TD Asset Management Inc Purchases 4,402 Shares of Arcellx, Inc. (NASDAQ:ACLX)

TD Asset Management Inc increased its holdings in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 2.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 168,320 shares of the company's stock after buying an additional 4,402 shares during the period. TD Asset Management Inc owned about 0.31% of Arcellx worth $11,042,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ACLX. GAMMA Investing LLC boosted its holdings in shares of Arcellx by 104.1% during the 1st quarter. GAMMA Investing LLC now owns 494 shares of the company's stock worth $32,000 after buying an additional 252 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Arcellx during the 4th quarter valued at $41,000. GF Fund Management CO. LTD. bought a new position in Arcellx during the fourth quarter worth $87,000. Amalgamated Bank raised its holdings in shares of Arcellx by 12.0% during the first quarter. Amalgamated Bank now owns 1,508 shares of the company's stock valued at $99,000 after purchasing an additional 161 shares during the period. Finally, Landscape Capital Management L.L.C. bought a new position in shares of Arcellx during the 4th quarter worth about $214,000. 96.03% of the stock is owned by institutional investors.

Arcellx Price Performance

NASDAQ:ACLX traded down $0.25 on Friday, reaching $71.14. 330,989 shares of the company's stock were exchanged, compared to its average volume of 404,218. The stock has a fifty day simple moving average of $66.67 and a 200-day simple moving average of $65.05. Arcellx, Inc. has a 52 week low of $47.86 and a 52 week 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 analysts' consensus estimates of ($0.84) by ($0.29). Arcellx had a negative net margin of 211.46% and a negative return on equity of 35.27%. The business had revenue of $8.13 million during the quarter, compared to analysts' expectations of $19.51 million. Equities analysts forecast that Arcellx, Inc. will post -1.58 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ACLX shares. HC Wainwright reaffirmed a "buy" rating and set a $115.00 price target on shares of Arcellx in a research note on Monday, June 16th. Citigroup initiated coverage on shares of Arcellx in a research note on Tuesday, June 17th. They set a "buy" rating and a $110.00 price target for the company. Finally, Scotiabank lifted their price objective on shares of Arcellx from $93.00 to $133.00 and gave the company a "sector outperform" rating in a report on Thursday. Fourteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $114.31.

Insiders Place Their Bets

In related news, Director Kavita Patel sold 1,500 shares of Arcellx stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $67.36, for a total transaction of $101,040.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.35% of the stock is owned by insiders.

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).