Arcellx, Inc. (NASDAQ:ACLX) Shares Sold by FORA Capital LLC

FORA Capital LLC trimmed its holdings in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 68.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,064 shares of the company's stock after selling 8,871 shares during the quarter. FORA Capital LLC's holdings in Arcellx were worth $312,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ACLX. Headlands Technologies LLC purchased a new position in Arcellx in the fourth quarter worth $41,000. KBC Group NV grew its holdings in 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 purchasing an additional 377 shares during the last quarter. Avanza Fonder AB purchased a new position in Arcellx in the fourth quarter worth $184,000. Kazazian Asset Management LLC purchased a new position in Arcellx in the fourth quarter worth $204,000. Finally, Landscape Capital Management L.L.C. acquired a new stake in shares of Arcellx during the fourth quarter worth $214,000. 96.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, insider Rami Elghandour sold 38,300 shares of the firm's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $62.02, for a total transaction of $2,375,366.00. Following the completion of the sale, the insider now directly owns 149,186 shares of the company's stock, valued at approximately $9,252,515.72. This trade represents a 20.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kavita Patel sold 1,500 shares of the firm's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $64.20, for a total transaction of $96,300.00. The disclosure for this sale can be found here. Insiders have sold a total of 54,455 shares of company stock valued at $3,407,903 over the last quarter. Company insiders own 6.24% of the company's stock.

Arcellx Price Performance

Shares of NASDAQ ACLX traded down $0.10 on Friday, hitting $58.35. The company's stock had a trading volume of 220,070 shares, compared to its average volume of 583,840. Arcellx, Inc. has a 12-month low of $47.86 and a 12-month high of $107.37. The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of -82.09 and a beta of 0.34. The stock has a 50 day moving average of $63.39 and a 200-day moving average of $72.05.

Arcellx (NASDAQ:ACLX - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.84) by ($0.29). The firm had revenue of $8.13 million for the quarter, compared to analysts' expectations of $19.51 million. Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. Sell-side analysts expect that Arcellx, Inc. will post -1.58 EPS for the current fiscal year.

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).