Arcellx, Inc. $ACLX Shares Sold by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Arcellx, Inc. by 1.8% in Q1, now owning approximately 336,949 shares valued at $22.1 million.
• Other hedge funds like Amalgamated Bank, GAMMA Investing LLC, and Dimensional Fund Advisors LP have increased their positions in Arcellx during the same quarter.
• Arcellx reported a quarterly loss of ($0.94) per share, beating estimates by $0.09, but revenue was lower than expected at $7.55 million compared to the consensus estimate of $16.76 million.

Charles Schwab Investment Management Inc. reduced its position in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 1.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 336,949 shares of the company's stock after selling 6,136 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.61% of Arcellx worth $22,104,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC boosted its position in shares of Arcellx by 104.1% during the 1st quarter. GAMMA Investing LLC now owns 494 shares of the company's stock valued at $32,000 after acquiring an additional 252 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Arcellx during the 4th quarter valued at approximately $87,000. Amalgamated Bank boosted its position in shares of Arcellx by 12.0% during the 1st quarter. Amalgamated Bank now owns 1,508 shares of the company's stock valued at $99,000 after acquiring an additional 161 shares during the last quarter. Xponance Inc. boosted its position in shares of Arcellx by 6.2% during the 1st quarter. Xponance Inc. now owns 3,278 shares of the company's stock valued at $215,000 after acquiring an additional 190 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV bought a new position in shares of Arcellx during the 4th quarter valued at approximately $278,000. 96.03% of the stock is currently owned by institutional investors.

Insider Activity at Arcellx

In other 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 document filed with the SEC, which is available at the SEC website. 8.35% of the stock is currently owned by company insiders.

Arcellx Trading Up 1.1%

Shares of ACLX stock traded up $0.76 during trading hours on Tuesday, reaching $69.25. 62,212 shares of the company's stock were exchanged, compared to its average volume of 651,466. Arcellx, Inc. has a 1 year low of $47.86 and a 1 year high of $107.37. The stock has a market cap of $3.84 billion, a PE ratio of -20.25 and a beta of 0.28. The stock's fifty day moving average price is $68.76 and its two-hundred day moving average price is $65.62.

Arcellx (NASDAQ:ACLX - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.94) EPS for the quarter, topping the consensus estimate of ($1.03) by $0.09. The firm had revenue of $7.55 million during the quarter, compared to analysts' expectations of $16.76 million. Arcellx had a negative return on equity of 43.04% and a negative net margin of 329.93%. On average, equities analysts expect that Arcellx, Inc. will post -1.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ACLX shares. Citigroup started coverage on Arcellx in a research report on Tuesday, June 17th. They issued a "buy" rating and a $110.00 price target for the company. Scotiabank boosted their target price on shares of Arcellx from $93.00 to $133.00 and gave the company a "sector outperform" rating in a research note on Thursday, July 31st. Cantor Fitzgerald upgraded Arcellx to a "strong-buy" rating in a report on Monday, August 4th. Finally, HC Wainwright restated a "buy" rating and set a $115.00 price objective on shares of Arcellx in a report on Monday, June 16th. Two investment analysts have rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $114.31.

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).