Strs Ohio Acquires New Stake in Arcellx, Inc. $ACLX

Key Points

• Strs Ohio has acquired a new stake in Arcellx, Inc., purchasing 14,300 shares valued at approximately $938,000 in Q1.
• Arcellx reported an earnings per share of ($0.94) for the last quarter, surpassing analysts' expectations of ($1.03), although revenue fell short of projections at $7.55 million.
• Numerous investment analysts have shown confidence in Arcellx, with a consensus rating of "Buy" and an average price target of $114.31.

Strs Ohio bought a new stake in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 14,300 shares of the company's stock, valued at approximately $938,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vestal Point Capital LP increased its stake in shares of Arcellx by 402.7% in the 1st quarter. Vestal Point Capital LP now owns 2,387,720 shares of the company's stock worth $156,634,000 after purchasing an additional 1,912,720 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in Arcellx by 135.9% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,665,138 shares of the company's stock valued at $109,234,000 after purchasing an additional 959,216 shares during the period. Vanguard Group Inc. increased its position in Arcellx by 19.7% in the first quarter. Vanguard Group Inc. now owns 3,985,156 shares of the company's stock worth $261,426,000 after buying an additional 655,064 shares in the last quarter. RA Capital Management L.P. raised its stake in shares of Arcellx by 8.9% in the first quarter. RA Capital Management L.P. now owns 3,036,527 shares of the company's stock worth $199,196,000 after buying an additional 249,200 shares during the period. Finally, Paradigm Biocapital Advisors LP lifted its position in shares of Arcellx by 2.8% during the 1st quarter. Paradigm Biocapital Advisors LP now owns 4,492,032 shares of the company's stock valued at $294,677,000 after buying an additional 120,431 shares in the last quarter. Hedge funds and other institutional investors own 96.03% of the company's stock.

Arcellx Stock Performance

ACLX stock traded up $0.36 during trading on Monday, hitting $78.22. 275,642 shares of the company's stock traded hands, compared to its average volume of 526,649. Arcellx, Inc. has a 52 week low of $47.86 and a 52 week high of $107.37. The stock has a market capitalization of $4.34 billion, a price-to-earnings ratio of -22.87 and a beta of 0.28. The business has a fifty day simple moving average of $71.85 and a 200 day simple moving average of $66.85.

Arcellx (NASDAQ:ACLX - Get Free Report) last posted its earnings results 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 net margin of 329.93% and a negative return on equity of 43.04%. The firm had revenue of $7.55 million for the quarter, compared to the consensus estimate of $16.76 million. Research analysts forecast that Arcellx, Inc. will post -1.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ACLX has been the subject of several analyst reports. HC Wainwright reissued a "buy" rating and issued a $115.00 target price on shares of Arcellx in a report on Monday, June 16th. Cantor Fitzgerald raised shares of Arcellx to a "strong-buy" rating in a research note on Monday, August 4th. Scotiabank raised their price objective 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. Finally, Citigroup started coverage on shares of Arcellx in a report on Tuesday, June 17th. They issued a "buy" rating and a $110.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the stock. Based on data from MarketBeat, Arcellx presently has a consensus rating of "Buy" and an average price target of $114.31.

Insider Transactions at Arcellx

In related news, insider Christopher Heery sold 3,343 shares of the firm's stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $80.01, for a total value of $267,473.43. Following the completion of the sale, the insider directly owned 34,427 shares in the company, valued at $2,754,504.27. This trade represents a 8.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.35% of the stock is currently owned by company 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).