First Trust Advisors LP Acquires 98,340 Shares of Arcellx, Inc. (NASDAQ:ACLX)

First Trust Advisors LP lifted its stake in Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 274.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 134,197 shares of the company's stock after buying an additional 98,340 shares during the period. First Trust Advisors LP owned approximately 0.25% of Arcellx worth $10,292,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Headlands Technologies LLC purchased a new position in Arcellx in the 4th quarter worth approximately $41,000. KBC Group NV increased its stake in shares of Arcellx by 37.3% in the fourth quarter. KBC Group NV now owns 1,388 shares of the company's stock worth $106,000 after buying an additional 377 shares during the period. Avanza Fonder AB bought a new stake in Arcellx during the 4th quarter valued at $184,000. Kazazian Asset Management LLC bought a new stake in Arcellx in the 4th quarter worth $204,000. Finally, Landscape Capital Management L.L.C. bought a new stake in Arcellx in the 4th quarter worth $214,000. Institutional investors own 96.03% of the company's stock.

Arcellx Stock Up 0.0 %

Shares of NASDAQ:ACLX traded up $0.02 during midday trading on Friday, hitting $65.55. 305,387 shares of the stock traded hands, compared to its average volume of 552,632. The business's 50 day moving average is $64.84 and its two-hundred day moving average is $74.22. The stock has a market capitalization of $3.61 billion, a PE ratio of -92.32 and a beta of 0.33. Arcellx, Inc. has a one year low of $47.88 and a one year high of $107.37.

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 during the quarter, compared to analysts' expectations of $27.42 million. Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. As a group, sell-side analysts forecast that Arcellx, Inc. will post -1.58 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Christopher Heery sold 10,155 shares of the firm's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $63.79, for a total value of $647,787.45. Following the completion of the sale, the insider now directly owns 37,486 shares of the company's stock, valued at approximately $2,391,231.94. This trade represents a 21.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kavita Patel sold 1,500 shares of the business's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $71.64, for a total transaction of $107,460.00. The disclosure for this sale can be found here. Insiders sold 55,955 shares of company stock valued at $3,504,758 over the last quarter. 6.24% of the stock is owned by company insiders.

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).