Arcellx, Inc. (NASDAQ:ACLX) Shares Sold by Paradigm Biocapital Advisors LP

Paradigm Biocapital Advisors LP lowered its position in Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 8.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,371,601 shares of the company's stock after selling 428,399 shares during the period. Arcellx comprises 11.7% of Paradigm Biocapital Advisors LP's holdings, making the stock its 2nd largest position. Paradigm Biocapital Advisors LP owned 8.08% of Arcellx worth $335,258,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Arcellx by 9.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,836 shares of the company's stock worth $754,000 after purchasing an additional 858 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Arcellx by 156.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 305,088 shares of the company's stock worth $23,400,000 after purchasing an additional 186,013 shares in the last quarter. Gilead Sciences Inc. bought a new position in Arcellx during the 4th quarter worth about $515,418,000. Invesco Ltd. increased its holdings in Arcellx by 15.7% during the 4th quarter. Invesco Ltd. now owns 26,550 shares of the company's stock worth $2,036,000 after purchasing an additional 3,610 shares in the last quarter. Finally, Swiss National Bank increased its holdings in Arcellx by 0.8% during the 4th quarter. Swiss National Bank now owns 63,400 shares of the company's stock worth $4,862,000 after purchasing an additional 500 shares in the last quarter. 96.03% of the stock is owned by institutional investors and hedge funds.

Arcellx Stock Performance

NASDAQ:ACLX traded down $0.83 during mid-day trading on Monday, hitting $57.96. The stock had a trading volume of 155,281 shares, compared to its average volume of 584,527. Arcellx, Inc. has a twelve month low of $47.86 and a twelve month high of $107.37. The stock has a market cap of $3.19 billion, a price-to-earnings ratio of -81.78 and a beta of 0.34. The company's 50 day simple moving average is $63.20 and its 200 day simple moving average is $71.66.

Arcellx (NASDAQ:ACLX - Get Free Report) last issued 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 company had revenue of $8.13 million for the quarter, compared to analyst estimates of $19.51 million. Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. As a group, equities analysts forecast that Arcellx, Inc. will post -1.58 earnings per share for the current year.

Insider Activity

In other news, insider Christopher Heery sold 10,155 shares of Arcellx stock in a transaction that occurred on 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 in the company, valued at approximately $2,391,231.94. The trade was a 21.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kavita Patel sold 1,500 shares of Arcellx stock in a transaction that occurred on 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. Over the last quarter, insiders have sold 54,455 shares of company stock valued at $3,407,903. 6.24% of the stock is owned by insiders.

Analyst Ratings Changes

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

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).