Y Intercept Hong Kong Ltd Has $593,000 Stake in Arcellx, Inc. (NASDAQ:ACLX)

Y Intercept Hong Kong Ltd lifted its stake in Arcellx, Inc. (NASDAQ:ACLX) by 98.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,735 shares of the company’s stock after acquiring an additional 3,831 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Arcellx were worth $593,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. RA Capital Management L.P. increased its position in Arcellx by 15.4% in the 3rd quarter. RA Capital Management L.P. now owns 1,851,479 shares of the company’s stock worth $154,617,000 after buying an additional 247,465 shares during the period. First Turn Management LLC acquired a new stake in Arcellx in the 3rd quarter valued at $17,896,000. Janus Henderson Group PLC boosted its stake in Arcellx by 5.7% in the 3rd quarter. Janus Henderson Group PLC now owns 2,011,950 shares of the company’s stock valued at $168,026,000 after buying an additional 109,332 shares in the last quarter. abrdn plc acquired a new stake in Arcellx in the 3rd quarter valued at $4,242,000. Finally, Geode Capital Management LLC boosted its stake in Arcellx by 4.3% in the third quarter. Geode Capital Management LLC now owns 974,967 shares of the company’s stock worth $81,434,000 after purchasing an additional 39,781 shares in the last quarter. 96.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ACLX has been the topic of a number of recent analyst reports. HC Wainwright reissued a “buy” rating and issued a $115.00 price objective on shares of Arcellx in a research note on Tuesday, December 10th. Robert W. Baird upped their price objective on Arcellx from $77.00 to $106.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Piper Sandler increased their price target on Arcellx from $91.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Morgan Stanley increased 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. Finally, Bank of America upped their price objective on Arcellx from $84.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Thirteen equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $108.46.

Insiders Place Their Bets

In other Arcellx news, insider Christopher Heery sold 3,301 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $79.55, for a total value of $262,594.55. Following the sale, the insider now owns 35,517 shares of the company’s stock, valued at approximately $2,825,377.35. This trade represents a 8.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kavita Patel sold 1,500 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $91.88, for a total value of $137,820.00. The disclosure for this sale can be found here. Insiders have sold a total of 65,870 shares of company stock worth $4,327,461 in the last 90 days. Company insiders own 6.24% of the company’s stock.

Arcellx Stock Up 5.6 %

ACLX opened at $64.82 on Friday. Arcellx, Inc. has a 12-month low of $47.88 and a 12-month high of $107.37. The stock has a market cap of $3.51 billion, a price-to-earnings ratio of -91.29 and a beta of 0.29. The business has a 50 day moving average of $68.52 and a 200-day moving average of $77.36.

Arcellx (NASDAQ:ACLX) last announced its earnings results on Thursday, February 27th. The company reported ($0.87) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.24). The firm had revenue of $15.27 million for the quarter, compared to the consensus estimate of $27.42 million. Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. As a group, analysts expect that Arcellx, Inc. will post -1.58 earnings per share for the current year.

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).