Vanguard Group Inc. Has $73.14 Million Stock Position in Arcellx, Inc. (NASDAQ:ACLX)

Vanguard Group Inc. raised its stake in Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 2.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,038,557 shares of the company's stock after acquiring an additional 43,970 shares during the quarter. Vanguard Group Inc. owned approximately 4.19% of Arcellx worth $73,143,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Novo Holdings A S purchased a new stake in shares of Arcellx in the first quarter valued at $56,317,000. Perceptive Advisors LLC grew its position in shares of Arcellx by 4.5% in the second quarter. Perceptive Advisors LLC now owns 4,016,397 shares of the company's stock valued at $126,998,000 after purchasing an additional 174,658 shares during the period. Suvretta Capital Management LLC grew its position in Arcellx by 18.8% during the second quarter. Suvretta Capital Management LLC now owns 2,848,167 shares of the company's stock valued at $90,059,000 after acquiring an additional 449,846 shares during the period. BlackRock Inc. grew its position in Arcellx by 17.1% during the second quarter. BlackRock Inc. now owns 2,602,485 shares of the company's stock valued at $82,291,000 after acquiring an additional 380,128 shares during the period. Finally, State Street Corp grew its position in Arcellx by 3.1% during the second quarter. State Street Corp now owns 1,931,765 shares of the company's stock valued at $61,082,000 after acquiring an additional 57,309 shares during the period. 96.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Arcellx

In other news, insider Christopher Heery sold 2,967 shares of the company's stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $64.46, for a total transaction of $191,252.82. Following the completion of the transaction, the insider now directly owns 30,303 shares of the company's stock, valued at $1,953,331.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Christopher Heery sold 2,967 shares of the company's stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $64.46, for a total transaction of $191,252.82. Following the completion of the transaction, the insider now directly owns 30,303 shares of the company's stock, valued at $1,953,331.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Olivia C. Ware sold 9,000 shares of the company's stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $70.40, for a total value of $633,600.00. The disclosure for this sale can be found here. Insiders have sold 596,412 shares of company stock worth $41,917,612 over the last quarter. 5.86% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ACLX. Stifel Nicolaus reissued a "buy" rating and set a $82.00 price target on shares of Arcellx in a research report on Thursday, March 14th. Needham & Company LLC boosted their price target on Arcellx from $72.00 to $81.00 and gave the company a "buy" rating in a research report on Monday, March 18th. Barclays upped their target price on Arcellx from $62.00 to $73.00 and gave the stock an "overweight" rating in a research report on Thursday, February 29th. Truist Financial upped their target price on Arcellx from $57.00 to $87.00 and gave the stock a "buy" rating in a research report on Tuesday, March 5th. Finally, Robert W. Baird upped their target price on Arcellx from $63.00 to $77.00 and gave the stock an "outperform" rating in a research report on Thursday, February 29th. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Arcellx presently has a consensus rating of "Buy" and an average price target of $74.17.

Arcellx Stock Performance

Shares of NASDAQ:ACLX traded up $0.21 during trading on Friday, hitting $62.22. The company's stock had a trading volume of 319,403 shares, compared to its average volume of 431,222. Arcellx, Inc. has a fifty-two week low of $27.35 and a fifty-two week high of $75.10. The stock's 50-day moving average price is $66.35 and its two-hundred day moving average price is $53.69. The company has a market capitalization of $3.29 billion, a PE ratio of -42.33 and a beta of 0.02.

Arcellx (NASDAQ:ACLX - Get Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.95. Arcellx had a negative return on equity of 20.96% and a negative net margin of 64.08%. The firm had revenue of $63.15 million for the quarter, compared to analysts' expectations of $20.07 million. During the same quarter in the prior year, the firm posted ($0.76) earnings per share. On average, equities analysts predict that Arcellx, Inc. will post -1.69 earnings per share for the current fiscal year.

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).