Lord Abbett & CO. LLC Has $74.76 Million Position in Arcellx, Inc. (NASDAQ:ACLX)

Lord Abbett & CO. LLC grew its holdings in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 9.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 974,832 shares of the company's stock after buying an additional 82,984 shares during the period. Lord Abbett & CO. LLC owned 1.80% of Arcellx worth $74,760,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in ACLX. Gilead Sciences Inc. bought a new stake in shares of Arcellx during the fourth quarter valued at approximately $515,418,000. FMR LLC raised its holdings in shares of Arcellx by 22.8% during the fourth quarter. FMR LLC now owns 7,956,633 shares of the company's stock valued at $610,194,000 after buying an additional 1,477,360 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Arcellx by 35.3% during the fourth quarter. Vanguard Group Inc. now owns 3,330,092 shares of the company's stock valued at $255,385,000 after buying an additional 867,996 shares during the last quarter. Capital World Investors bought a new stake in shares of Arcellx during the fourth quarter valued at approximately $19,393,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Arcellx by 11.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,121,322 shares of the company's stock valued at $162,685,000 after acquiring an additional 220,711 shares during the period. Institutional investors own 96.03% of the company's stock.

Arcellx Price Performance

Shares of NASDAQ ACLX traded up $0.89 during mid-day trading on Wednesday, reaching $65.60. 96,663 shares of the company traded hands, compared to its average volume of 553,503. Arcellx, Inc. has a fifty-two week low of $47.88 and a fifty-two week high of $107.37. The firm has a market cap of $3.61 billion, a PE ratio of -92.39 and a beta of 0.33. The stock has a fifty day simple moving average of $64.78 and a 200-day simple moving average of $74.50.

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

Insider Activity at Arcellx

In other Arcellx news, insider Christopher Heery sold 10,155 shares of Arcellx stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $63.79, for a total value of $647,787.45. Following the transaction, the insider now owns 37,486 shares in the company, valued at approximately $2,391,231.94. The trade was a 21.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Kavita Patel sold 1,500 shares of Arcellx stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $64.20, for a total transaction of $96,300.00. The disclosure for this sale can be found here. Insiders have sold 55,955 shares of company stock worth $3,504,758 over the last quarter. 6.24% of the stock is currently owned by company 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).