Rhumbline Advisers Raises Stock Holdings in Arcellx, Inc. (NASDAQ:ACLX)

Rhumbline Advisers raised its position in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 6.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,751 shares of the company's stock after acquiring an additional 3,848 shares during the quarter. Rhumbline Advisers owned approximately 0.12% of Arcellx worth $4,182,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Headlands Technologies LLC purchased a new position in shares of Arcellx in the fourth quarter valued at approximately $41,000. GF Fund Management CO. LTD. purchased a new position in shares of Arcellx in the fourth quarter valued at approximately $87,000. Kazazian Asset Management LLC purchased a new position in shares of Arcellx in the fourth quarter valued at approximately $204,000. Landscape Capital Management L.L.C. purchased a new position in shares of Arcellx in the fourth quarter valued at approximately $214,000. Finally, Xponance Inc. lifted its position in shares of Arcellx by 8.6% in the fourth quarter. Xponance Inc. now owns 3,088 shares of the company's stock valued at $237,000 after acquiring an additional 244 shares in the last quarter. Hedge funds and other institutional investors own 96.03% of the company's stock.

Arcellx Stock Performance

NASDAQ:ACLX opened at $66.00 on Friday. Arcellx, Inc. has a one year low of $47.86 and a one year high of $107.37. The stock has a market cap of $3.64 billion, a PE ratio of -92.96 and a beta of 0.28. The stock has a 50 day moving average price of $62.01 and a 200 day moving average price of $68.06.

Arcellx (NASDAQ:ACLX - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.84) by ($0.29). The business had revenue of $8.13 million for the quarter, compared to analyst estimates 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, analysts predict that Arcellx, Inc. will post -1.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Scotiabank decreased their target price on 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 investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $111.33.

Insiders Place Their Bets

In other Arcellx news, Director Kavita Patel sold 1,500 shares of the firm's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $67.36, for a total transaction of $101,040.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 7,500 shares of company stock valued at $478,695 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).

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