Arcellx, Inc. (NASDAQ:ACLX) Shares Sold by NEOS Investment Management LLC

NEOS Investment Management LLC lowered its holdings in Arcellx, Inc. (NASDAQ:ACLX) by 37.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,468 shares of the company’s stock after selling 4,442 shares during the quarter. NEOS Investment Management LLC’s holdings in Arcellx were worth $573,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ACLX. Xponance Inc. grew its position in Arcellx by 8.6% during the 4th quarter. Xponance Inc. now owns 3,088 shares of the company’s stock worth $237,000 after purchasing an additional 244 shares during the period. KBC Group NV grew its holdings in Arcellx by 37.3% during the fourth quarter. KBC Group NV now owns 1,388 shares of the company’s stock worth $106,000 after acquiring an additional 377 shares during the period. Swiss National Bank raised its position in Arcellx by 0.8% during the fourth quarter. Swiss National Bank now owns 63,400 shares of the company’s stock valued at $4,862,000 after acquiring an additional 500 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Arcellx by 9.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,836 shares of the company’s stock valued at $754,000 after acquiring an additional 858 shares during the period. Finally, Martingale Asset Management L P boosted its position in Arcellx by 4.9% in the 3rd quarter. Martingale Asset Management L P now owns 21,184 shares of the company’s stock worth $1,769,000 after purchasing an additional 992 shares in the last quarter. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ACLX. UBS Group lifted their target price on shares of Arcellx from $106.00 to $114.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. HC Wainwright reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Arcellx in a report on Tuesday, December 10th. Finally, Needham & Company LLC reissued a “buy” rating and set a $105.00 target price on shares of Arcellx in a research note on Monday, December 9th. Thirteen equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $108.46.

Arcellx Stock Down 0.8 %

Shares of ACLX opened at $67.96 on Monday. Arcellx, Inc. has a 52-week low of $47.88 and a 52-week high of $107.37. The stock has a market cap of $3.73 billion, a PE ratio of -95.72 and a beta of 0.32. The firm’s fifty day moving average is $66.93 and its two-hundred day moving average is $77.72.

Arcellx (NASDAQ:ACLX) last posted its quarterly 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 business had revenue of $15.27 million for the quarter, compared to analyst estimates 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, research analysts anticipate that Arcellx, Inc. will post -1.58 earnings per share for the current year.

Insider Activity

In other news, Director Kavita Patel sold 1,500 shares of the business’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $65.87, for a total transaction of $98,805.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Rami Elghandour sold 38,300 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $62.02, for a total transaction of $2,375,366.00. Following the sale, the insider now owns 149,186 shares of the company’s stock, valued at approximately $9,252,515.72. The trade was a 20.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 64,370 shares of company stock worth $4,181,646 over the last ninety days. Corporate insiders own 6.24% of the company’s stock.

Arcellx 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).