Martingale Asset Management L P Has $748,000 Holdings in Arcellx, Inc. $ACLX

Key Points

• Martingale Asset Management L P sold 8,691 shares of Arcellx, Inc. ($ACLX), reducing its stake by 43.2%, leaving it with 11,405 shares valued at approximately $748,000.
• Several other institutional investors have increased their positions in Arcellx, with First Trust Advisors LP raising its stake by 274.3%, now owning 134,197 shares valued at $10.29 million.
• Arcellx recently reported a loss of ($0.94) per share, beating expectations, but its revenue of $7.55 million fell short of analysts’ forecasts of $16.76 million.

Martingale Asset Management L P reduced its position in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 43.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,405 shares of the company's stock after selling 8,691 shares during the quarter. Martingale Asset Management L P's holdings in Arcellx were worth $748,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. grew its position in shares of Arcellx by 135.9% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,665,138 shares of the company's stock worth $109,234,000 after buying an additional 959,216 shares during the period. EntryPoint Capital LLC acquired a new stake in Arcellx during the 1st quarter worth $248,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Arcellx during the 1st quarter valued at $50,000. American Century Companies Inc. lifted its stake in shares of Arcellx by 84.5% in the 1st quarter. American Century Companies Inc. now owns 54,321 shares of the company's stock valued at $3,563,000 after purchasing an additional 24,875 shares during the period. Finally, Sector Gamma AS bought a new position in shares of Arcellx in the 1st quarter worth $2,296,000. 96.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Arcellx

In related news, Director Kavita Patel sold 1,500 shares of the firm'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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 8.35% of the stock is currently owned by corporate insiders.

Arcellx Price Performance

NASDAQ ACLX traded down $0.75 on Friday, hitting $69.51. 183,857 shares of the stock were exchanged, compared to its average volume of 657,729. The company has a market capitalization of $3.85 billion, a PE ratio of -20.37 and a beta of 0.28. The business's fifty day moving average is $69.15 and its 200 day moving average is $65.70. Arcellx, Inc. has a 52 week low of $47.86 and a 52 week high of $107.37.

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

Analyst Ratings Changes

A number of brokerages have issued reports on ACLX. HC Wainwright restated a "buy" rating and set a $115.00 target price on shares of Arcellx in a report on Monday, June 16th. Cantor Fitzgerald raised shares of Arcellx to a "strong-buy" rating in a research note on Monday, August 4th. Scotiabank upped their target price on shares of Arcellx from $93.00 to $133.00 and gave the stock a "sector outperform" rating in a research note on Thursday, July 31st. Finally, Citigroup assumed coverage on Arcellx in a research note on Tuesday, June 17th. They issued a "buy" rating and a $110.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price 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).