been the subject of a number of analyst reports. Stifel Nicolaus boosted their target price on shares of Arcellx from $83.00 to $122.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Canaccord Genuity Group boosted their price objective on Arcellx from $85.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Morgan Stanley increased their price objective on Arcellx from $81.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Truist Financial lifted their target price on Arcellx from $87.00 to $136.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, HC Wainwright increased their price target on Arcellx from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Thirteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Arcellx presently has a consensus rating of “Buy” and an average target price of $103.08.

Arcellx Stock Down 1.1 %

NASDAQ:ACLX opened at $88.07 on Monday. The business’s 50-day moving average price is $88.07 and its 200 day moving average price is $70.36. Arcellx, Inc. has a 52-week low of $46.42 and a 52-week high of $107.37. The firm has a market cap of $4.76 billion, a P/E ratio of -124.04 and a beta of 0.27.

Arcellx (NASDAQ:ACLX) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping 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 company had revenue of $26.03 million for the quarter, compared to analysts’ expectations of $35.21 million. Sell-side analysts expect that Arcellx, Inc. will post -1.49 EPS for the current year.

Arcellx Company 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).