Wexford Capital LP Decreases Holdings in Arcellx, Inc. (NASDAQ:ACLX)

Wexford Capital LP lowered its stake in Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 46.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,994 shares of the company's stock after selling 15,470 shares during the period. Wexford Capital LP's holdings in Arcellx were worth $1,380,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Arcellx by 9.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,836 shares of the company's stock valued at $754,000 after purchasing an additional 858 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Arcellx by 156.2% during the 4th 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. Gilead Sciences Inc. acquired a new stake in Arcellx during the 4th quarter worth $515,418,000. Invesco Ltd. grew its holdings in Arcellx by 15.7% during the 4th 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. Finally, Swiss National Bank grew its holdings in Arcellx by 0.8% during the 4th quarter. Swiss National Bank now owns 63,400 shares of the company's stock worth $4,862,000 after acquiring an additional 500 shares during the period. Institutional investors and hedge funds own 96.03% of the company's stock.

Insider Buying and Selling at Arcellx

In related news, insider Christopher Heery sold 10,155 shares of the firm's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $63.79, for a total transaction of $647,787.45. Following the transaction, the insider now directly owns 37,486 shares of the company's stock, valued at $2,391,231.94. This trade represents a 21.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Rami Elghandour sold 38,300 shares of the firm's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $62.02, for a total transaction of $2,375,366.00. Following the transaction, the insider now directly owns 149,186 shares in the company, valued at $9,252,515.72. The trade was a 20.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,955 shares of company stock valued at $3,495,548. Corporate insiders own 6.24% of the company's stock.

Arcellx Trading Down 2.0%

NASDAQ ACLX traded down $1.29 on Friday, hitting $63.92. 1,081,250 shares of the company were exchanged, compared to its average volume of 599,907. Arcellx, Inc. has a 12 month low of $47.86 and a 12 month high of $107.37. The company has a market cap of $3.52 billion, a PE ratio of -90.03 and a beta of 0.34. The stock has a fifty day moving average of $62.31 and a 200-day moving average of $71.04.

Arcellx (NASDAQ:ACLX - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($1.13) earnings per share 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 business had revenue of $8.13 million during the quarter, compared to the consensus estimate of $19.51 million. On average, analysts expect that Arcellx, Inc. will post -1.58 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Scotiabank reduced 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 report on Friday, May 9th. Thirteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $111.33.

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).