Allostery Investments LP Makes New $2.68 Million Investment in Arcellx, Inc. (NASDAQ:ACLX)

Allostery Investments LP acquired a new stake in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 35,000 shares of the company's stock, valued at approximately $2,684,000. Arcellx accounts for approximately 2.8% of Allostery Investments LP's investment portfolio, making the stock its 10th biggest position. Allostery Investments LP owned 0.06% of Arcellx as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Lord Abbett & CO. LLC increased its position in shares of Arcellx by 2.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 891,848 shares of the company's stock valued at $74,478,000 after buying an additional 18,004 shares in the last quarter. Avanza Fonder AB bought a new stake in shares of Arcellx in the fourth quarter worth about $184,000. KBC Group NV increased its holdings in shares of Arcellx by 37.3% in 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 in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Arcellx by 10.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,466 shares of the company's stock valued at $879,000 after purchasing an additional 1,127 shares in the last quarter. Finally, Legato Capital Management LLC grew its position in shares of Arcellx by 36.1% in the 4th quarter. Legato Capital Management LLC now owns 5,999 shares of the company's stock valued at $460,000 after purchasing an additional 1,591 shares during the period. 96.03% of the stock is currently owned by institutional investors and hedge funds.

Arcellx Stock Performance

NASDAQ ACLX traded down $11.88 during trading hours on Tuesday, reaching $52.77. 2,995,553 shares of the company's stock were exchanged, compared to its average volume of 563,160. Arcellx, Inc. has a one year low of $47.88 and a one year high of $107.37. The company's 50-day moving average is $64.99 and its two-hundred day moving average is $73.54. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of -74.32 and a beta of 0.34.

Arcellx (NASDAQ:ACLX - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.87) EPS for the quarter, missing analysts' consensus estimates of ($0.63) by ($0.24). The company 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%. Research analysts predict that Arcellx, Inc. will post -1.58 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Christopher Heery sold 10,155 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $63.79, for a total transaction of $647,787.45. Following the completion of the transaction, the insider now directly owns 37,486 shares in the company, valued at $2,391,231.94. This represents a 21.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kavita Patel sold 1,500 shares of the company's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $64.20, for a total value of $96,300.00. The disclosure for this sale can be found here. Insiders have sold a total of 54,455 shares of company stock worth $3,407,903 over the last three months. Corporate insiders own 6.24% of the company's stock.

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).