ADAR1 Capital Management LLC Has $916,000 Position in Arcellx, Inc. $ACLX

Key Points

• ADAR1 Capital Management LLC increased its stake in Arcellx, Inc. by 252.4% during the first quarter, resulting in ownership of 13,962 shares valued at $916,000.
• Multiple analysts rated Arcellx with a consensus "Buy" rating, and Scotiabank raised their price target to $133.00.
• Arcellx reported a quarterly loss of ($0.94) per share, but this was better than the consensus estimate, indicating some strength despite challenging financial metrics.

ADAR1 Capital Management LLC grew its stake in Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 252.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,962 shares of the company's stock after buying an additional 10,000 shares during the period. ADAR1 Capital Management LLC's holdings in Arcellx were worth $916,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ACLX. GAMMA Investing LLC increased its position in Arcellx by 104.1% during the 1st quarter. GAMMA Investing LLC now owns 494 shares of the company's stock valued at $32,000 after purchasing an additional 252 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Arcellx in the 1st quarter valued at $50,000. GF Fund Management CO. LTD. bought a new stake in shares of Arcellx in the 4th quarter valued at $87,000. Amalgamated Bank increased its position 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 buying an additional 161 shares during the period. Finally, Covestor Ltd raised its stake in Arcellx by 47.6% during 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 last quarter. 96.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Arcellx Price Performance

ACLX stock opened at $69.39 on Tuesday. The company's 50-day moving average is $69.40 and its 200-day moving average is $65.80. The stock has a market capitalization of $3.85 billion, a PE ratio of -20.29 and a beta of 0.28. Arcellx, Inc. has a 1 year low of $47.86 and a 1 year high of $107.37.

Arcellx (NASDAQ:ACLX - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.94) earnings per share for the quarter, topping analysts' consensus estimates of ($1.03) by $0.09. The business had revenue of $7.55 million for the quarter, compared to the consensus estimate 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 earnings per share for the current fiscal year.

Insider Buying and Selling at Arcellx

In other news, Director Kavita Patel sold 1,500 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $67.36, for a total transaction of $101,040.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.35% of the stock is owned by insiders.

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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