Arcellx, Inc. $ACLX Shares Purchased by RA Capital Management L.P.

Key Points

• RA Capital Management L.P. increased its stake in Arcellx, Inc. by 8.9%, holding a total of 3,036,527 shares, making it the firm's 6th largest position.
• Multiple analysts have provided positive ratings and price targets for Arcellx, with a consensus average target of $114.31 and several firms issuing "buy" or "strong-buy" ratings.
• Arcellx reported an earnings per share of ($0.94), beating estimates, but had revenues of $7.55 million, falling short of expectations.

RA Capital Management L.P. boosted its stake in Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 8.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 3,036,527 shares of the company's stock after purchasing an additional 249,200 shares during the period. Arcellx comprises approximately 3.3% of RA Capital Management L.P.'s portfolio, making the stock its 6th largest position. RA Capital Management L.P. owned 5.51% of Arcellx worth $199,196,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Dark Forest Capital Management LP increased its holdings in Arcellx by 342.3% in the 1st quarter. Dark Forest Capital Management LP now owns 71,070 shares of the company's stock valued at $4,662,000 after purchasing an additional 55,003 shares during the last quarter. Quarry LP acquired a new position in shares of Arcellx in the first quarter worth $190,000. Paradigm Biocapital Advisors LP grew its stake in shares of Arcellx by 2.8% in the first quarter. Paradigm Biocapital Advisors LP now owns 4,492,032 shares of the company's stock worth $294,677,000 after acquiring an additional 120,431 shares in the last quarter. Tema Etfs LLC grew its stake in shares of Arcellx by 281.0% in the first quarter. Tema Etfs LLC now owns 28,450 shares of the company's stock worth $1,866,000 after acquiring an additional 20,982 shares in the last quarter. Finally, Affinity Asset Advisors LLC grew its stake in shares of Arcellx by 24.7% in the first quarter. Affinity Asset Advisors LLC now owns 530,000 shares of the company's stock worth $34,768,000 after acquiring an additional 105,000 shares in the last quarter. Institutional investors and hedge funds own 96.03% of the company's stock.

Analysts Set New Price Targets

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

Insider Transactions at Arcellx

In related news, Director Kavita Patel sold 1,500 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $67.36, for a total transaction of $101,040.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 8.35% of the stock is owned by corporate insiders.

Arcellx Price Performance

NASDAQ ACLX opened at $69.39 on Tuesday. Arcellx, Inc. has a 1 year low of $47.86 and a 1 year high of $107.37. The company has a market capitalization of $3.85 billion, a PE ratio of -20.29 and a beta of 0.28. The company has a fifty day moving average of $69.40 and a two-hundred day moving average of $65.80.

Arcellx (NASDAQ:ACLX - Get Free Report) last announced 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 net margin of 329.93% and a negative return on equity of 43.04%. The business had revenue of $7.55 million during the quarter, compared to analysts' expectations of $16.76 million. On average, research analysts expect 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).

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