Arcellx, Inc. $ACLX Shares Sold by Sector Gamma AS

Key Points

• Sector Gamma AS reduced its holdings in Arcellx, Inc. by 28.6% during Q2, owning 25,000 shares valued at approximately $1.646 million after selling 10,000 shares.
• Arcellx reported a loss of $0.94 EPS for Q2, surpassing analyst expectations of ($1.03), but revenue of $7.55 million fell short of projections.
• Brokerages maintain a consensus rating of "Moderate Buy" for Arcellx with a target price of $113.08, while some analysts have a buy rating with target prices up to $133.00.

Sector Gamma AS cut its holdings in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 28.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,000 shares of the company's stock after selling 10,000 shares during the period. Sector Gamma AS's holdings in Arcellx were worth $1,646,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC boosted its position 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 buying an additional 252 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Arcellx during the first quarter worth approximately $50,000. GF Fund Management CO. LTD. raised its holdings in Arcellx by 21.9% during the first quarter. GF Fund Management CO. LTD. now owns 1,384 shares of the company's stock worth $91,000 after purchasing an additional 249 shares in the last quarter. Amalgamated Bank raised its holdings in 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 in the last quarter. Finally, Covestor Ltd raised its holdings in 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 in the last quarter. 96.03% of the stock is currently owned by institutional investors and hedge funds.

Arcellx Stock Up 0.9%

ACLX opened at $84.07 on Friday. The firm has a market cap of $4.66 billion, a PE ratio of -24.58 and a beta of 0.31. The business has a fifty day simple moving average of $78.23 and a 200-day simple moving average of $69.43. Arcellx, Inc. has a fifty-two week low of $47.86 and a fifty-two week high of $107.37.

Arcellx (NASDAQ:ACLX - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.94) EPS for the quarter, topping the consensus estimate of ($1.03) by $0.09. The business had revenue of $7.55 million during the quarter, compared to analysts' expectations of $16.76 million. Arcellx had a negative return on equity of 43.04% and a negative net margin of 329.93%. On average, equities research analysts anticipate that Arcellx, Inc. will post -1.58 EPS for the current fiscal year.

Insider Activity at Arcellx

In other news, insider Christopher Heery sold 21,034 shares of the firm's stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $81.28, for a total value of $1,709,643.52. Following the completion of the sale, the insider owned 624 shares of the company's stock, valued at $50,718.72. This trade represents a 97.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders sold a total of 37,146 shares of company stock valued at $3,000,136 over the last ninety days. Company insiders own 8.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ACLX. Weiss Ratings reissued a "sell (d-)" rating on shares of Arcellx in a report on Wednesday, October 8th. Stifel Nicolaus set a $129.00 target price on Arcellx and gave the stock a "buy" rating in a report on Thursday, October 16th. Cantor Fitzgerald reiterated a "neutral" rating and set a $88.00 price objective on shares of Arcellx in a research report on Thursday, October 9th. Finally, Scotiabank raised their price objective on Arcellx from $93.00 to $133.00 and gave the stock a "sector outperform" rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Arcellx presently has a consensus rating of "Moderate Buy" and a consensus target price of $113.08.

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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