Arcellx, Inc. (NASDAQ:ACLX) Shares Sold by Squarepoint Ops LLC

Squarepoint Ops LLC lessened its position in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 46.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,330 shares of the company's stock after selling 4,670 shares during the quarter. Squarepoint Ops LLC's holdings in Arcellx were worth $409,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. KBC Group NV grew 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 during the last quarter. Legato Capital Management LLC boosted its stake in shares of Arcellx by 36.1% in the fourth quarter. Legato Capital Management LLC now owns 5,999 shares of the company's stock valued at $460,000 after buying an additional 1,591 shares in the last quarter. Rhumbline Advisers boosted its position in Arcellx by 1.9% during the fourth quarter. Rhumbline Advisers now owns 59,903 shares of the company's stock worth $4,594,000 after purchasing an additional 1,125 shares in the last quarter. Congress Asset Management Co. boosted its position in Arcellx by 11.4% during the fourth quarter. Congress Asset Management Co. now owns 25,321 shares of the company's stock worth $1,942,000 after purchasing an additional 2,586 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D purchased a new stake in Arcellx during the fourth quarter worth $1,838,000. Institutional investors and hedge funds own 96.03% of the company's stock.

Analysts Set New Price Targets

Separately, Scotiabank cut their price target on Arcellx from $133.00 to $93.00 and set a "sector outperform" rating for the company in a report on Friday, May 9th. Thirteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Arcellx presently has a consensus rating of "Buy" and an average price target of $111.33.

Arcellx Stock Performance

Arcellx stock traded up $1.85 during trading on Friday, hitting $68.10. The company's stock had a trading volume of 595,314 shares, compared to its average volume of 605,757. The stock has a market capitalization of $3.75 billion, a price-to-earnings ratio of -95.91 and a beta of 0.28. The stock's fifty day moving average is $61.34 and its 200 day moving average is $68.84. Arcellx, Inc. has a 1-year low of $47.86 and a 1-year high of $107.37.

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

Insider Activity

In other news, Director Kavita Patel sold 1,500 shares of Arcellx stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $57.50, for a total value of $86,250.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders have sold 6,000 shares of company stock valued at $377,655 in the last three months. Corporate insiders own 8.35% of the company's stock.

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).