Algert Global LLC Acquires Shares of 6,844 Arcellx, Inc. (NASDAQ:ACLX)

Algert Global LLC bought a new position in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 6,844 shares of the company's stock, valued at approximately $525,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of ACLX. Headlands Technologies LLC bought a new position in shares of Arcellx in the fourth quarter worth $41,000. KBC Group NV grew its position in Arcellx by 37.3% in 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 during the last quarter. Avanza Fonder AB bought a new position in Arcellx in the fourth quarter valued at about $184,000. Kazazian Asset Management LLC bought a new position in Arcellx in the fourth quarter valued at about $204,000. Finally, Landscape Capital Management L.L.C. bought a new position in Arcellx in the fourth quarter valued at about $214,000. Institutional investors and hedge funds own 96.03% of the company's stock.

Analyst Ratings Changes

Separately, Scotiabank cut their price objective on Arcellx from $133.00 to $93.00 and set a "sector outperform" rating on the stock in a research note on Friday, May 9th. Thirteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $111.33.

Arcellx Stock Down 0.6%

ACLX traded down $0.35 during trading on Friday, hitting $58.10. The company's stock had a trading volume of 151,465 shares, compared to its average volume of 583,613. Arcellx, Inc. has a twelve month low of $47.86 and a twelve month high of $107.37. The stock's fifty day moving average price is $63.39 and its 200-day moving average price is $72.05. The firm has a market capitalization of $3.20 billion, a P/E ratio of -81.88 and a beta of 0.34.

Arcellx (NASDAQ:ACLX - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($1.13) earnings per share for the quarter, missing analysts' consensus estimates of ($0.84) by ($0.29). Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. The firm had revenue of $8.13 million for the quarter, compared to analyst estimates of $19.51 million. Equities research analysts expect that Arcellx, Inc. will post -1.58 EPS for the current fiscal year.

Insider Buying and Selling

In other Arcellx news, insider Christopher Heery sold 10,155 shares of the company's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $63.79, for a total value of $647,787.45. Following the completion of the transaction, the insider now owns 37,486 shares in the company, valued at $2,391,231.94. This represents a 21.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kavita Patel sold 1,500 shares of the company's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $63.16, for a total value of $94,740.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,455 shares of company stock worth $3,407,903. 6.24% of the stock is owned by corporate insiders.

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).