Christopher Heery Sells 300 Shares of Arcellx (NASDAQ:ACLX) Stock

Key Points

• Insider Christopher Heery sold 300 shares of Arcellx stock for a total of $24,000, representing a 0.87% decrease in his position.
• Arcellx reported a quarterly loss of ($0.94) EPS, which exceeded analysts' expectations, but revenues of $7.55 million fell short of the $16.76 million estimate.
• Hedge funds and institutional investors own 96.03% of Arcellx's stock, indicating strong institutional interest in the company.

Arcellx, Inc. (NASDAQ:ACLX - Get Free Report) insider Christopher Heery sold 300 shares of the firm's stock in a transaction on Friday, September 19th. The stock was sold at an average price of $80.00, for a total value of $24,000.00. Following the transaction, the insider owned 34,127 shares of the company's stock, valued at approximately $2,730,160. This represents a 0.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Christopher Heery also recently made the following trade(s):

• On Thursday, September 18th, Christopher Heery sold 3,343 shares of Arcellx stock. The stock was sold at an average price of $80.01, for a total value of $267,473.43.

Arcellx Stock Performance

Shares of ACLX traded up $0.36 during midday trading on Monday, hitting $78.22. 275,642 shares of the stock were exchanged, compared to its average volume of 526,649. Arcellx, Inc. has a 52-week low of $47.86 and a 52-week high of $107.37. The stock has a fifty day simple moving average of $71.85 and a 200 day simple moving average of $66.85. The firm has a market cap of $4.34 billion, a P/E ratio of -22.87 and a beta of 0.28.

Arcellx (NASDAQ:ACLX - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.94) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.03) by $0.09. The firm had revenue of $7.55 million during the quarter, compared to analyst estimates of $16.76 million. Arcellx had a negative return on equity of 43.04% and a negative net margin of 329.93%. As a group, equities research analysts forecast that Arcellx, Inc. will post -1.58 EPS for the current fiscal year.

Institutional Trading of Arcellx

A number of hedge funds and other institutional investors have recently made changes to their positions in ACLX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Arcellx by 6.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,363 shares of the company's stock worth $2,103,000 after purchasing an additional 1,589 shares in the last quarter. Millennium Management LLC increased its position in shares of Arcellx by 123.7% during the fourth quarter. Millennium Management LLC now owns 22,370 shares of the company's stock worth $1,716,000 after purchasing an additional 12,370 shares in the last quarter. ProShare Advisors LLC increased its position in shares of Arcellx by 29.8% during the fourth quarter. ProShare Advisors LLC now owns 14,700 shares of the company's stock worth $1,127,000 after purchasing an additional 3,378 shares in the last quarter. Two Sigma Advisers LP increased its position in shares of Arcellx by 24.4% during the fourth quarter. Two Sigma Advisers LP now owns 5,600 shares of the company's stock worth $429,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Woodline Partners LP increased its position in shares of Arcellx by 13.2% during the fourth quarter. Woodline Partners LP now owns 125,649 shares of the company's stock worth $9,636,000 after purchasing an additional 14,660 shares in the last quarter. Institutional investors and hedge funds own 96.03% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ACLX shares. Scotiabank lifted their target price on Arcellx from $93.00 to $133.00 and gave the company a "sector outperform" rating in a report on Thursday, July 31st. Cantor Fitzgerald upgraded Arcellx to a "strong-buy" rating in a report on Monday, August 4th. Citigroup started coverage on Arcellx in a report on Tuesday, June 17th. They issued a "buy" rating and a $110.00 target price for the company. Finally, HC Wainwright restated a "buy" rating and issued a $115.00 price target on shares of Arcellx in a research note on Monday, June 16th. Two equities research analysts have rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the company. According to MarketBeat.com, Arcellx has an average rating of "Buy" and an average price target of $114.31.

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).