Rafferty Asset Management LLC Has $5.45 Million Stake in Arcellx, Inc. (NASDAQ:ACLX)

Rafferty Asset Management LLC raised its stake in Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 27.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 71,037 shares of the company's stock after buying an additional 15,293 shares during the period. Rafferty Asset Management LLC owned approximately 0.13% of Arcellx worth $5,448,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of ACLX. Gilead Sciences Inc. acquired a new position in shares of Arcellx in the 4th quarter worth $515,418,000. FMR LLC increased its stake in Arcellx by 22.8% in the 4th quarter. FMR LLC now owns 7,956,633 shares of the company's stock worth $610,194,000 after purchasing an additional 1,477,360 shares in the last quarter. RA Capital Management L.P. raised its holdings in Arcellx by 50.5% during the 4th quarter. RA Capital Management L.P. now owns 2,787,327 shares of the company's stock worth $213,760,000 after buying an additional 935,848 shares during the period. Vanguard Group Inc. lifted its stake in Arcellx by 35.3% during the fourth quarter. Vanguard Group Inc. now owns 3,330,092 shares of the company's stock valued at $255,385,000 after buying an additional 867,996 shares in the last quarter. Finally, Capital World Investors acquired a new stake in shares of Arcellx during the fourth quarter valued at approximately $19,393,000. Institutional investors own 96.03% of the company's stock.

Insider Buying and Selling

In other Arcellx news, insider Christopher Heery sold 10,155 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $63.79, for a total transaction of $647,787.45. Following the transaction, the insider now directly owns 37,486 shares in the company, valued at $2,391,231.94. This trade represents a 21.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavita Patel sold 1,500 shares of the company's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $71.64, for a total value of $107,460.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,955 shares of company stock worth $3,495,548. Insiders own 6.24% of the company's stock.

Analyst Ratings Changes

Separately, Scotiabank lowered 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 report on Friday, May 9th. Thirteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $111.33.

Arcellx Stock Performance

Shares of NASDAQ:ACLX traded down $1.29 during midday trading on Friday, hitting $63.92. 246,590 shares of the stock were exchanged, compared to its average volume of 733,485. The company has a market capitalization of $3.52 billion, a PE ratio of -90.03 and a beta of 0.34. Arcellx, Inc. has a 52-week low of $47.86 and a 52-week high of $107.37. The business's fifty day simple moving average is $62.42 and its two-hundred day simple moving average is $71.20.

Arcellx (NASDAQ:ACLX - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($1.13) earnings per share 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%. As a group, equities analysts anticipate that Arcellx, Inc. will post -1.58 EPS for the current year.

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).