15,000 Shares in Arcellx, Inc. (NASDAQ:ACLX) Acquired by Knott David M Jr

Key Points

• Knott David M Jr acquired 15,000 shares of Arcellx, Inc. for approximately $984,000, reflecting confidence in the company's future growth.
• Arcellx's stock is currently valued at $70.50 with a market capitalization of $3.89 billion, and it has a 52-week high of $107.37.
• Equities analysts have given Arcellx a consensus rating of "Buy", with target prices ranging from $110.00 to $133.00.

Knott David M Jr purchased a new stake in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 15,000 shares of the company's stock, valued at approximately $984,000.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in shares of Arcellx by 104.1% in the 1st quarter. GAMMA Investing LLC now owns 494 shares of the company's stock valued at $32,000 after acquiring an additional 252 shares during the period. GF Fund Management CO. LTD. purchased a new position in Arcellx in the fourth quarter valued at about $87,000. Amalgamated Bank lifted its stake in shares of Arcellx by 12.0% during the first quarter. Amalgamated Bank now owns 1,508 shares of the company's stock worth $99,000 after purchasing an additional 161 shares in the last quarter. Covestor Ltd boosted its position in shares of Arcellx by 47.6% in the first quarter. Covestor Ltd now owns 2,137 shares of the company's stock worth $140,000 after buying an additional 689 shares during the period. Finally, Xponance Inc. grew its stake in shares of Arcellx by 6.2% in the first quarter. Xponance Inc. now owns 3,278 shares of the company's stock valued at $215,000 after buying an additional 190 shares in the last quarter. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

Arcellx Stock Down 0.9%

Shares of NASDAQ ACLX opened at $70.50 on Monday. The stock's 50 day moving average price is $67.52 and its two-hundred day moving average price is $65.20. Arcellx, Inc. has a 52-week low of $47.86 and a 52-week high of $107.37. The stock has a market capitalization of $3.89 billion, a P/E ratio of -20.61 and a beta of 0.28.

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

Insider Activity

In related news, Director Kavita Patel sold 1,500 shares of the business's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $67.36, for a total transaction of $101,040.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 8.35% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on ACLX shares. Citigroup started coverage on Arcellx in a research report on Tuesday, June 17th. They set a "buy" rating and a $110.00 price target on the stock. HC Wainwright restated a "buy" rating and issued a $115.00 target price on shares of Arcellx in a research note on Monday, June 16th. Cantor Fitzgerald raised shares of Arcellx to a "strong-buy" rating in a report on Monday, August 4th. Finally, Scotiabank boosted their price objective on shares of Arcellx from $93.00 to $133.00 and gave the stock a "sector outperform" rating in a report on Thursday, July 31st. Thirteen equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Arcellx currently has a consensus rating of "Buy" and an average target price of $114.31.

About Arcellx

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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