Acuta Capital Partners LLC Sells 51,357 Shares of Arcellx, Inc. (NASDAQ:ACLX)

Acuta Capital Partners LLC lessened its position in Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 82.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,743 shares of the company's stock after selling 51,357 shares during the period. Acuta Capital Partners LLC's holdings in Arcellx were worth $824,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Headlands Technologies LLC acquired a new stake in Arcellx during the 4th quarter worth $41,000. KBC Group NV raised its position in shares of 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 purchasing an additional 377 shares during the period. Avanza Fonder AB bought a new position in shares of Arcellx during the 4th quarter valued at about $184,000. Kazazian Asset Management LLC acquired a new position in shares of Arcellx in the 4th quarter valued at approximately $204,000. Finally, Landscape Capital Management L.L.C. bought a new stake in Arcellx during the 4th quarter worth approximately $214,000. 96.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Arcellx

In other news, Director Kavita Patel sold 1,500 shares of the firm's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $63.16, for a total value of $94,740.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher Heery sold 10,155 shares of the company's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $63.79, for a total value of $647,787.45. Following the sale, the insider now owns 37,486 shares in the company, valued at $2,391,231.94. The trade was a 21.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,955 shares of company stock valued at $3,504,758 over the last three months. Company insiders own 6.24% of the company's stock.

Arcellx Price Performance

ACLX traded up $0.02 during trading on Friday, reaching $65.55. The company had a trading volume of 305,387 shares, compared to its average volume of 554,266. The company has a market cap of $3.61 billion, a P/E ratio of -92.32 and a beta of 0.33. Arcellx, Inc. has a 12 month low of $47.88 and a 12 month high of $107.37. The business's fifty day moving average price is $64.90 and its 200 day moving average price is $73.77.

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 the consensus estimate 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 during the quarter, compared to the consensus estimate of $27.42 million. As a group, sell-side analysts predict that Arcellx, Inc. will post -1.58 EPS for the current fiscal year.

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).