Millennium Management LLC Has $1.72 Million Holdings in Arcellx, Inc. (NASDAQ:ACLX)

Millennium Management LLC increased its holdings in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 123.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,370 shares of the company's stock after acquiring an additional 12,370 shares during the quarter. Millennium Management LLC's holdings in Arcellx were worth $1,716,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Xponance Inc. increased its holdings in shares of Arcellx by 8.6% during the 4th quarter. Xponance Inc. now owns 3,088 shares of the company's stock worth $237,000 after acquiring an additional 244 shares during the last quarter. KBC Group NV boosted its stake in Arcellx by 37.3% in the 4th quarter. KBC Group NV now owns 1,388 shares of the company's stock valued at $106,000 after purchasing an additional 377 shares during the period. Swiss National Bank grew its holdings in Arcellx by 0.8% in the 4th quarter. Swiss National Bank now owns 63,400 shares of the company's stock valued at $4,862,000 after buying an additional 500 shares in the last quarter. Headlands Technologies LLC acquired a new position in Arcellx in the 4th quarter valued at $41,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Arcellx by 9.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,836 shares of the company's stock valued at $754,000 after buying an additional 858 shares in the last quarter. 96.03% of the stock is owned by institutional investors and hedge funds.

Arcellx Price Performance

Shares of ACLX stock traded up $0.34 on Wednesday, hitting $65.48. 480,079 shares of the company's stock were exchanged, compared to its average volume of 603,453. Arcellx, Inc. has a 12 month low of $47.86 and a 12 month high of $107.37. The stock has a market cap of $3.61 billion, a P/E ratio of -92.22 and a beta of 0.34. The company has a 50 day moving average of $61.23 and a 200 day moving average of $69.15.

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

Analysts Set New Price Targets

Separately, Scotiabank decreased their price objective on Arcellx from $133.00 to $93.00 and set a "sector outperform" rating on the stock in a report on Friday, May 9th. Thirteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Arcellx currently has an average rating of "Buy" and a consensus target price of $111.33.

Insider Buying and Selling

In other Arcellx news, Director Kavita Patel sold 1,500 shares of the stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $57.50, for a total value of $86,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 6,000 shares of company stock worth $377,655 in the last ninety days. 8.35% of the stock is owned by insiders.

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).