Northern Trust Corp Has $26.49 Million Position in Arcellx, Inc. $ACLX

Key Points

• Northern Trust Corp reduced its holdings in Arcellx, Inc. by 1.7%, now owning about 403,841 shares worth approximately $26.49 million.
• Arcellx reported a loss of $0.94 earnings per share for the last quarter, which was better than the consensus estimate of a loss of $1.03.
• Analysts have issued a positive outlook for Arcellx, with a consensus target price of $114.31 and several upgrades to buy ratings.

Northern Trust Corp cut its position in Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 1.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 403,841 shares of the company's stock after selling 6,892 shares during the quarter. Northern Trust Corp owned about 0.73% of Arcellx worth $26,492,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. boosted its stake in 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. Sector Gamma AS bought a new stake in Arcellx in the 1st quarter valued at $2,296,000. E Fund Management Co. Ltd. boosted its stake in Arcellx by 8.3% in the 1st quarter. E Fund Management Co. Ltd. now owns 5,468 shares of the company's stock valued at $359,000 after purchasing an additional 419 shares during the period. Knott David M Jr bought a new stake in Arcellx in the 1st quarter valued at $984,000. Finally, Nuveen LLC bought a new stake in Arcellx in the 1st quarter valued at $7,333,000. 96.03% of the stock is currently owned by institutional investors.

Insider Transactions at Arcellx

In other Arcellx news, Director Kavita Patel sold 1,500 shares of the company'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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.35% of the stock is currently owned by insiders.

Arcellx Stock Performance

Shares of Arcellx stock traded up $0.41 during trading on Thursday, reaching $71.63. 113,421 shares of the company's stock were exchanged, compared to its average volume of 653,795. Arcellx, Inc. has a 1-year low of $47.86 and a 1-year high of $107.37. The company has a market cap of $3.97 billion, a P/E ratio of -20.95 and a beta of 0.28. The firm's 50-day moving average price is $69.67 and its 200 day moving average price is $65.86.

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

Analyst Ratings Changes

ACLX has been the subject of several analyst reports. HC Wainwright reaffirmed a "buy" rating and issued a $115.00 price objective on shares of Arcellx in a report on Monday, June 16th. Scotiabank lifted their price objective on Arcellx from $93.00 to $133.00 and gave the company a "sector outperform" rating in a report on Thursday, July 31st. Citigroup initiated coverage on Arcellx in a report on Tuesday, June 17th. They issued a "buy" rating and a $110.00 price objective for the company. Finally, Cantor Fitzgerald raised Arcellx to a "strong-buy" rating in a report on Monday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $114.31.

Arcellx 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).