Parkman Healthcare Partners LLC Sells 22,000 Shares of Arcellx, Inc. (NASDAQ:ACLX)

Parkman Healthcare Partners LLC lessened its stake in Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 33.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,492 shares of the company's stock after selling 22,000 shares during the quarter. Parkman Healthcare Partners LLC owned approximately 0.08% of Arcellx worth $3,412,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Nicholas Investment Partners LP grew its position in shares of Arcellx by 31.4% in the fourth quarter. Nicholas Investment Partners LP now owns 48,086 shares of the company's stock valued at $3,688,000 after purchasing an additional 11,500 shares in the last quarter. Millennium Management LLC boosted its holdings in Arcellx by 123.7% during the 4th quarter. Millennium Management LLC now owns 22,370 shares of the company's stock valued at $1,716,000 after acquiring an additional 12,370 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Arcellx by 6.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,363 shares of the company's stock valued at $2,103,000 after purchasing an additional 1,589 shares during the last quarter. Brevan Howard Capital Management LP bought a new position in Arcellx during the 4th quarter valued at approximately $466,000. Finally, Bamco Inc. NY raised its position in shares of Arcellx by 1.6% in the 4th quarter. Bamco Inc. NY now owns 348,333 shares of the company's stock worth $26,714,000 after acquiring an additional 5,501 shares in the last quarter. 96.03% of the stock is currently owned by institutional investors.

Arcellx Trading Down 2.1%

Shares of ACLX opened at $58.25 on Wednesday. Arcellx, Inc. has a twelve month low of $47.86 and a twelve month high of $107.37. The firm has a market capitalization of $3.21 billion, a P/E ratio of -82.04 and a beta of 0.34. The firm's 50-day moving average is $64.11 and its two-hundred day moving average is $72.42.

Arcellx (NASDAQ:ACLX - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($1.13) 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%. Analysts predict that Arcellx, Inc. will post -1.58 EPS for the current year.

Insiders Place Their Bets

In other Arcellx news, Director Kavita Patel sold 1,500 shares of the company's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $63.16, for a total value of $94,740.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Rami Elghandour sold 38,300 shares of the stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders sold a total of 54,455 shares of company stock valued at $3,407,903 in the last ninety days. Corporate insiders own 6.24% of the company's stock.

Wall Street Analyst Weigh In

Separately, Scotiabank cut their price target on Arcellx from $133.00 to $93.00 and set a "sector outperform" rating on the stock in a research note on Friday, May 9th. Thirteen analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $109.31.

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).

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