GAMMA Investing LLC Has $21.26 Million Stock Holdings in Arcellx, Inc. (NASDAQ:ACLX)

GAMMA Investing LLC increased its holdings in Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 13,290.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,406 shares of the company's stock after purchasing an additional 32,164 shares during the period. GAMMA Investing LLC owned approximately 0.06% of Arcellx worth $21,260,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Headlands Technologies LLC acquired a new position in shares of Arcellx in the 4th quarter worth approximately $41,000. GF Fund Management CO. LTD. acquired a new position in Arcellx during the fourth quarter worth $87,000. KBC Group NV raised its stake in Arcellx by 37.3% during the fourth 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. Kazazian Asset Management LLC bought a new position in shares of Arcellx during the fourth quarter valued at $204,000. Finally, Landscape Capital Management L.L.C. acquired a new stake in shares of Arcellx in the 4th quarter valued at $214,000. Institutional investors own 96.03% of the company's stock.

Insider Activity

In other Arcellx news, Director Kavita Patel sold 1,500 shares of the business's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $71.64, for a total transaction of $107,460.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 6,000 shares of company stock valued at $377,655 over the last 90 days. 8.35% of the stock is owned by company insiders.

Arcellx Price Performance

Shares of ACLX stock traded down $1.24 during trading hours on Monday, reaching $66.86. 470,718 shares of the company were exchanged, compared to its average volume of 606,732. Arcellx, Inc. has a fifty-two week low of $47.86 and a fifty-two week high of $107.37. The stock's fifty day moving average is $61.34 and its two-hundred day moving average is $68.58. The company has a market cap of $3.68 billion, a price-to-earnings ratio of -94.17 and a beta of 0.28.

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

Wall Street Analyst Weigh In

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

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).