Parkman Healthcare Partners LLC Acquires 22,898 Shares of Arcellx, Inc. $ACLX

Key Points

• Parkman Healthcare Partners LLC increased its stake in Arcellx, Inc. by 51.5% during the 1st quarter, owning approximately $4.42 million worth of shares.
• The company's quarterly earnings report showed earnings per share of ($0.94), which surpassed analyst expectations, while revenue for the quarter was $7.55 million, below forecasts.
• Analysts have a generally positive outlook on Arcellx, with two strong buy ratings and a consensus target price of $114.31.

Parkman Healthcare Partners LLC grew its position in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 51.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 67,390 shares of the company's stock after acquiring an additional 22,898 shares during the quarter. Parkman Healthcare Partners LLC owned about 0.12% of Arcellx worth $4,421,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Arcellx by 5.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,753 shares of the company's stock valued at $1,893,000 after purchasing an additional 1,390 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in Arcellx by 15.8% during the first quarter. Advisors Asset Management Inc. now owns 8,861 shares of the company's stock worth $581,000 after acquiring an additional 1,210 shares during the period. Allostery Investments LP boosted its position in shares of Arcellx by 25.7% in the 1st quarter. Allostery Investments LP now owns 44,000 shares of the company's stock valued at $2,886,000 after purchasing an additional 9,000 shares during the period. ADAR1 Capital Management LLC boosted its position in shares of Arcellx by 252.4% in the 1st quarter. ADAR1 Capital Management LLC now owns 13,962 shares of the company's stock valued at $916,000 after purchasing an additional 10,000 shares during the period. Finally, Vestal Point Capital LP boosted its position in shares of Arcellx by 402.7% in the 1st quarter. Vestal Point Capital LP now owns 2,387,720 shares of the company's stock valued at $156,634,000 after purchasing an additional 1,912,720 shares during the period. Institutional investors and hedge funds own 96.03% of the company's stock.

Arcellx Stock Performance

Shares of Arcellx stock traded up $0.93 during trading on Tuesday, hitting $72.04. 226,756 shares of the stock traded hands, compared to its average volume of 549,843. The stock has a market cap of $4.00 billion, a P/E ratio of -21.06 and a beta of 0.28. Arcellx, Inc. has a twelve month low of $47.86 and a twelve month high of $107.37. The company has a fifty day moving average price of $70.21 and a two-hundred day moving average price of $66.08.

Arcellx (NASDAQ:ACLX - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.94) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.03) by $0.09. The business had revenue of $7.55 million during the quarter, compared to analyst estimates of $16.76 million. Arcellx had a negative return on equity of 43.04% and a negative net margin of 329.93%. On average, equities research analysts expect that Arcellx, Inc. will post -1.58 EPS for the current fiscal year.

Analysts Set New Price Targets

ACLX has been the subject of a number of recent analyst reports. Scotiabank increased their price target on Arcellx from $93.00 to $133.00 and gave the company a "sector outperform" rating in a research report on Thursday, July 31st. Citigroup assumed coverage on Arcellx in a research report on Tuesday, June 17th. They issued a "buy" rating and a $110.00 price target for the company. HC Wainwright restated a "buy" rating and set a $115.00 price objective on shares of Arcellx in a research report on Monday, June 16th. Finally, Cantor Fitzgerald upgraded Arcellx to a "strong-buy" rating in a research report on Monday, August 4th. Two research analysts have rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the company. According to data from MarketBeat, Arcellx has an average rating of "Buy" and an average 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).