Arcellx, Inc. (NASDAQ:ACLX) Shares Acquired by Martingale Asset Management L P

Martingale Asset Management L P lifted its position in Arcellx, Inc. (NASDAQ:ACLX) by 4.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 21,184 shares of the company’s stock after acquiring an additional 992 shares during the period. Martingale Asset Management L P’s holdings in Arcellx were worth $1,769,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Quest Partners LLC acquired a new position in Arcellx in the second quarter worth $27,000. Decheng Capital LLC acquired a new position in shares of Arcellx in the 2nd quarter valued at about $65,000. National Bank of Canada FI boosted its holdings in shares of Arcellx by 50.0% in the 2nd quarter. National Bank of Canada FI now owns 1,500 shares of the company’s stock valued at $80,000 after buying an additional 500 shares during the period. Covestor Ltd boosted its holdings in shares of Arcellx by 53,766.7% in the 3rd quarter. Covestor Ltd now owns 1,616 shares of the company’s stock valued at $135,000 after buying an additional 1,613 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted 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 valued at $161,000 after buying an additional 347 shares during the period. Institutional investors and hedge funds own 96.03% of the company’s stock.

Arcellx Price Performance

ACLX opened at $88.07 on Monday. The company has a market capitalization of $4.76 billion, a price-to-earnings ratio of -124.04 and a beta of 0.27. Arcellx, Inc. has a 1-year low of $46.42 and a 1-year high of $107.37. The business has a 50 day moving average price of $88.07 and a two-hundred day moving average price of $70.36.

Arcellx (NASDAQ:ACLX) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.48) earnings per share for the quarter, beating the consensus estimate of ($0.54) by $0.06. Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. The business had revenue of $26.03 million during the quarter, compared to analyst estimates of $35.21 million. Equities analysts expect that Arcellx, Inc. will post -1.49 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ACLX shares. Robert W. Baird lifted their target price on Arcellx from $77.00 to $106.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Cantor Fitzgerald restated an “overweight” rating on shares of Arcellx in a research report on Monday, September 9th. Morgan Stanley boosted their price target on shares of Arcellx from $81.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Bank of America boosted their price target on shares of Arcellx from $84.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, Piper Sandler boosted their target price on shares of Arcellx from $91.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Thirteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher Heery sold 3,421 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $70.02, for a total value of $239,538.42. Following the sale, the insider now owns 9,278 shares of the company’s stock, valued at $649,645.56. This trade represents a 26.94 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 97,873 shares of company stock valued at $8,621,767. 6.24% of the stock is owned by 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).