Arcellx, Inc. (NASDAQ:ACLX) Stake Lessened by Vestal Point Capital LP

Vestal Point Capital LP trimmed its holdings in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 29.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 475,000 shares of the company's stock after selling 200,000 shares during the period. Arcellx accounts for about 2.2% of Vestal Point Capital LP's holdings, making the stock its 17th biggest holding. Vestal Point Capital LP owned approximately 0.88% of Arcellx worth $36,428,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new position in Arcellx in the 4th quarter worth $41,000. KBC Group NV lifted its holdings in Arcellx by 37.3% in the 4th quarter. KBC Group NV now owns 1,388 shares of the company's stock worth $106,000 after buying an additional 377 shares in the last quarter. Avanza Fonder AB acquired a new position in Arcellx in the 4th quarter worth $184,000. Kazazian Asset Management LLC acquired a new position in Arcellx in the 4th quarter worth $204,000. Finally, Landscape Capital Management L.L.C. acquired a new position in Arcellx in the 4th quarter worth $214,000. 96.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Arcellx news, 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 value of $2,375,366.00. Following the sale, the insider now owns 149,186 shares in the company, valued at approximately $9,252,515.72. This trade represents a 20.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavita Patel sold 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $63.16, for a total transaction of $94,740.00. The disclosure for this sale can be found here. Insiders have sold a total of 55,955 shares of company stock worth $3,495,548 over the last quarter. 6.24% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Scotiabank cut their price objective 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 research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $111.33.

Arcellx Trading Down 2.0%

ACLX traded down $1.29 on Friday, hitting $63.92. 1,081,250 shares of the company's stock were exchanged, compared to its average volume of 599,907. The firm has a market cap of $3.52 billion, a PE ratio of -90.03 and a beta of 0.34. Arcellx, Inc. has a twelve month low of $47.86 and a twelve month high of $107.37. The stock has a fifty day moving average of $62.31 and a two-hundred day moving average of $71.04.

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 the consensus estimate of ($0.84) by ($0.29). The business had revenue of $8.13 million for the quarter, compared to analyst estimates of $19.51 million. Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. On average, analysts predict that Arcellx, Inc. will post -1.58 EPS for the current year.

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).