Arcellx, Inc. $ACLX Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc reduced its holdings in Arcellx, Inc. by 38.5%, owning 103,460 shares worth approximately $6.8 million after selling 64,860 shares in the second quarter.
• Analysts have mixed ratings for ACLX; Stifel Nicolaus set a $129 price target and a "buy" rating, while Weiss Ratings issued a "sell" rating, resulting in an average rating of "Moderate Buy" with a consensus price target of $113.08.
• Insider Christopher Heery sold 21,034 shares of Arcellx stock for over $1.7 million, representing a 97.12% decrease in their ownership, with insiders collectively owning 8.35% of the stock.

TD Asset Management Inc lessened its holdings in Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 38.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 103,460 shares of the company's stock after selling 64,860 shares during the quarter. TD Asset Management Inc owned 0.19% of Arcellx worth $6,813,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Personalized Indexing Management LLC boosted its holdings in Arcellx by 7.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 3,428 shares of the company's stock worth $226,000 after acquiring an additional 228 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Arcellx by 15.8% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,129 shares of the company's stock worth $140,000 after acquiring an additional 290 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Arcellx by 8.3% in the second quarter. Harbor Capital Advisors Inc. now owns 24,721 shares of the company's stock worth $1,628,000 after acquiring an additional 1,885 shares in the last quarter. Voya Investment Management LLC boosted its holdings in Arcellx by 103.4% in the first quarter. Voya Investment Management LLC now owns 277,102 shares of the company's stock worth $18,178,000 after acquiring an additional 140,899 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in Arcellx by 6.4% in the first quarter. Rhumbline Advisers now owns 63,751 shares of the company's stock worth $4,182,000 after acquiring an additional 3,848 shares in the last quarter. Institutional investors and hedge funds own 96.03% of the company's stock.

Wall Street Analysts Forecast Growth

ACLX has been the subject of several recent analyst reports. Stifel Nicolaus set a $129.00 price target on Arcellx and gave the stock a "buy" rating in a report on Thursday. Cantor Fitzgerald restated a "neutral" rating and issued a $88.00 price objective on shares of Arcellx in a research note on Thursday, October 9th. 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. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Arcellx in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $113.08.

Insiders Place Their Bets

In related news, insider Christopher Heery sold 21,034 shares of Arcellx stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $81.28, for a total transaction of $1,709,643.52. Following the completion of the transaction, the insider directly owned 624 shares in the company, valued at approximately $50,718.72. This trade represents a 97.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 37,146 shares of company stock worth $3,000,136 in the last three months. 8.35% of the stock is currently owned by company insiders.

Arcellx Trading Down 2.1%

Shares of ACLX stock opened at $86.99 on Monday. The stock has a 50 day moving average of $77.12 and a 200 day moving average of $68.83. The stock has a market cap of $4.82 billion, a P/E ratio of -25.44 and a beta of 0.31. 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 announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.94) earnings per share for the quarter, beating the consensus estimate of ($1.03) by $0.09. The company 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, research analysts predict that Arcellx, Inc. will post -1.58 earnings per share for the current fiscal year.

Arcellx 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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