Arcellx, Inc. (NASDAQ:ACLX) Director Kavita Patel Sells 1,500 Shares

Arcellx, Inc. (NASDAQ:ACLX) Director Kavita Patel sold 1,500 shares of the firm’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $71.64, for a total value of $107,460.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Kavita Patel also recently made the following trade(s):

• On Tuesday, February 25th, Kavita Patel sold 1,500 shares of Arcellx stock. The shares were sold at an average price of $63.16, for a total transaction of $94,740.00.
• On Tuesday, February 4th, Kavita Patel sold 1,500 shares of Arcellx stock. The shares were sold at an average price of $64.57, for a total value of $96,855.00.
• On Tuesday, January 14th, Kavita Patel sold 1,500 shares of Arcellx stock. The shares were sold at an average price of $65.87, for a total value of $98,805.00.
• On Tuesday, December 24th, Kavita Patel sold 1,500 shares of Arcellx stock. The shares were sold at an average price of $76.97, for a total transaction of $115,455.00.

Arcellx Price Performance

Arcellx stock traded down $2.87 during midday trading on Tuesday, reaching $69.87. The stock had a trading volume of 472,424 shares, compared to its average volume of 516,330. The firm’s fifty day simple moving average is $66.59 and its two-hundred day simple moving average is $77.76. Arcellx, Inc. has a twelve month low of $47.88 and a twelve month high of $107.37. The firm has a market cap of $3.84 billion, a price-to-earnings ratio of -98.41 and a beta of 0.32.

Arcellx (NASDAQ:ACLX) last issued 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). Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. The business had revenue of $15.27 million during the quarter, compared to analyst estimates of $27.42 million. As a group, sell-side analysts predict that Arcellx, Inc. will post -1.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ACLX. HC Wainwright restated a “buy” rating and set a $115.00 price target on shares of Arcellx in a research report on Tuesday, December 10th. Needham & Company LLC reiterated a “buy” rating and set a $105.00 price objective on shares of Arcellx in a research note on Monday, December 9th. Barclays upgraded Arcellx to a “strong-buy” rating in a research report on Friday, November 29th. Finally, UBS Group lifted their price target on Arcellx from $106.00 to $114.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Thirteen analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $108.46.

Institutional Trading of Arcellx

Several hedge funds and other institutional investors have recently modified their holdings of ACLX. Headlands Technologies LLC purchased a new stake in shares of Arcellx during the 4th quarter worth about $41,000. GF Fund Management CO. LTD. acquired a new position in Arcellx in the fourth quarter worth approximately $87,000. KBC Group NV raised its position in Arcellx by 37.3% during the fourth quarter. KBC Group NV now owns 1,388 shares of the company’s stock valued at $106,000 after acquiring an additional 377 shares in the last quarter. Quarry LP acquired a new stake in Arcellx in the third quarter valued at approximately $125,000. Finally, Quest Partners LLC grew its position in Arcellx by 210.1% in the third quarter. Quest Partners LLC now owns 1,532 shares of the company’s stock worth $128,000 after acquiring an additional 1,038 shares in the last quarter. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

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).