Arcellx, Inc. (NASDAQ:ACLX) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 5.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 267,384 shares of the company's stock after selling 15,471 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.49% of Arcellx worth $20,506,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of ACLX. FMR LLC raised its holdings in Arcellx by 22.8% in the fourth quarter. FMR LLC now owns 7,956,633 shares of the company's stock valued at $610,194,000 after buying an additional 1,477,360 shares during the period. Gilead Sciences Inc. purchased a new position in Arcellx in the fourth quarter valued at approximately $515,418,000. Vanguard Group Inc. raised its holdings in Arcellx by 35.3% in the fourth quarter. Vanguard Group Inc. now owns 3,330,092 shares of the company's stock valued at $255,385,000 after buying an additional 867,996 shares during the period. RA Capital Management L.P. raised its holdings in Arcellx by 50.5% in the fourth quarter. RA Capital Management L.P. now owns 2,787,327 shares of the company's stock valued at $213,760,000 after buying an additional 935,848 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in Arcellx by 11.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,121,322 shares of the company's stock valued at $162,685,000 after buying an additional 220,711 shares during the period. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Arcellx Stock Down 0.2%

Shares of ACLX traded down $0.11 during mid-day trading on Friday, reaching $63.57. 803,679 shares of the stock traded hands, compared to its average volume of 604,003. Arcellx, Inc. has a 12-month low of $47.86 and a 12-month high of $107.37. The firm has a market cap of $3.50 billion, a price-to-earnings ratio of -89.53 and a beta of 0.34. The stock has a fifty day simple moving average of $61.46 and a 200 day simple moving average of $69.36.

Arcellx (NASDAQ:ACLX - Get Free Report) last released its quarterly earnings results 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 return on equity of 8.28% and a negative net margin of 25.94%. The company had revenue of $8.13 million for the quarter, compared to analyst estimates of $19.51 million. On average, equities research analysts expect that Arcellx, Inc. will post -1.58 earnings per share for the current fiscal year.

Insider Transactions at Arcellx

In other Arcellx news, Director Kavita Patel sold 1,500 shares of Arcellx stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $57.50, for a total value of $86,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders sold 6,000 shares of company stock valued at $377,655. 8.35% of the stock is currently owned by corporate 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).