Erste Asset Management GmbH Acquires New Holdings in Arcellx, Inc. (NASDAQ:ACLX)

Erste Asset Management GmbH purchased a new position in shares of Arcellx, Inc. (NASDAQ:ACLX) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 21,000 shares of the company’s stock, valued at approximately $1,738,000.

Several other hedge funds also recently modified their holdings of the business. Harbor Capital Advisors Inc. increased its position in Arcellx by 8.3% during the second quarter. Harbor Capital Advisors Inc. now owns 20,362 shares of the company’s stock worth $1,124,000 after buying an additional 1,568 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Arcellx by 21.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 147,198 shares of the company’s stock valued at $8,124,000 after acquiring an additional 26,134 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Arcellx by 37.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 15,928 shares of the company’s stock valued at $879,000 after acquiring an additional 4,372 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Arcellx by 34.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,811 shares of the company’s stock worth $376,000 after purchasing an additional 1,740 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in Arcellx by 1.4% during the second quarter. Principal Financial Group Inc. now owns 37,352 shares of the company’s stock valued at $2,061,000 after purchasing an additional 517 shares during the last quarter. Institutional investors and hedge funds own 96.03% of the company’s stock.

Arcellx Stock Performance

Shares of Arcellx stock opened at $88.65 on Wednesday. The firm has a market cap of $4.79 billion, a P/E ratio of -124.86 and a beta of 0.25. The firm’s 50-day simple moving average is $88.35 and its 200-day simple moving average is $70.91. Arcellx, Inc. has a twelve month low of $46.42 and a twelve month high of $107.37.

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

Analyst Ratings Changes

Several analysts recently issued reports on ACLX shares. Redburn Atlantic assumed coverage on shares of Arcellx in a report on Tuesday, October 8th. They set a “buy” rating and a $109.00 price objective for the company. Robert W. Baird raised their price target on Arcellx from $77.00 to $106.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Stifel Nicolaus lifted their price objective on Arcellx from $83.00 to $122.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Truist Financial raised their target price on Arcellx from $87.00 to $136.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, Morgan Stanley upped their price target on Arcellx from $81.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Thirteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $103.08.

Insider Buying and Selling at Arcellx

In other news, Director Kavita Patel sold 1,500 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $74.41, for a total transaction of $111,615.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Michelle Gilson sold 15,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $77.73, for a total value of $1,165,950.00. Following the completion of the sale, the chief financial officer now owns 6,915 shares of the company’s stock, valued at approximately $537,502.95. This trade represents a 68.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 70,422 shares of company stock valued at $6,781,726. 6.24% of the stock is currently owned by company insiders.

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).