Soleus Capital Management L.P. Has $9.28 Million Stock Position in Arcellx, Inc. (NASDAQ:ACLX)

Soleus Capital Management L.P. increased its holdings in Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 30.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 121,031 shares of the company's stock after acquiring an additional 28,000 shares during the period. Soleus Capital Management L.P. owned about 0.22% of Arcellx worth $9,282,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Headlands Technologies LLC acquired a new position in shares of Arcellx during the 4th quarter valued at about $41,000. KBC Group NV increased its holdings in shares of Arcellx by 37.3% during the 4th quarter. KBC Group NV now owns 1,388 shares of the company's stock valued at $106,000 after acquiring an additional 377 shares during the last quarter. Avanza Fonder AB bought a new stake in Arcellx during the 4th quarter valued at approximately $184,000. Kazazian Asset Management LLC bought a new stake in Arcellx during the 4th quarter valued at approximately $204,000. Finally, Landscape Capital Management L.L.C. bought a new stake in Arcellx during the 4th quarter valued at approximately $214,000. 96.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Scotiabank decreased their target price on Arcellx from $133.00 to $93.00 and set a "sector outperform" rating for the company in a research note 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. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $111.33.

Insider Buying and Selling

In other news, Director Kavita Patel sold 1,500 shares of Arcellx stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $71.64, for a total value of $107,460.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher Heery sold 10,155 shares of Arcellx stock in a transaction on Monday, February 24th. The shares were sold at an average price of $63.79, for a total value of $647,787.45. Following the completion of the sale, the insider now directly owns 37,486 shares of the company's stock, valued at $2,391,231.94. This trade represents a 21.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,955 shares of company stock worth $3,495,548 in the last 90 days. 6.24% of the stock is owned by company insiders.

Arcellx Stock Down 2.0%

Shares of ACLX stock traded down $1.29 during mid-day trading on Friday, reaching $63.92. The stock had a trading volume of 1,081,250 shares, compared to its average volume of 599,907. The firm's 50 day simple moving average is $62.31 and its 200 day simple moving average is $71.04. Arcellx, Inc. has a one year low of $47.86 and a one year high of $107.37. The firm has a market cap of $3.52 billion, a PE ratio of -90.03 and a beta of 0.34.

Arcellx (NASDAQ:ACLX - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($1.13) EPS for the quarter, missing analysts' consensus estimates of ($0.84) by ($0.29). Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. The firm had revenue of $8.13 million during the quarter, compared to the consensus estimate of $19.51 million. Sell-side analysts forecast that Arcellx, Inc. will post -1.58 earnings per share for the current fiscal year.

About Arcellx

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).