American Century Companies Inc. Acquires 24,875 Shares of Arcellx, Inc. $ACLX

Key Points

• American Century Companies Inc. increased its stake in Arcellx, Inc. by 84.5% during the first quarter, owning a total of 54,321 shares valued at approximately $3.56 million.
• Several institutional investors, including Dimensional Fund Advisors and HSBC Holdings, have also significantly lifted their holdings in Arcellx, which has resulted in institutional ownership reaching 96.03% of the company's stock.
• Arcellx's stock currently has an average rating of “Buy” from analysts, with a target price averaging at $114.31, following positive earnings that exceeded consensus estimates.

American Century Companies Inc. lifted its holdings in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 84.5% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 54,321 shares of the company's stock after purchasing an additional 24,875 shares during the period. American Century Companies Inc. owned 0.10% of Arcellx worth $3,563,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in ACLX. GAMMA Investing LLC grew its holdings in shares of Arcellx by 104.1% during the first quarter. GAMMA Investing LLC now owns 494 shares of the company's stock worth $32,000 after purchasing an additional 252 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Arcellx during the fourth quarter worth $87,000. Amalgamated Bank grew its holdings 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 purchasing an additional 161 shares during the last quarter. Covestor Ltd grew 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 worth $140,000 after purchasing an additional 689 shares during the last quarter. Finally, Xponance Inc. grew its holdings in shares of Arcellx by 6.2% during the first quarter. Xponance Inc. now owns 3,278 shares of the company's stock worth $215,000 after purchasing an additional 190 shares during the last quarter. Institutional investors own 96.03% of the company's stock.

Insider Transactions at Arcellx

In other Arcellx news, Director Kavita Patel sold 1,500 shares of the firm's stock in a transaction dated 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 legal filing with the SEC, which is available at the SEC website. Company insiders own 8.35% of the company's stock.

Arcellx Stock Performance

ACLX traded down $0.26 during midday trading on Thursday, reaching $70.96. 92,447 shares of the company were exchanged, compared to its average volume of 653,739. Arcellx, Inc. has a one year low of $47.86 and a one year high of $107.37. The stock has a market capitalization of $3.94 billion, a P/E ratio of -20.70 and a beta of 0.28. The stock's 50-day simple moving average is $69.67 and its 200 day simple moving average is $65.86.

Arcellx (NASDAQ:ACLX - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.94) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $7.55 million for the quarter, compared to analysts' expectations of $16.76 million. On average, research analysts anticipate that Arcellx, Inc. will post -1.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ACLX shares. Citigroup started coverage on Arcellx in a report on Tuesday, June 17th. They issued a "buy" rating and a $110.00 price target on the stock. HC Wainwright reiterated a "buy" rating and issued a $115.00 price target on shares of Arcellx in a report on Monday, June 16th. Scotiabank raised their price target on Arcellx from $93.00 to $133.00 and gave the company a "sector outperform" rating in a report on Thursday, July 31st. Finally, Cantor Fitzgerald upgraded Arcellx to a "strong-buy" rating in a 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, the company currently has an average rating of "Buy" and an average price target 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).