Bamco Inc. NY Increases Holdings in Arcellx, Inc. (NASDAQ:ACLX)

Bamco Inc. NY raised its position in Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 1.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 348,333 shares of the company's stock after purchasing an additional 5,501 shares during the quarter. Bamco Inc. NY owned about 0.64% of Arcellx worth $26,714,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Headlands Technologies LLC purchased a new position in shares of Arcellx during the 4th quarter worth approximately $41,000. KBC Group NV increased its stake 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 buying an additional 377 shares during the period. Avanza Fonder AB acquired a new stake in shares of Arcellx in the 4th quarter valued at $184,000. Kazazian Asset Management LLC acquired a new stake in Arcellx in the fourth quarter valued at $204,000. Finally, Landscape Capital Management L.L.C. purchased a new stake in Arcellx during the fourth quarter worth approximately $214,000. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Arcellx

In related news, insider Rami Elghandour sold 38,300 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $62.02, for a total transaction of $2,375,366.00. Following the completion of the transaction, the insider now directly owns 149,186 shares of the company's stock, valued at $9,252,515.72. This represents a 20.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Kavita Patel sold 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $57.50, for a total value of $86,250.00. The disclosure for this sale can be found here. Insiders sold a total of 55,955 shares of company stock valued at $3,504,758 in the last ninety days. Insiders own 6.24% of the company's stock.

Arcellx Price Performance

NASDAQ ACLX opened at $65.55 on Monday. Arcellx, Inc. has a 12 month low of $47.88 and a 12 month high of $107.37. The company has a market capitalization of $3.61 billion, a price-to-earnings ratio of -92.32 and a beta of 0.33. The firm'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 announced its earnings results on Thursday, February 27th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.63) by ($0.24). Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. The business had revenue of $15.27 million for the quarter, compared to analysts' expectations of $27.42 million. As a group, sell-side analysts forecast that Arcellx, Inc. will post -1.58 earnings per share for the current 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).

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