Nuveen LLC Buys Shares of 111,786 Arcellx, Inc. $ACLX

Key Points

• Nuveen LLC acquired a new stake in Arcellx, purchasing 111,786 shares valued at approximately $7.3 million, representing around 0.20% ownership.
• A recent earnings report indicated that Arcellx reported an EPS of ($0.94), which was better than the consensus estimate of ($1.03), but with revenue significantly below estimates at $7.55 million.
• Arcellx received positive analyst attention, with Cantor Fitzgerald raising its rating to "strong-buy" and multiple analysts setting price targets ranging from $110 to $133.

Nuveen LLC purchased a new position in Arcellx, Inc. (NASDAQ:ACLX - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 111,786 shares of the company's stock, valued at approximately $7,333,000. Nuveen LLC owned about 0.20% of Arcellx as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in Arcellx by 104.1% in the 1st quarter. GAMMA Investing LLC now owns 494 shares of the company's stock worth $32,000 after acquiring an additional 252 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Arcellx during the 4th quarter valued at about $87,000. Amalgamated Bank boosted its stake in shares of Arcellx by 12.0% during the 1st quarter. Amalgamated Bank now owns 1,508 shares of the company's stock valued at $99,000 after purchasing an additional 161 shares in the last quarter. Covestor Ltd boosted its stake in shares of Arcellx by 47.6% during the 1st quarter. Covestor Ltd now owns 2,137 shares of the company's stock valued at $140,000 after purchasing an additional 689 shares in the last quarter. Finally, Xponance Inc. boosted its stake in shares of Arcellx by 6.2% during the 1st quarter. Xponance Inc. now owns 3,278 shares of the company's stock valued at $215,000 after purchasing an additional 190 shares in the last quarter. Institutional investors own 96.03% of the company's stock.

Insider Activity at Arcellx

In other news, Director Kavita Patel sold 1,500 shares of the business's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $67.36, for a total value of $101,040.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 8.35% of the stock is owned by insiders.

Arcellx Stock Down 1.2%

Arcellx stock traded down $0.83 during trading hours on Friday, hitting $69.43. The stock had a trading volume of 166,429 shares, compared to its average volume of 657,537. The stock's 50-day moving average price is $69.15 and its 200-day moving average price is $65.70. Arcellx, Inc. has a 12-month low of $47.86 and a 12-month high of $107.37. The stock has a market capitalization of $3.85 billion, a P/E ratio of -20.30 and a beta of 0.28.

Arcellx (NASDAQ:ACLX - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.94) earnings per share 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 firm had revenue of $7.55 million during the quarter, compared to analyst estimates of $16.76 million. On average, research analysts expect that Arcellx, Inc. will post -1.58 EPS for the current fiscal year.

Analyst Ratings Changes

ACLX has been the topic of a number of research reports. Scotiabank lifted their target price on shares of Arcellx from $93.00 to $133.00 and gave the company a "sector outperform" rating in a research note on Thursday, July 31st. HC Wainwright reaffirmed a "buy" rating and set a $115.00 target price on shares of Arcellx in a research note on Monday, June 16th. Citigroup initiated coverage on shares of Arcellx in a research note on Tuesday, June 17th. They set a "buy" rating and a $110.00 target price on the stock. Finally, Cantor Fitzgerald raised shares of Arcellx to a "strong-buy" rating in a research note 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 company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $114.31.

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).