Voloridge Investment Management LLC Purchases 8,936 Shares of Arcellx, Inc. (NASDAQ:ACLX)

Voloridge Investment Management LLC raised its holdings in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 5.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 178,198 shares of the company's stock after purchasing an additional 8,936 shares during the quarter. Voloridge Investment Management LLC owned 0.33% of Arcellx worth $13,666,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in ACLX. Headlands Technologies LLC bought a new stake in shares of Arcellx in the 4th quarter worth approximately $41,000. KBC Group NV boosted its position in Arcellx by 37.3% during the fourth quarter. KBC Group NV now owns 1,388 shares of the company's stock valued at $106,000 after purchasing an additional 377 shares during the last quarter. Kazazian Asset Management LLC acquired a new stake in shares of Arcellx in the fourth quarter worth about $204,000. Landscape Capital Management L.L.C. acquired a new stake in shares of Arcellx in the fourth quarter worth about $214,000. Finally, Xponance Inc. lifted its position in shares of Arcellx by 8.6% during the 4th quarter. Xponance Inc. now owns 3,088 shares of the company's stock worth $237,000 after purchasing an additional 244 shares during the last quarter. Institutional investors and hedge funds own 96.03% of the company's stock.

Insider Transactions at Arcellx

In other news, Director Kavita Patel sold 1,500 shares of the business's stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $57.50, for a total transaction of $86,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 6,000 shares of company stock worth $377,655 in the last quarter. Insiders own 8.35% of the company's stock.

Analyst Upgrades and Downgrades

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

Arcellx Trading Up 3.4%

Shares of NASDAQ:ACLX traded up $2.07 during trading on Thursday, reaching $63.22. 122,427 shares of the stock were exchanged, compared to its average volume of 599,393. 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 $3.48 billion, a PE ratio of -89.03 and a beta of 0.34. The stock has a 50-day moving average price of $61.80 and a 200-day moving average price of $70.30.

Arcellx (NASDAQ:ACLX - Get Free Report) last posted its quarterly earnings data 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 company 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%. On average, sell-side analysts expect that Arcellx, Inc. will post -1.58 earnings per share 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).