Tower Research Capital LLC TRC Purchases 7,308 Shares of Arcellx, Inc. (NASDAQ:ACLX)

Tower Research Capital LLC TRC lifted its stake in Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 1,081.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,984 shares of the company's stock after acquiring an additional 7,308 shares during the quarter. Tower Research Capital LLC TRC's holdings in Arcellx were worth $612,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Arcellx by 9.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,836 shares of the company's stock valued at $754,000 after acquiring an additional 858 shares during the last quarter. Lord Abbett & CO. LLC increased its position in shares of Arcellx by 2.1% in the third quarter. Lord Abbett & CO. LLC now owns 891,848 shares of the company's stock valued at $74,478,000 after acquiring an additional 18,004 shares during the last quarter. Gilead Sciences Inc. acquired a new stake in shares of Arcellx in the fourth quarter valued at about $515,418,000. Swiss National Bank increased its position in Arcellx by 0.8% during the fourth quarter. Swiss National Bank now owns 63,400 shares of the company's stock worth $4,862,000 after buying an additional 500 shares during the last quarter. Finally, Avanza Fonder AB acquired a new position in Arcellx during the fourth quarter worth approximately $184,000. Institutional investors and hedge funds own 96.03% of the company's stock.

Insiders Place Their Bets

In other news, Director Kavita Patel sold 1,500 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $64.57, for a total transaction of $96,855.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Rami Elghandour sold 38,300 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $62.02, for a total value of $2,375,366.00. Following the sale, the insider now owns 149,186 shares of the company's stock, valued at approximately $9,252,515.72. This represents a 20.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,955 shares of company stock valued at $3,504,758 over the last 90 days. 6.24% of the stock is currently owned by insiders.

Arcellx Price Performance

NASDAQ ACLX traded up $0.58 during trading on Thursday, reaching $65.53. 314,995 shares of the company's stock were exchanged, compared to its average volume of 553,575. The business has a 50 day moving average price of $64.77 and a 200-day moving average price of $74.43. The stock has a market capitalization of $3.61 billion, a P/E ratio of -92.29 and a beta of 0.33. Arcellx, Inc. has a fifty-two week low of $47.88 and a fifty-two week high of $107.37.

Arcellx (NASDAQ:ACLX - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.87) earnings per share for the quarter, missing analysts' consensus estimates of ($0.63) by ($0.24). The business had revenue of $15.27 million for the quarter, compared to analyst estimates of $27.42 million. Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. On average, analysts forecast that Arcellx, Inc. will post -1.58 earnings per share for the current year.

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).