Voloridge Investment Management LLC Grows Stock Holdings in Arcellx, Inc. (NASDAQ:ACLX)

Voloridge Investment Management LLC grew its stake in Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 5.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 178,198 shares of the company's stock after buying an additional 8,936 shares during the quarter. Voloridge Investment Management LLC owned 0.33% of Arcellx worth $13,666,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Arcellx by 9.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,836 shares of the company's stock worth $754,000 after purchasing an additional 858 shares during the period. Dimensional Fund Advisors LP increased its stake in Arcellx by 156.2% during the 4th 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. Gilead Sciences Inc. purchased a new stake in Arcellx during the 4th quarter worth approximately $515,418,000. Invesco Ltd. increased its stake in Arcellx by 15.7% during the 4th quarter. Invesco Ltd. now owns 26,550 shares of the company's stock worth $2,036,000 after buying an additional 3,610 shares in the last quarter. Finally, Swiss National Bank increased its stake in Arcellx by 0.8% during the 4th quarter. Swiss National Bank now owns 63,400 shares of the company's stock worth $4,862,000 after buying an additional 500 shares in the last quarter. Institutional investors and hedge funds own 96.03% of the company's stock.

Arcellx Stock Down 3.1%

Arcellx stock traded down $1.97 during midday trading on Tuesday, reaching $61.95. The company's stock had a trading volume of 698,853 shares, compared to its average volume of 600,955. Arcellx, Inc. has a fifty-two week low of $47.86 and a fifty-two week high of $107.37. The company has a market cap of $3.41 billion, a P/E ratio of -87.25 and a beta of 0.34. The business has a 50-day simple moving average of $62.16 and a 200-day simple moving average of $70.42.

Arcellx (NASDAQ:ACLX - Get Free Report) last posted 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). The business had revenue of $8.13 million during the quarter, compared to analyst estimates of $19.51 million. Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. As a group, equities analysts forecast that Arcellx, Inc. will post -1.58 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Kavita Patel sold 1,500 shares of the firm's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $71.64, for a total transaction of $107,460.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Rami Elghandour sold 38,300 shares of the firm's stock in a transaction dated 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 completion of the sale, the insider now owns 149,186 shares of the company's stock, valued at approximately $9,252,515.72. The trade was a 20.43% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,300 shares of company stock valued at $2,753,021. 8.35% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

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).