Arcellx, Inc. (NASDAQ:ACLX) Holdings Reduced by New York State Common Retirement Fund

Key Points

• The New York State Common Retirement Fund significantly reduced its stake in Arcellx, Inc. by 34.2% in the first quarter, leaving them with approximately $874,000 worth of shares.
• Arcellx's stock has shown volatility, with a 12-month low of $47.86 and a high of $107.37, while currently trading around $71.31.
• Recent analyst ratings for Arcellx have mostly been positive, with fourteen analysts recommending a "buy" and an average target price of $111.23.

New York State Common Retirement Fund decreased its position in Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 34.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,323 shares of the company's stock after selling 6,920 shares during the period. New York State Common Retirement Fund's holdings in Arcellx were worth $874,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Amalgamated Bank lifted 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 acquiring an additional 161 shares during the period. Xponance Inc. lifted its stake in shares of Arcellx by 6.2% in the 1st quarter. Xponance Inc. now owns 3,278 shares of the company's stock worth $215,000 after acquiring an additional 190 shares during the period. GF Fund Management CO. LTD. lifted its stake in shares of Arcellx by 21.9% in the 1st quarter. GF Fund Management CO. LTD. now owns 1,384 shares of the company's stock worth $91,000 after acquiring an additional 249 shares during the period. GAMMA Investing LLC lifted its stake in shares of Arcellx by 104.1% in the 1st quarter. GAMMA Investing LLC now owns 494 shares of the company's stock worth $32,000 after acquiring an additional 252 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in shares of Arcellx in the 4th quarter worth approximately $41,000. Institutional investors own 96.03% of the company's stock.

Insider Activity at Arcellx

In related news, Director Kavita Patel sold 1,500 shares of the firm's stock in a transaction on Tuesday, June 10th. The shares were 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 through this hyperlink. In the last quarter, insiders have sold 4,500 shares of company stock worth $284,985. Corporate insiders own 8.35% of the company's stock.

Arcellx Stock Up 1.5%

Shares of ACLX opened at $71.31 on Friday. The company's fifty day moving average is $65.85 and its 200-day moving average is $64.99. Arcellx, Inc. has a 12 month low of $47.86 and a 12 month high of $107.37. The firm has a market cap of $3.93 billion, a price-to-earnings ratio of -23.85 and a beta of 0.28.

Arcellx (NASDAQ:ACLX - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($1.13) EPS for the quarter, missing the consensus estimate of ($0.84) by ($0.29). Arcellx had a negative return on equity of 35.27% and a negative net margin of 211.46%. The business had revenue of $8.13 million for the quarter, compared to analyst estimates of $19.51 million. As a group, research analysts predict that Arcellx, Inc. will post -1.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ACLX. HC Wainwright reaffirmed a "buy" rating and issued a $115.00 price target on shares of Arcellx in a research note on Monday, June 16th. 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 target for the company. Finally, Scotiabank cut their target price on shares of Arcellx from $133.00 to $93.00 and set a "sector outperform" rating for the company in a research note on Friday, May 9th. Fourteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Arcellx presently has an average rating of "Buy" and an average target price of $111.23.

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).

Want to see what other hedge funds are holding ACLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arcellx, Inc. (NASDAQ:ACLX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.