Nuveen Asset Management LLC Cuts Stock Position in Arcellx, Inc. (NASDAQ:ACLX)

Nuveen Asset Management LLC lessened its position in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 7.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 111,786 shares of the company's stock after selling 9,110 shares during the quarter. Nuveen Asset Management LLC owned 0.21% of Arcellx worth $8,573,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ACLX. Nicholas Investment Partners LP lifted its position in Arcellx by 31.4% during the fourth quarter. Nicholas Investment Partners LP now owns 48,086 shares of the company's stock valued at $3,688,000 after purchasing an additional 11,500 shares during the period. Millennium Management LLC grew its position in Arcellx by 123.7% during the 4th quarter. Millennium Management LLC now owns 22,370 shares of the company's stock worth $1,716,000 after purchasing an additional 12,370 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Arcellx by 6.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,363 shares of the company's stock valued at $2,103,000 after buying an additional 1,589 shares during the last quarter. Brevan Howard Capital Management LP acquired a new position in shares of Arcellx in the 4th quarter valued at about $466,000. Finally, Bamco Inc. NY grew its holdings in Arcellx by 1.6% during the fourth quarter. Bamco Inc. NY now owns 348,333 shares of the company's stock worth $26,714,000 after acquiring an additional 5,501 shares during the period. 96.03% of the stock is owned by institutional investors and hedge funds.

Arcellx Stock Performance

Shares of ACLX stock traded down $0.11 during trading hours on Friday, reaching $63.57. The company had a trading volume of 803,679 shares, compared to its average volume of 603,840. Arcellx, Inc. has a 12-month low of $47.86 and a 12-month high of $107.37. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of -89.53 and a beta of 0.34. The stock has a fifty day moving average of $61.46 and a 200-day moving average of $69.75.

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

Analyst Upgrades and Downgrades

Separately, Scotiabank dropped their price objective on shares of Arcellx from $133.00 to $93.00 and set a "sector outperform" rating on the stock in a research note on Friday, May 9th. Thirteen investment 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.com, the company presently has a consensus rating of "Buy" and an average target price of $111.33.

Insiders Place Their Bets

In other Arcellx news, Director Kavita Patel sold 1,500 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $58.43, for a total transaction of $87,645.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 6,000 shares of company stock valued at $377,655 over the last quarter. 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).