Arcellx, Inc. $ACLX is Vestal Point Capital LP's Largest Position

Key Points

• Vestal Point Capital LP significantly increased its stake in Arcellx, Inc. by 402.7%, making the stock approximately 11.2% of its portfolio with a valuation of $156.6 million.
• Arcellx reported a quarterly loss of ($0.94) EPS, exceeding expectations, but its revenue of $7.55 million fell short of analyst estimates of $16.76 million.
• Analyst ratings are largely positive for Arcellx, with a consensus target price of $114.31 and multiple analysts rating the stock as a "Buy" or "Strong Buy."

Vestal Point Capital LP boosted its stake in Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 402.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,387,720 shares of the company's stock after purchasing an additional 1,912,720 shares during the quarter. Arcellx comprises approximately 11.2% of Vestal Point Capital LP's portfolio, making the stock its biggest holding. Vestal Point Capital LP owned approximately 4.34% of Arcellx worth $156,634,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Paradigm Biocapital Advisors LP grew its stake in Arcellx by 2.8% in the 1st quarter. Paradigm Biocapital Advisors LP now owns 4,492,032 shares of the company's stock worth $294,677,000 after buying an additional 120,431 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Arcellx by 19.7% during the 1st quarter. Vanguard Group Inc. now owns 3,985,156 shares of the company's stock worth $261,426,000 after acquiring an additional 655,064 shares during the last quarter. RA Capital Management L.P. grew its position in Arcellx by 8.9% in the first quarter. RA Capital Management L.P. now owns 3,036,527 shares of the company's stock worth $199,196,000 after acquiring an additional 249,200 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its stake in Arcellx by 135.9% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,665,138 shares of the company's stock valued at $109,234,000 after acquiring an additional 959,216 shares during the last quarter. Finally, Affinity Asset Advisors LLC increased its stake in Arcellx by 24.7% in the first quarter. Affinity Asset Advisors LLC now owns 530,000 shares of the company's stock valued at $34,768,000 after acquiring an additional 105,000 shares during the last quarter. 96.03% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Kavita Patel sold 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The shares were 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 SEC, which is accessible through this link. Corporate insiders own 8.35% of the company's stock.

Arcellx Trading Down 1.2%

ACLX opened at $69.39 on Tuesday. Arcellx, Inc. has a 12 month low of $47.86 and a 12 month high of $107.37. The business's 50-day moving average price is $69.40 and its 200-day moving average price is $65.80. The company has a market cap of $3.85 billion, a P/E ratio of -20.29 and a beta of 0.28.

Arcellx (NASDAQ:ACLX - Get Free Report) last posted its quarterly earnings results 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. Arcellx had a negative return on equity of 43.04% and a negative net margin of 329.93%.The business had revenue of $7.55 million for the quarter, compared to analyst estimates of $16.76 million. Equities research analysts forecast that Arcellx, Inc. will post -1.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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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