Arcellx, Inc. (NASDAQ:ACLX) Holdings Trimmed by Vestal Point Capital LP

Vestal Point Capital LP cut its position in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 29.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 475,000 shares of the company's stock after selling 200,000 shares during the quarter. Arcellx accounts for about 2.2% of Vestal Point Capital LP's investment portfolio, making the stock its 17th largest holding. Vestal Point Capital LP owned about 0.88% of Arcellx worth $36,428,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Soleus Capital Management L.P. increased its stake in Arcellx by 30.1% during the fourth quarter. Soleus Capital Management L.P. now owns 121,031 shares of the company's stock valued at $9,282,000 after purchasing an additional 28,000 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in shares of Arcellx by 24.4% in the 4th quarter. Two Sigma Advisers LP now owns 5,600 shares of the company's stock valued at $429,000 after buying an additional 1,100 shares during the period. Tema Etfs LLC bought a new stake in shares of Arcellx during the 4th quarter valued at about $573,000. Sherbrooke Park Advisers LLC bought a new stake in shares of Arcellx during the 4th quarter valued at about $292,000. Finally, Rafferty Asset Management LLC raised its stake in Arcellx by 27.4% during the fourth quarter. Rafferty Asset Management LLC now owns 71,037 shares of the company's stock worth $5,448,000 after acquiring an additional 15,293 shares during the period. 96.03% of the stock is currently owned by institutional investors.

Arcellx Trading Down 0.5%

ACLX traded down $0.33 during trading hours on Thursday, hitting $65.21. The company's stock had a trading volume of 1,622,545 shares, compared to its average volume of 598,980. Arcellx, Inc. has a fifty-two week low of $47.86 and a fifty-two week high of $107.37. The firm has a market capitalization of $3.59 billion, a PE ratio of -91.84 and a beta of 0.34. The company has a 50-day simple moving average of $62.42 and a 200 day simple moving average of $71.20.

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

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, Director Kavita Patel sold 1,500 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $63.16, for a total value of $94,740.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Rami Elghandour sold 38,300 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $62.02, for a total transaction of $2,375,366.00. Following the transaction, the insider now owns 149,186 shares in the company, valued at $9,252,515.72. This represents a 20.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,955 shares of company stock valued at $3,495,548 over the last 90 days. 6.24% of the stock is currently owned by company insiders.

Arcellx 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).