Vanguard Group Inc. Raises Position in Arcellx, Inc. $ACLX

Key Points

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Vanguard Group Inc. grew its stake in Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 19.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,985,156 shares of the company's stock after buying an additional 655,064 shares during the quarter. Vanguard Group Inc. owned approximately 7.24% of Arcellx worth $261,426,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Amalgamated Bank increased its position in Arcellx by 12.0% in the first quarter. Amalgamated Bank now owns 1,508 shares of the company's stock worth $99,000 after buying an additional 161 shares in the last quarter. GAMMA Investing LLC increased its position in Arcellx by 104.1% in the first 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. Dimensional Fund Advisors LP increased its position in Arcellx by 156.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 305,088 shares of the company's stock worth $23,400,000 after buying an additional 186,013 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Arcellx by 54.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 7,702 shares of the company's stock worth $468,000 after buying an additional 2,702 shares in the last quarter. Finally, Millennium Management LLC increased its position in Arcellx by 123.7% in the fourth quarter. Millennium Management LLC now owns 22,370 shares of the company's stock worth $1,716,000 after buying an additional 12,370 shares in the last quarter. Hedge funds and other institutional investors own 96.03% of the company's stock.

Insider Buying and Selling

In related news, Director Kavita Patel sold 1,500 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $67.36, for a total transaction of $101,040.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 8.35% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on ACLX shares. Citigroup started coverage on Arcellx in a research report on Tuesday, June 17th. They issued a "buy" rating and a $110.00 price target for the company. Scotiabank upped their price objective on Arcellx from $93.00 to $133.00 and gave the stock a "sector outperform" rating in a research note on Thursday, July 31st. Cantor Fitzgerald raised Arcellx to a "strong-buy" rating in a research note on Monday, August 4th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $115.00 price objective on shares of Arcellx in a research note on Monday, June 16th. Two investment analysts have rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $114.31.

Arcellx Stock Down 0.7%

Arcellx stock traded down $0.49 during midday trading on Friday, reaching $71.28. 454,774 shares of the stock traded hands, compared to its average volume of 530,697. The stock's fifty day moving average is $68.67 and its 200-day moving average is $65.62. Arcellx, Inc. has a 12 month low of $47.86 and a 12 month high of $107.37. The stock has a market cap of $3.95 billion, a P/E ratio of -20.84 and a beta of 0.28.

Arcellx (NASDAQ:ACLX - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.94) EPS for the quarter, beating analysts' consensus estimates of ($1.03) by $0.09. Arcellx had a negative return on equity of 43.04% and a negative net margin of 329.93%.The company had revenue of $7.55 million during the quarter, compared to analyst estimates of $16.76 million. On average, equities analysts predict that Arcellx, Inc. will post -1.58 EPS for the current fiscal year.

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).