Rhumbline Advisers Acquires 3,848 Shares of Arcellx, Inc. $ACLX

Key Points

• Rhumbline Advisers increased its holdings in Arcellx, Inc. by 6.4% during Q1, now owning approximately 63,751 shares valued at $4,182,000.
• Arcellx shares received positive ratings from several brokerages, with a consensus target price of $114.31 and multiple "buy" and "strong-buy" designations.
• The stock reported a loss of $0.94 EPS for the last quarter, exceeding analysts' expectations of a loss of $1.03, while revenue was lower than anticipated at $7.55 million.

Rhumbline Advisers grew its holdings in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 6.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 63,751 shares of the company's stock after purchasing an additional 3,848 shares during the period. Rhumbline Advisers owned approximately 0.12% of Arcellx worth $4,182,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in shares of Arcellx by 104.1% during the 1st quarter. GAMMA Investing LLC now owns 494 shares of the company's stock worth $32,000 after purchasing an additional 252 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Arcellx during the first quarter valued at about $50,000. GF Fund Management CO. LTD. acquired a new position in Arcellx in the fourth quarter worth about $87,000. Amalgamated Bank lifted its holdings in Arcellx by 12.0% in the first quarter. Amalgamated Bank now owns 1,508 shares of the company's stock worth $99,000 after acquiring an additional 161 shares during the last quarter. Finally, Covestor Ltd raised its holdings in shares of Arcellx by 47.6% during the first quarter. Covestor Ltd now owns 2,137 shares of the company's stock valued at $140,000 after buying an additional 689 shares during the last quarter. Hedge funds and other institutional investors own 96.03% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on ACLX. Scotiabank lifted their price target on shares of Arcellx from $93.00 to $133.00 and gave the stock a "sector outperform" rating in a research report on Thursday, July 31st. HC Wainwright reissued a "buy" rating and set 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 research note on Monday, August 4th. Finally, Citigroup initiated coverage on shares of Arcellx in a research report on Tuesday, June 17th. They set a "buy" rating and a $110.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $114.31.

Insider Activity at Arcellx

In related news, insider Christopher Heery sold 3,343 shares of the firm's stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $80.01, for a total transaction of $267,473.43. Following the sale, the insider directly owned 34,427 shares in the company, valued at $2,754,504.27. This trade represents a 8.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 8.35% of the stock is currently owned by insiders.

Arcellx Stock Down 2.7%

NASDAQ ACLX traded down $2.12 during trading hours on Friday, hitting $77.86. The company's stock had a trading volume of 825,799 shares, compared to its average volume of 508,098. The stock has a fifty day moving average of $71.68 and a 200 day moving average of $66.82. The firm has a market capitalization of $4.32 billion, a P/E ratio of -22.77 and a beta of 0.28. Arcellx, Inc. has a twelve month low of $47.86 and a twelve month high of $107.37.

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

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).