Sector Gamma AS Makes New $2.30 Million Investment in Arcellx, Inc. $ACLX

Key Points

• Sector Gamma AS acquired 35,000 shares of Arcellx, Inc. for approximately $2.3 million, representing a 0.06% ownership stake as of the latest 13F filing.
• Multiple institutional investors, including Dimensional Fund Advisors LP and GAMMA Investing LLC, significantly increased their stakes in Arcellx during recent quarters, highlighting strong institutional interest.
• Analysts have a consensus "Buy" rating for Arcellx, with a price target ranging from $110 to $133, signaling optimistic market expectations for the company.

Sector Gamma AS acquired a new position in Arcellx, Inc. (NASDAQ:ACLX - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 35,000 shares of the company's stock, valued at approximately $2,296,000. Sector Gamma AS owned approximately 0.06% of Arcellx as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Gilead Sciences Inc. bought a new stake in Arcellx during the fourth quarter worth $515,418,000. Vanguard Group Inc. raised its holdings in shares of Arcellx by 19.7% in the 1st quarter. Vanguard Group Inc. now owns 3,985,156 shares of the company's stock worth $261,426,000 after purchasing an additional 655,064 shares during the period. RA Capital Management L.P. lifted its stake in Arcellx by 50.5% in the fourth quarter. RA Capital Management L.P. now owns 2,787,327 shares of the company's stock valued at $213,760,000 after purchasing an additional 935,848 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Arcellx by 11.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,121,322 shares of the company's stock valued at $162,685,000 after buying an additional 220,711 shares during the last quarter. Finally, Lord Abbett & CO. LLC grew its stake in shares of Arcellx by 9.3% during the 4th quarter. Lord Abbett & CO. LLC now owns 974,832 shares of the company's stock worth $74,760,000 after acquiring an additional 82,984 shares during the period. Institutional investors own 96.03% of the company's stock.

Insider Buying and Selling at Arcellx

In other news, Director Kavita Patel sold 1,500 shares of Arcellx stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $67.36, for a total transaction of $101,040.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.35% of the stock is currently owned by company insiders.

Arcellx Stock Down 3.1%

ACLX traded down $2.26 on Monday, reaching $71.82. The stock had a trading volume of 674,665 shares, compared to its average volume of 537,930. The business's 50-day moving average price is $68.25 and its two-hundred day moving average price is $65.48. Arcellx, Inc. has a 12-month low of $47.86 and a 12-month high of $107.37.

Arcellx (NASDAQ:ACLX - Get Free Report) last posted its quarterly earnings data 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 return on equity of 43.04% and a negative net margin of 329.93%. The business had revenue of $7.55 million for the quarter, compared to analyst estimates of $16.76 million. On average, research analysts expect that Arcellx, Inc. will post -1.58 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Citigroup began coverage on Arcellx in a research note on Tuesday, June 17th. They set a "buy" rating and a $110.00 price objective on the stock. Cantor Fitzgerald raised Arcellx to a "strong-buy" rating in a research note on Monday, August 4th. HC Wainwright reissued a "buy" rating and set a $115.00 price objective on shares of Arcellx in a report on Monday, June 16th. Finally, Scotiabank upped their price target on shares of Arcellx from $93.00 to $133.00 and gave the company a "sector outperform" rating in a research report on Thursday, July 31st. Thirteen investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently 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).