Affinity Asset Advisors LLC Boosts Stock Position in Arcellx, Inc. $ACLX

Key Points

• Affinity Asset Advisors LLC increased its stake in Arcellx, Inc. by 24.7%, now owning around 530,000 shares, making it the firm’s 4th largest position.
• Arcellx's stock is currently valued at approximately $68.49 per share, with significant recent trading activity from multiple institutional investors.
• Research analysts have positive outlooks on Arcellx, with a consensus rating of "Buy" and a target price of around $114.31.

Affinity Asset Advisors LLC raised its holdings in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 24.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 530,000 shares of the company's stock after acquiring an additional 105,000 shares during the quarter. Arcellx makes up about 3.3% of Affinity Asset Advisors LLC's investment portfolio, making the stock its 4th biggest position. Affinity Asset Advisors LLC owned about 0.96% of Arcellx worth $34,768,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. 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 valued at $99,000 after acquiring an additional 161 shares during the period. GAMMA Investing LLC raised its holdings in Arcellx by 104.1% during the first quarter. GAMMA Investing LLC now owns 494 shares of the company's stock valued at $32,000 after acquiring an additional 252 shares during the period. Dimensional Fund Advisors LP raised its holdings in Arcellx by 156.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 305,088 shares of the company's stock valued at $23,400,000 after acquiring an additional 186,013 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Arcellx by 54.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 7,702 shares of the company's stock valued at $468,000 after acquiring an additional 2,702 shares during the period. Finally, Millennium Management LLC raised its holdings in Arcellx by 123.7% during the fourth quarter. Millennium Management LLC now owns 22,370 shares of the company's stock valued at $1,716,000 after acquiring an additional 12,370 shares during the period. 96.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on ACLX shares. Cantor Fitzgerald upgraded Arcellx to a "strong-buy" rating in a research report on Monday, August 4th. HC Wainwright reaffirmed a "buy" rating and issued a $115.00 price objective on shares of Arcellx in a research note on Monday, June 16th. Scotiabank lifted 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, Citigroup started coverage on Arcellx in a research note on Tuesday, June 17th. They issued a "buy" rating and a $110.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $114.31.

Insiders Place Their Bets

In other Arcellx news, Director Kavita Patel sold 1,500 shares of the stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $67.36, for a total value of $101,040.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.35% of the stock is currently owned by insiders.

Arcellx Trading Down 1.2%

Shares of NASDAQ ACLX traded down $0.86 during trading hours on Friday, hitting $69.39. 518,763 shares of the company traded hands, compared to its average volume of 604,355. The stock has a market capitalization of $3.85 billion, a price-to-earnings ratio of -20.29 and a beta of 0.28. The company's 50 day moving average price is $69.28 and its 200 day moving average price is $65.76. Arcellx, Inc. has a 12 month low of $47.86 and a 12 month high of $107.37.

Arcellx (NASDAQ:ACLX - Get Free Report) last released its 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 firm had revenue of $7.55 million for the quarter, compared to the consensus estimate of $16.76 million. Arcellx had a negative return on equity of 43.04% and a negative net margin of 329.93%. Equities analysts anticipate that Arcellx, Inc. will post -1.58 EPS for the current 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).