Dark Forest Capital Management LP Has $4.66 Million Position in Arcellx, Inc. $ACLX

Key Points

• Dark Forest Capital Management LP significantly increased its stake in Arcellx, Inc. by 342.3% during the 1st quarter, owning about 71,070 shares valued at $4.66 million.
• Arcellx has garnered positive ratings from analysts, including a strong-buy rating from Cantor Fitzgerald and a price target increase from Scotiabank, now at $133.00.
• The company reported a quarterly EPS of ($0.94), surpassing estimates, but its revenue fell short at $7.55 million compared to the expected $16.76 million.

Dark Forest Capital Management LP lifted its position in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 342.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,070 shares of the company's stock after buying an additional 55,003 shares during the period. Dark Forest Capital Management LP owned about 0.13% of Arcellx worth $4,662,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in Arcellx by 104.1% during the first quarter. GAMMA Investing LLC now owns 494 shares of the company's stock valued at $32,000 after purchasing an additional 252 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Arcellx during the 1st quarter worth approximately $50,000. GF Fund Management CO. LTD. bought a new position in Arcellx during the 4th quarter worth $87,000. Amalgamated Bank increased its stake in Arcellx by 12.0% during 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. Finally, Covestor Ltd increased its stake in Arcellx by 47.6% during the 1st quarter. Covestor Ltd now owns 2,137 shares of the company's stock worth $140,000 after acquiring an additional 689 shares during the period. 96.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ACLX has been the topic of several recent analyst reports. Cantor Fitzgerald upgraded Arcellx to a "strong-buy" rating in a research note on Monday, August 4th. Scotiabank lifted their price target on Arcellx from $93.00 to $133.00 and gave the company a "sector outperform" rating in a research note on Thursday, July 31st. HC Wainwright reissued a "buy" rating and set a $115.00 price objective on shares of Arcellx in a report on Monday, June 16th. Finally, Citigroup began coverage on Arcellx in a report on Tuesday, June 17th. They set a "buy" rating and a $110.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $114.31.

Arcellx Trading Down 1.2%

Shares of ACLX opened at $69.39 on Tuesday. The company has a market capitalization of $3.85 billion, a PE ratio of -20.29 and a beta of 0.28. Arcellx, Inc. has a 12 month low of $47.86 and a 12 month high of $107.37. The stock's 50-day moving average price is $69.40 and its two-hundred day moving average price is $65.80.

Arcellx (NASDAQ:ACLX - Get Free Report) last announced its 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 for the quarter, compared to the consensus estimate of $16.76 million. Arcellx had a negative return on equity of 43.04% and a negative net margin of 329.93%. Equities research analysts predict that Arcellx, Inc. will post -1.58 EPS for the current fiscal year.

Insider Activity

In other news, Director Kavita Patel sold 1,500 shares of the business's stock in a transaction dated 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 filing with the SEC, which can be accessed through this link. 8.35% of the stock is owned by corporate insiders.

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).

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