Voya Investment Management LLC Raises Holdings in 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 holdings in Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 103.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 277,102 shares of the company's stock after buying an additional 140,899 shares during the quarter. Voya Investment Management LLC owned 0.50% of Arcellx worth $18,178,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in ACLX. GAMMA Investing LLC lifted its stake in Arcellx by 104.1% in the first quarter. GAMMA Investing LLC now owns 494 shares of the company's stock valued at $32,000 after buying an additional 252 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Arcellx in the first quarter valued at approximately $50,000. GF Fund Management CO. LTD. acquired a new position in Arcellx in the fourth quarter valued at approximately $87,000. Amalgamated Bank increased its holdings in shares of Arcellx by 12.0% during the first quarter. Amalgamated Bank now owns 1,508 shares of the company's stock valued at $99,000 after acquiring an additional 161 shares in the last quarter. Finally, Covestor Ltd increased its holdings in shares of Arcellx by 47.6% during the first quarter. Covestor Ltd now owns 2,137 shares of the company's stock valued at $140,000 after acquiring an additional 689 shares in the last quarter. 96.03% of the stock is owned by institutional investors and hedge funds.

Arcellx Trading Down 2.7%

Arcellx stock traded down $2.12 during trading on Friday, hitting $77.86. 825,799 shares of the company were exchanged, compared to its average volume of 508,098. The business's 50 day moving average is $71.68 and its 200 day moving average is $66.82. Arcellx, Inc. has a 52 week low of $47.86 and a 52 week high of $107.37. The company has a market capitalization of $4.32 billion, a P/E ratio of -22.77 and a beta of 0.28.

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

Insiders Place Their Bets

In other Arcellx news, insider Christopher Heery sold 3,343 shares of the business's stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $80.01, for a total value of $267,473.43. Following the transaction, the insider owned 34,427 shares of the company's stock, valued at approximately $2,754,504.27. The trade was a 8.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 8.35% of the company's stock.

Analyst Ratings Changes

ACLX has been the subject of several recent research reports. Cantor Fitzgerald upgraded Arcellx to a "strong-buy" rating in a report on Monday, August 4th. Citigroup initiated coverage on Arcellx in a report on Tuesday, June 17th. They set a "buy" rating and a $110.00 price objective for the company. Scotiabank boosted their price objective on Arcellx from $93.00 to $133.00 and gave the company a "sector outperform" rating in a report on Thursday, July 31st. Finally, HC Wainwright restated a "buy" rating and set a $115.00 price objective on shares of Arcellx in a report on Monday, June 16th. Two investment analysts have rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the company. According to data from MarketBeat, the company currently has a consensus 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).