Pictet Asset Management Holding SA Decreases Stake in Arcellx, Inc. $ACLX

Key Points

• Pictet Asset Management trimmed its stake in Arcellx by 18.6% in Q4 to 342,612 shares worth about $22.34 million, indicating institutional selling pressure.
• Insider Rami Elghandour sold 89,916 shares at an average $113.92 (≈$10.24M), cutting his ownership by 24.57%; insiders now hold 8.35% of the stock.
• Analysts have moved toward caution with a consensus "Hold" and $111.87 target, while Arcellx's latest quarter met EPS estimates at -$1.01 but posted a large revenue miss ($1.65M vs $13.4M); the shares trade near $115 with a market cap of about $6.7B.

Pictet Asset Management Holding SA lessened its holdings in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 18.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 342,612 shares of the company's stock after selling 78,193 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.59% of Arcellx worth $22,338,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. MAI Capital Management acquired a new position in Arcellx during the third quarter worth about $26,000. CWM LLC grew its stake in Arcellx by 267.0% during the 3rd quarter. CWM LLC now owns 345 shares of the company's stock valued at $28,000 after acquiring an additional 251 shares in the last quarter. State of Wyoming acquired a new stake in Arcellx in the 2nd quarter valued at about $28,000. Ramirez Asset Management Inc. purchased a new position in Arcellx in the 3rd quarter worth approximately $41,000. Finally, Abich Financial Wealth Management LLC purchased a new position in Arcellx in the 3rd quarter worth approximately $62,000. Hedge funds and other institutional investors own 96.03% of the company's stock.

Insiders Place Their Bets

In other Arcellx news, insider Rami Elghandour sold 89,916 shares of Arcellx stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $113.92, for a total transaction of $10,243,230.72. Following the completion of the sale, the insider directly owned 276,051 shares in the company, valued at $31,447,729.92. This trade represents a 24.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.35% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ACLX. Stifel Nicolaus restated a "hold" rating and issued a $115.00 price target (down from $127.00) on shares of Arcellx in a research report on Monday, February 23rd. Rothschild & Co Redburn downgraded Arcellx from a "buy" rating to a "neutral" rating and set a $82.00 price objective on the stock. in a research report on Thursday, February 12th. Guggenheim lowered Arcellx from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $120.00 to $115.00 in a research note on Wednesday, February 25th. TD Cowen downgraded Arcellx from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 2nd. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Arcellx in a report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, sixteen have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Arcellx has a consensus rating of "Hold" and a consensus target price of $111.87.

Arcellx Price Performance

Shares of NASDAQ ACLX opened at $115.07 on Friday. The company has a 50 day simple moving average of $113.60 and a 200-day simple moving average of $88.04. The company has a market capitalization of $6.73 billion, a P/E ratio of -28.27 and a beta of 0.25. Arcellx, Inc. has a 1 year low of $47.86 and a 1 year high of $115.13.

Arcellx (NASDAQ:ACLX - Get Free Report) last released its quarterly earnings data on Thursday, February 26th. The company reported ($1.01) EPS for the quarter, meeting analysts' consensus estimates of ($1.01). The firm had revenue of $1.65 million for the quarter, compared to analysts' expectations of $13.40 million. Arcellx had a negative return on equity of 55.42% and a negative net margin of 1,027.26%. As a group, research analysts expect that Arcellx, Inc. will post -2.91 EPS for the current year.

Arcellx Profile

Arcellx, Inc NASDAQ: ACLX is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of next-generation cell therapies for oncology and autoimmune diseases. The company's proprietary ARC-SparX™ platform is designed to enable precise control over cell-surface receptor activation and to improve the safety, efficacy and durability of adoptive cell therapies. Leveraging this technology, Arcellx engineers immune cells with modular antigen-binding domains that can be exchanged to target a variety of disease-associated markers.

The company's pipeline comprises multiple wholly owned programs in hematologic malignancies and solid tumors at various stages of preclinical and clinical development.

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