Arcellx, Inc. $ACLX Stock Position Lowered by US Bancorp DE

Key Points

• US Bancorp DE reduced its position in Arcellx by 80.1%, now holding just 1,197 shares valued at $79,000 as of the latest SEC filing.
• Several institutional investors, including GAMMA Investing LLC and Dimensional Fund Advisors LP, significantly increased their stakes in Arcellx during the same period.
• Analysts have a favorable outlook for Arcellx, with an average target price of $114.31 and most rating it as a "buy."

US Bancorp DE lessened its position in Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 80.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,197 shares of the company's stock after selling 4,826 shares during the period. US Bancorp DE's holdings in Arcellx were worth $79,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Amalgamated Bank raised its stake in shares of Arcellx by 12.0% in the 1st quarter. Amalgamated Bank now owns 1,508 shares of the company's stock worth $99,000 after buying an additional 161 shares in the last quarter. GAMMA Investing LLC raised 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 purchasing an additional 252 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Arcellx by 156.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 305,088 shares of the company's stock worth $23,400,000 after purchasing an additional 186,013 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Arcellx by 54.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 7,702 shares of the company's stock worth $468,000 after purchasing an additional 2,702 shares during the period. Finally, Millennium Management LLC raised its position in shares of Arcellx by 123.7% during the fourth quarter. Millennium Management LLC now owns 22,370 shares of the company's stock worth $1,716,000 after purchasing an additional 12,370 shares during the period. Institutional investors own 96.03% of the company's stock.

Insiders Place Their Bets

In other Arcellx news, Director Kavita Patel sold 1,500 shares of the company's 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.35% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ACLX. HC Wainwright reiterated a "buy" rating and set a $115.00 price target on shares of Arcellx in a report on Monday, June 16th. Cantor Fitzgerald upgraded Arcellx to a "strong-buy" rating in a report on Monday, August 4th. Scotiabank lifted 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, Citigroup began coverage on Arcellx in a report on Tuesday, June 17th. They set a "buy" rating and a $110.00 price target on the stock. Thirteen equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Arcellx has an average rating of "Buy" and an average target price of $114.31.

Arcellx Stock Down 3.1%

Arcellx stock opened at $71.82 on Tuesday. Arcellx, Inc. has a 12 month low of $47.86 and a 12 month high of $107.37. The stock has a market cap of $3.98 billion, a price-to-earnings ratio of -21.00 and a beta of 0.28. The business has a 50 day moving average price of $68.25 and a two-hundred day moving average price of $65.48.

Arcellx (NASDAQ:ACLX - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.94) earnings per share (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 company had revenue of $7.55 million during the quarter, compared to analysts' expectations of $16.76 million. On average, analysts expect 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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