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

Soleus Capital Management L.P. raised its stake in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 30.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 121,031 shares of the company's stock after purchasing an additional 28,000 shares during the quarter. Soleus Capital Management L.P. owned 0.22% of Arcellx worth $9,282,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of ACLX. Avanza Fonder AB acquired a new stake in Arcellx in the 4th quarter valued at $184,000. KBC Group NV boosted its stake in shares of Arcellx by 37.3% in the 4th quarter. KBC Group NV now owns 1,388 shares of the company's stock valued at $106,000 after purchasing an additional 377 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of Arcellx by 10.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,466 shares of the company's stock worth $879,000 after purchasing an additional 1,127 shares during the last quarter. Legato Capital Management LLC grew its stake in Arcellx by 36.1% during the fourth quarter. Legato Capital Management LLC now owns 5,999 shares of the company's stock worth $460,000 after buying an additional 1,591 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in Arcellx by 1.9% during the 4th quarter. Rhumbline Advisers now owns 59,903 shares of the company's stock valued at $4,594,000 after purchasing an additional 1,125 shares in the last quarter. 96.03% of the stock is currently owned by institutional investors.

Insider Activity at Arcellx

In other Arcellx news, insider Rami Elghandour sold 38,300 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $62.02, for a total value of $2,375,366.00. Following the completion of the sale, the insider now directly owns 149,186 shares in the company, valued at $9,252,515.72. This represents a 20.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher Heery sold 10,155 shares of Arcellx stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $63.79, for a total value of $647,787.45. Following the transaction, the insider now owns 37,486 shares in the company, valued at $2,391,231.94. This trade represents a 21.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,955 shares of company stock worth $3,495,548 in the last ninety days. Company insiders own 6.24% of the company's stock.

Arcellx Stock Performance

Arcellx stock traded down $0.33 during trading hours on Thursday, reaching $65.21. 1,622,545 shares of the company's stock traded hands, compared to its average volume of 598,980. The firm's 50 day moving average is $62.42 and its 200-day moving average is $71.20. Arcellx, Inc. has a fifty-two week low of $47.86 and a fifty-two week high of $107.37. The firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of -91.84 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). The company 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%. Analysts predict that Arcellx, Inc. will post -1.58 EPS for the current year.

Analysts Set New Price Targets

Separately, Scotiabank reduced their price objective on Arcellx from $133.00 to $93.00 and set a "sector outperform" rating on the stock in a research note on Friday, May 9th. Thirteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $111.33.

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).