Christopher Heery Sells 21,034 Shares of Arcellx (NASDAQ:ACLX) Stock

Key Points

• Christopher Heery, an insider at Arcellx, sold 21,034 shares of the company's stock for a total of approximately $1.7 million, resulting in a 97.12% decrease in his ownership position.
• Arcellx's stock has fluctuated significantly over the past year, with a low of $47.86 and a high of $107.37, currently trading around $82.10.
• Recent analyst ratings show a positive outlook for Arcellx, with a consensus price target of $114.31 and multiple analysts assigning a "buy" or "strong-buy" rating.

Arcellx, Inc. (NASDAQ:ACLX - Get Free Report) insider Christopher Heery sold 21,034 shares of the firm's stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $81.28, for a total transaction of $1,709,643.52. Following the sale, the insider owned 624 shares in the company, valued at approximately $50,718.72. This trade represents a 97.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Monday, September 29th, Christopher Heery sold 73 shares of Arcellx stock. The stock was sold at an average price of $80.16, for a total transaction of $5,851.68.
• On Friday, September 26th, Christopher Heery sold 12,396 shares of Arcellx stock. The shares were sold at an average price of $80.12, for a total transaction of $993,167.52.
• On Friday, September 19th, Christopher Heery sold 300 shares of Arcellx stock. The shares were sold at an average price of $80.00, for a total transaction of $24,000.00.
• On Thursday, September 18th, Christopher Heery sold 3,343 shares of Arcellx stock. The shares were sold at an average price of $80.01, for a total transaction of $267,473.43.

Arcellx Price Performance

NASDAQ:ACLX traded up $2.99 during mid-day trading on Tuesday, hitting $82.10. 641,792 shares of the company's stock were exchanged, compared to its average volume of 443,070. Arcellx, Inc. has a one year low of $47.86 and a one year high of $107.37. The business has a fifty day moving average price of $73.09 and a 200 day moving average price of $67.22. The company has a market cap of $4.55 billion, a PE ratio of -24.01 and a beta of 0.28.

Arcellx (NASDAQ:ACLX - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.94) EPS for the quarter, topping the consensus estimate of ($1.03) by $0.09. The business had revenue of $7.55 million for the quarter, compared to analyst estimates of $16.76 million. Arcellx had a negative net margin of 329.93% and a negative return on equity of 43.04%. On average, equities analysts forecast that Arcellx, Inc. will post -1.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ACLX shares. Cantor Fitzgerald raised shares of Arcellx to a "strong-buy" rating in a report on Monday, August 4th. Citigroup started coverage on shares of Arcellx in a report on Tuesday, June 17th. They set a "buy" rating and a $110.00 price objective for the company. HC Wainwright reissued a "buy" rating and set a $115.00 price objective on shares of Arcellx in a report on Monday, June 16th. Finally, Scotiabank boosted their price objective on shares of Arcellx from $93.00 to $133.00 and gave the company a "sector outperform" rating in a report on Thursday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $114.31.

Hedge Funds Weigh In On Arcellx

Institutional investors have recently bought and sold shares of the business. Amalgamated Bank raised its stake in shares of Arcellx by 12.0% in the first quarter. Amalgamated Bank now owns 1,508 shares of the company's stock valued at $99,000 after acquiring an additional 161 shares during the period. GAMMA Investing LLC increased its stake in Arcellx by 104.1% in the 1st quarter. GAMMA Investing LLC now owns 494 shares of the company's stock worth $32,000 after buying an additional 252 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Arcellx by 54.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,702 shares of the company's stock worth $468,000 after buying an additional 2,702 shares during the period. Rhumbline Advisers increased its stake in Arcellx by 6.4% in the 1st quarter. Rhumbline Advisers now owns 63,751 shares of the company's stock worth $4,182,000 after buying an additional 3,848 shares during the period. Finally, Strs Ohio purchased a new position in Arcellx in the 1st quarter worth about $938,000. Institutional investors own 96.03% of the company's stock.

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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