First Trust Advisors LP Raises Stock Holdings in Arcellx, Inc. (NASDAQ:ACLX)

First Trust Advisors LP lifted its stake in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 274.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 134,197 shares of the company's stock after acquiring an additional 98,340 shares during the period. First Trust Advisors LP owned 0.25% of Arcellx worth $10,292,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Gilead Sciences Inc. acquired a new position in shares of Arcellx during the fourth quarter valued at about $515,418,000. FMR LLC increased its position in Arcellx by 22.8% in the 4th quarter. FMR LLC now owns 7,956,633 shares of the company's stock valued at $610,194,000 after buying an additional 1,477,360 shares in the last quarter. Vanguard Group Inc. raised its stake in Arcellx by 35.3% during the 4th quarter. Vanguard Group Inc. now owns 3,330,092 shares of the company's stock worth $255,385,000 after buying an additional 867,996 shares during the period. Raymond James Financial Inc. bought a new position in Arcellx in the fourth quarter worth approximately $10,016,000. Finally, Federated Hermes Inc. grew its stake in Arcellx by 141.4% in the fourth quarter. Federated Hermes Inc. now owns 156,094 shares of the company's stock valued at $11,971,000 after acquiring an additional 91,430 shares during the period. 96.03% of the stock is owned by institutional investors.

Arcellx Price Performance

Shares of NASDAQ:ACLX traded up $0.02 during trading on Friday, reaching $65.55. 305,387 shares of the stock were exchanged, compared to its average volume of 554,266. Arcellx, Inc. has a 1-year low of $47.88 and a 1-year high of $107.37. The stock has a fifty day moving average of $64.90 and a two-hundred day moving average of $73.77. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of -92.32 and a beta of 0.33.

Arcellx (NASDAQ:ACLX - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.87) earnings per share for the quarter, missing the consensus estimate of ($0.63) by ($0.24). The business had revenue of $15.27 million for the quarter, compared to analyst estimates of $27.42 million. Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. Sell-side analysts forecast that Arcellx, Inc. will post -1.58 EPS for the current year.

Insider Activity at Arcellx

In other news, Director Kavita Patel sold 1,500 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $64.57, for a total value of $96,855.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rami Elghandour sold 38,300 shares of Arcellx 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 transaction, the insider now directly owns 149,186 shares in the company, 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. In the last quarter, insiders have sold 55,955 shares of company stock valued at $3,504,758. 6.24% of the stock is owned by corporate insiders.

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).