Arcellx, Inc. (NASDAQ:ACLX) Shares Sold by Two Sigma Investments LP

Two Sigma Investments LP trimmed its holdings in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 72.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,900 shares of the company's stock after selling 18,228 shares during the period. Two Sigma Investments LP's holdings in Arcellx were worth $529,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Arcellx by 9.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,836 shares of the company's stock worth $754,000 after purchasing an additional 858 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in 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 acquiring an additional 186,013 shares during the period. Millennium Management LLC raised its stake in 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 acquiring an additional 12,370 shares during the period. Gilead Sciences Inc. acquired a new stake in Arcellx during the fourth quarter worth about $515,418,000. Finally, Invesco Ltd. raised its stake in Arcellx by 15.7% during the fourth quarter. Invesco Ltd. now owns 26,550 shares of the company's stock worth $2,036,000 after acquiring an additional 3,610 shares during the period. 96.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Scotiabank dropped their price target on shares of Arcellx from $133.00 to $93.00 and set a "sector outperform" rating on the stock in a research note on Friday, May 9th. Thirteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $111.33.

Insider Activity at Arcellx

In related news, Director Kavita Patel sold 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $57.50, for a total transaction of $86,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 6,000 shares of company stock worth $377,655 over the last quarter. 8.35% of the stock is currently owned by company insiders.

Arcellx Price Performance

NASDAQ ACLX opened at $68.10 on Monday. Arcellx, Inc. has a 12 month low of $47.86 and a 12 month high of $107.37. The firm has a market capitalization of $3.75 billion, a PE ratio of -95.91 and a beta of 0.28. The company's 50 day simple moving average is $61.34 and its 200 day simple moving average is $68.58.

Arcellx (NASDAQ:ACLX - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($1.13) EPS for the quarter, missing analysts' consensus estimates of ($0.84) by ($0.29). Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. The company had revenue of $8.13 million for the quarter, compared to analyst estimates of $19.51 million. Sell-side analysts anticipate that Arcellx, Inc. will post -1.58 earnings per share for the current fiscal year.

Arcellx Company 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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