Voya Investment Management LLC Buys 140,899 Shares of Arcellx, Inc. $ACLX

Key Points

• Voya Investment Management LLC increased its stake in Arcellx, Inc. by 103.4% in the first quarter, owning approximately 277,102 shares valued at $18.18 million.
• Arcellx reported a quarterly earnings per share of ($0.94), exceeding analysts' expectations, but its revenue of $7.55 million fell significantly short of the consensus estimate of $16.76 million.
• Recent analyst reports have set new price targets for Arcellx, with Scotiabank raising its target from $93 to $133 and a consensus target of $114.31 among analysts.

Voya Investment Management LLC raised its stake in Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 103.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 277,102 shares of the company's stock after buying an additional 140,899 shares during the period. Voya Investment Management LLC owned about 0.50% of Arcellx worth $18,178,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ACLX. BNP Paribas Financial Markets bought a new stake in shares of Arcellx in the 4th quarter valued at about $1,531,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Arcellx by 6.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,363 shares of the company's stock valued at $2,103,000 after buying an additional 1,589 shares during the last quarter. Millennium Management LLC grew its position in shares of Arcellx by 123.7% in the 4th quarter. Millennium Management LLC now owns 22,370 shares of the company's stock valued at $1,716,000 after buying an additional 12,370 shares during the last quarter. ProShare Advisors LLC grew its position in shares of Arcellx by 29.8% in the 4th quarter. ProShare Advisors LLC now owns 14,700 shares of the company's stock valued at $1,127,000 after buying an additional 3,378 shares during the last quarter. Finally, Rafferty Asset Management LLC grew its position in shares of Arcellx by 27.4% in the 4th quarter. Rafferty Asset Management LLC now owns 71,037 shares of the company's stock valued at $5,448,000 after buying an additional 15,293 shares during the last quarter. Institutional investors own 96.03% of the company's stock.

Arcellx Stock Performance

ACLX stock opened at $76.19 on Monday. The stock's 50 day simple moving average is $70.73 and its 200 day simple moving average is $66.40. 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 $4.23 billion, a P/E ratio of -22.28 and a beta of 0.28.

Arcellx (NASDAQ:ACLX - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.94) earnings per share for the quarter, topping 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 business had revenue of $7.55 million for the quarter, compared to the consensus estimate of $16.76 million. Equities analysts predict that Arcellx, Inc. will post -1.58 earnings per share for the current year.

Analysts Set New Price Targets

ACLX has been the topic of a number of recent analyst reports. Scotiabank boosted their price objective on Arcellx from $93.00 to $133.00 and gave the company a "sector outperform" rating in a research note on Thursday, July 31st. Citigroup initiated coverage on Arcellx in a research note on Tuesday, June 17th. They issued a "buy" rating and a $110.00 price objective on the stock. HC Wainwright reissued a "buy" rating and issued a $115.00 price objective on shares of Arcellx in a research note on Monday, June 16th. Finally, Cantor Fitzgerald raised Arcellx to a "strong-buy" rating in a research note on Monday, August 4th. 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 company currently has an average rating of "Buy" and a consensus price target of $114.31.

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).

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