Integral Health Asset Management LLC Sells 175,000 Shares of Arcellx, Inc. (NASDAQ:ACLX)

Integral Health Asset Management LLC decreased its position in Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 63.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 100,000 shares of the company's stock after selling 175,000 shares during the quarter. Integral Health Asset Management LLC owned about 0.18% of Arcellx worth $7,669,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brevan Howard Capital Management LP acquired a new stake in shares of Arcellx in the 4th quarter valued at $466,000. Bamco Inc. NY lifted its holdings in Arcellx by 1.6% during the 4th quarter. Bamco Inc. NY now owns 348,333 shares of the company's stock worth $26,714,000 after buying an additional 5,501 shares during the period. BNP Paribas Financial Markets acquired a new position in Arcellx during the 4th quarter worth about $1,531,000. Algert Global LLC acquired a new position in Arcellx during the 4th quarter worth about $525,000. Finally, Allostery Investments LP acquired a new position in Arcellx during the 4th quarter worth about $2,684,000. Institutional investors and hedge funds own 96.03% of the company's stock.

Arcellx Price Performance

Shares of NASDAQ ACLX traded up $0.33 during midday trading on Friday, reaching $58.78. The company's stock had a trading volume of 626,744 shares, compared to its average volume of 586,215. Arcellx, Inc. has a 12-month low of $47.86 and a 12-month high of $107.37. The firm has a 50 day moving average price of $63.20 and a 200-day moving average price of $71.75. The stock has a market capitalization of $3.24 billion, a P/E ratio of -82.79 and a beta of 0.34.

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

Insider Activity at Arcellx

In other Arcellx news, Director Kavita Patel sold 1,500 shares of the business's stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $57.50, for a total transaction of $86,250.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Christopher Heery sold 10,155 shares of the business's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $63.79, for a total transaction of $647,787.45. Following the sale, the insider now directly owns 37,486 shares in the company, valued at $2,391,231.94. The trade was a 21.32% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,455 shares of company stock worth $3,407,903. Insiders own 6.24% of the company's stock.

Wall Street Analyst Weigh In

Separately, Scotiabank cut their target price on Arcellx from $133.00 to $93.00 and set a "sector outperform" rating on the stock in a report on Friday, May 9th. Thirteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $111.33.

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).