Nicholas Investment Partners LP Has $3.69 Million Position in Arcellx, Inc. (NASDAQ:ACLX)

Nicholas Investment Partners LP grew its holdings in Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 31.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,086 shares of the company's stock after acquiring an additional 11,500 shares during the period. Nicholas Investment Partners LP owned 0.09% of Arcellx worth $3,688,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new position in Arcellx in the 4th quarter valued at $41,000. KBC Group NV raised 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 acquiring an additional 377 shares during the last quarter. Avanza Fonder AB bought a new stake in shares of Arcellx during the fourth quarter worth approximately $184,000. Kazazian Asset Management LLC bought a new stake in shares of Arcellx during the fourth quarter worth approximately $204,000. Finally, Landscape Capital Management L.L.C. bought a new stake in shares of Arcellx during the fourth quarter worth approximately $214,000. 96.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Scotiabank dropped their price target 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 investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $111.33.

Arcellx Price Performance

NASDAQ ACLX traded down $0.82 on Monday, hitting $57.96. 135,156 shares of the stock were exchanged, compared to its average volume of 584,435. The business's fifty day moving average is $63.20 and its 200 day moving average is $71.66. Arcellx, Inc. has a 52 week low of $47.86 and a 52 week high of $107.37. The company has a market capitalization of $3.19 billion, a PE ratio of -81.45 and a beta of 0.34.

Arcellx (NASDAQ:ACLX - Get Free Report) last posted its quarterly earnings results 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). Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. The firm had revenue of $8.13 million for the quarter, compared to the consensus estimate of $19.51 million. Analysts predict that Arcellx, Inc. will post -1.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other Arcellx news, insider Rami Elghandour sold 38,300 shares of the company'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 sale, the insider now directly owns 149,186 shares of the company's stock, valued at approximately $9,252,515.72. This represents a 20.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Christopher Heery sold 10,155 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $63.79, for a total transaction of $647,787.45. Following the sale, the insider now owns 37,486 shares of the company's stock, valued at approximately $2,391,231.94. This represents a 21.32% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,455 shares of company stock valued at $3,407,903. 6.24% of the stock is currently 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).