60,364 Shares in Arcellx, Inc. $ACLX Purchased by Aberdeen Group plc

Key Points

• Aberdeen Group plc bought 60,364 shares of Arcellx in Q4 (about $3.94 million), leaving institutional investors owning roughly 96.03% of the company.
• Insider selling has been substantial: Christopher Heery sold 5,882 shares and Rami Elghandour sold 89,916 shares, with insiders offloading 109,366 shares (~$11.53 million) in the last 90 days and now owning 8.35% of the stock.
• Arcellx shares trade near their 52-week high (opened $114.79) and a $6.71B market cap, but the company reported Q4 revenue of $1.65M versus $13.4M expected (EPS -$1.01 met estimates), and analysts have an average rating of "Hold" with a $111.87 target.

Aberdeen Group plc purchased a new position in Arcellx, Inc. (NASDAQ:ACLX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 60,364 shares of the company's stock, valued at approximately $3,936,000. Aberdeen Group plc owned approximately 0.10% of Arcellx at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Banque Pictet & Cie SA purchased a new position in Arcellx in the 4th quarter worth about $333,000. Tema Etfs LLC increased its stake in Arcellx by 6.8% in the 4th quarter. Tema Etfs LLC now owns 39,314 shares of the company's stock worth $2,563,000 after purchasing an additional 2,505 shares in the last quarter. Avanza Fonder AB increased its stake in Arcellx by 64.3% in the 4th quarter. Avanza Fonder AB now owns 2,003 shares of the company's stock worth $131,000 after purchasing an additional 784 shares in the last quarter. Congress Asset Management Co. grew its stake in Arcellx by 2.8% during the 4th quarter. Congress Asset Management Co. now owns 25,999 shares of the company's stock valued at $1,695,000 after acquiring an additional 697 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in Arcellx by 48.4% during the 4th quarter. SG Americas Securities LLC now owns 12,041 shares of the company's stock valued at $785,000 after acquiring an additional 3,926 shares in the last quarter. Hedge funds and other institutional investors own 96.03% of the company's stock.

Insider Activity at Arcellx

In related news, insider Christopher Heery sold 5,882 shares of the business's stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $68.51, for a total value of $402,975.82. Following the completion of the sale, the insider directly owned 23,749 shares in the company, valued at approximately $1,627,043.99. The trade was a 19.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Rami Elghandour sold 89,916 shares of the business's stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $113.92, for a total value of $10,243,230.72. Following the completion of the sale, the insider owned 276,051 shares of the company's stock, valued at approximately $31,447,729.92. This trade represents a 24.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 109,366 shares of company stock valued at $11,526,708. Corporate insiders own 8.35% of the company's stock.

Arcellx Stock Performance

Shares of NASDAQ ACLX opened at $114.79 on Thursday. The stock has a market cap of $6.71 billion, a price-to-earnings ratio of -28.20 and a beta of 0.25. The business has a 50 day simple moving average of $98.75 and a 200 day simple moving average of $84.44. Arcellx, Inc. has a 52 week low of $47.86 and a 52 week high of $114.94.

Arcellx (NASDAQ:ACLX - Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($1.01) EPS for the quarter, meeting the consensus estimate of ($1.01). Arcellx had a negative return on equity of 55.42% and a negative net margin of 1,027.26%.The business had revenue of $1.65 million during the quarter, compared to analysts' expectations of $13.40 million. On average, analysts predict that Arcellx, Inc. will post -1.58 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ACLX. TD Cowen cut Arcellx from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 2nd. Rothschild & Co Redburn cut Arcellx from a "buy" rating to a "neutral" rating and set a $82.00 target price on the stock. in a research note on Thursday, February 12th. Leerink Partners reaffirmed a "market perform" rating and set a $115.00 target price on shares of Arcellx in a research note on Tuesday, February 24th. HC Wainwright cut Arcellx from a "buy" rating to a "neutral" rating and set a $115.00 target price on the stock. in a research note on Monday, February 23rd. Finally, Needham & Company LLC cut Arcellx from a "buy" rating to a "hold" rating in a research note on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, sixteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $111.87.

About Arcellx

Arcellx, Inc NASDAQ: ACLX is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of next-generation cell therapies for oncology and autoimmune diseases. The company's proprietary ARC-SparX™ platform is designed to enable precise control over cell-surface receptor activation and to improve the safety, efficacy and durability of adoptive cell therapies. Leveraging this technology, Arcellx engineers immune cells with modular antigen-binding domains that can be exchanged to target a variety of disease-associated markers.

The company's pipeline comprises multiple wholly owned programs in hematologic malignancies and solid tumors at various stages of preclinical and clinical development.

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