BNP Paribas Financial Markets Makes New Investment in Arcellx, Inc. (NASDAQ:ACLX)

BNP Paribas Financial Markets acquired a new stake in Arcellx, Inc. (NASDAQ:ACLX - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 19,965 shares of the company's stock, valued at approximately $1,531,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Avanza Fonder AB acquired a new stake in Arcellx during the 4th quarter worth $184,000. KBC Group NV raised its stake in Arcellx by 37.3% during the 4th quarter. KBC Group NV now owns 1,388 shares of the company's stock worth $106,000 after acquiring an additional 377 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in Arcellx by 10.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,466 shares of the company's stock worth $879,000 after acquiring an additional 1,127 shares in the last quarter. Legato Capital Management LLC grew its position in Arcellx by 36.1% during the 4th quarter. Legato Capital Management LLC now owns 5,999 shares of the company's stock worth $460,000 after purchasing an additional 1,591 shares during the last quarter. Finally, Rhumbline Advisers grew its position in Arcellx by 1.9% during the 4th quarter. Rhumbline Advisers now owns 59,903 shares of the company's stock worth $4,594,000 after purchasing an additional 1,125 shares during the last quarter. 96.03% of the stock is currently owned by institutional investors and hedge funds.

Arcellx Stock Down 2.0%

Shares of NASDAQ ACLX traded down $1.29 during midday trading on Friday, hitting $63.92. The company had a trading volume of 1,081,250 shares, compared to its average volume of 600,556. Arcellx, Inc. has a twelve month low of $47.86 and a twelve month high of $107.37. The business has a 50-day simple moving average of $62.31 and a two-hundred day simple moving average of $70.89. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of -90.03 and a beta of 0.34.

Arcellx (NASDAQ:ACLX - Get Free Report) last announced its quarterly earnings data 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 net margin of 25.94% and a negative return on equity of 8.28%. The company had revenue of $8.13 million during the quarter, compared to analyst estimates of $19.51 million. On average, equities analysts forecast that Arcellx, Inc. will post -1.58 EPS for the current year.

Analyst Upgrades and Downgrades

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

Insider Activity at Arcellx

In other news, insider Christopher Heery sold 10,155 shares of the business's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $63.79, for a total value of $647,787.45. Following the completion of the transaction, the insider now owns 37,486 shares of the company's stock, valued at $2,391,231.94. The trade was a 21.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kavita Patel sold 1,500 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $63.16, for a total transaction of $94,740.00. The disclosure for this sale can be found here. Insiders sold 55,955 shares of company stock worth $3,495,548 over the last 90 days. Company insiders own 6.24% of the company's stock.

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).