Arcellx, Inc. $ACLX Shares Purchased by Paradigm Biocapital Advisors LP

Key Points

• Paradigm Biocapital Advisors LP increased its stake in Arcellx, Inc. by 2.8%, making it the firm's second-largest position, representing approximately 13.9% of its investment portfolio.
• Arcellx received positive ratings from multiple research analysts, with a consensus rating of "Buy" and a price target averaging $114.31, reflecting confidence in the company’s growth potential.
• The company reported earnings of ($0.94) per share, surpassing analyst expectations, although its revenue of $7.55 million fell short of the predicted $16.76 million.

Paradigm Biocapital Advisors LP increased its position in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 2.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,492,032 shares of the company's stock after purchasing an additional 120,431 shares during the period. Arcellx makes up 13.9% of Paradigm Biocapital Advisors LP's portfolio, making the stock its 2nd largest holding. Paradigm Biocapital Advisors LP owned about 8.16% of Arcellx worth $294,677,000 at the end of the most recent quarter.

A number of other large investors have 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 about $50,000. GF Fund Management CO. LTD. bought a new stake in shares of Arcellx in the 4th quarter valued at about $87,000. Amalgamated Bank raised its position in shares of Arcellx by 12.0% in the 1st quarter. Amalgamated Bank now owns 1,508 shares of the company's stock valued at $99,000 after purchasing an additional 161 shares during the last quarter. Finally, Covestor Ltd increased its holdings in Arcellx by 47.6% in the 1st 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. 96.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Arcellx

In other news, Director Kavita Patel sold 1,500 shares of Arcellx stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $67.36, for a total value of $101,040.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 8.35% of the company's stock.

Analyst Upgrades and Downgrades

ACLX has been the subject of several research analyst reports. Scotiabank upped their target price on Arcellx from $93.00 to $133.00 and gave the stock a "sector outperform" rating in a research note on Thursday, July 31st. HC Wainwright reaffirmed a "buy" rating and set a $115.00 target price on shares of Arcellx in a research note on Monday, June 16th. Citigroup initiated 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, Cantor Fitzgerald raised Arcellx to a "strong-buy" rating in a research note on Monday, August 4th. Two research analysts have rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $114.31.

Arcellx Trading Up 1.4%

NASDAQ ACLX traded up $1.02 on Thursday, reaching $72.24. 194,972 shares of the company were exchanged, compared to its average volume of 654,281. Arcellx, Inc. has a fifty-two week low of $47.86 and a fifty-two week high of $107.37. The stock has a market capitalization of $4.01 billion, a P/E ratio of -21.12 and a beta of 0.28. The business's fifty day moving average price is $69.67 and its 200 day moving average price is $65.86.

Arcellx (NASDAQ:ACLX - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.94) EPS for the quarter, beating analysts' consensus estimates of ($1.03) by $0.09. Arcellx had a negative return on equity of 43.04% and a negative net margin of 329.93%.The company had revenue of $7.55 million for the quarter, compared to the consensus estimate of $16.76 million. Equities research analysts forecast that Arcellx, Inc. will post -1.58 earnings per share for the current year.

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).