Brevan Howard Capital Management LP Invests $466,000 in Arcellx, Inc. (NASDAQ:ACLX)

Brevan Howard Capital Management LP bought a new position in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 6,079 shares of the company's stock, valued at approximately $466,000.

A number of other institutional investors have also recently bought and sold shares of ACLX. 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 worth $610,194,000 after acquiring an additional 1,477,360 shares during the period. Gilead Sciences Inc. bought a new position in Arcellx during the 4th quarter worth about $515,418,000. Vanguard Group Inc. raised its stake in shares of Arcellx by 35.3% in the 4th quarter. Vanguard Group Inc. now owns 3,330,092 shares of the company's stock valued at $255,385,000 after purchasing an additional 867,996 shares during the period. RA Capital Management L.P. lifted its holdings in shares of Arcellx by 50.5% in the fourth quarter. RA Capital Management L.P. now owns 2,787,327 shares of the company's stock valued at $213,760,000 after purchasing an additional 935,848 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Arcellx by 11.6% in 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 purchasing an additional 220,711 shares in the last quarter. Institutional investors own 96.03% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Scotiabank dropped their target price on Arcellx from $133.00 to $93.00 and set a "sector outperform" rating on the stock in a research report on Friday. Thirteen research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $109.31.

Insider Buying and Selling at Arcellx

In related news, Director Kavita Patel sold 1,500 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $71.64, for a total value of $107,460.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Christopher Heery sold 10,155 shares of Arcellx stock in a transaction on Monday, February 24th. The stock was sold at an average price of $63.79, for a total transaction of $647,787.45. Following the transaction, the insider now directly owns 37,486 shares of the company's stock, valued at approximately $2,391,231.94. This trade represents a 21.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,455 shares of company stock worth $3,407,903 over the last quarter. 6.24% of the stock is currently owned by insiders.

Arcellx Price Performance

ACLX stock traded down $1.25 during mid-day trading on Tuesday, reaching $58.25. The company had a trading volume of 750,802 shares, compared to its average volume of 577,998. The company has a market capitalization of $3.21 billion, a price-to-earnings ratio of -82.04 and a beta of 0.34. Arcellx, Inc. has a 52 week low of $47.86 and a 52 week high of $107.37. The stock has a 50 day simple moving average of $64.11 and a two-hundred day simple moving average of $72.42.

Arcellx (NASDAQ:ACLX - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($1.13) earnings per share for the quarter, missing the consensus estimate of ($0.84) by ($0.29). The firm had revenue of $8.13 million during the quarter, compared to the consensus estimate of $19.51 million. Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. On average, equities analysts predict that Arcellx, Inc. will post -1.58 EPS for the current year.

Arcellx 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).