Insider Selling: Arcellx, Inc. (NASDAQ:ACLX) Director Sells 15,238 Shares of Stock

by · The Markets Daily

Arcellx, Inc. (NASDAQ:ACLX – Get Free Report) Director Kavita Patel sold 15,238 shares of Arcellx stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $105.92, for a total transaction of $1,614,008.96. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Kavita Patel also recently made the following trade(s):

  • On Friday, November 8th, Kavita Patel sold 33,763 shares of Arcellx stock. The shares were sold at an average price of $104.14, for a total transaction of $3,516,078.82.
  • On Tuesday, October 22nd, Kavita Patel sold 1,500 shares of Arcellx stock. The stock was sold at an average price of $89.69, for a total transaction of $134,535.00.
  • On Tuesday, September 10th, Kavita Patel sold 1,500 shares of Arcellx stock. The stock was sold at an average price of $74.41, for a total value of $111,615.00.

Arcellx Stock Performance

Shares of ACLX stock opened at $100.48 on Wednesday. The company has a market cap of $5.40 billion, a P/E ratio of -141.52 and a beta of 0.27. Arcellx, Inc. has a fifty-two week low of $43.83 and a fifty-two week high of $107.37. The stock has a 50 day simple moving average of $84.45 and a two-hundred day simple moving average of $66.84.

Arcellx (NASDAQ:ACLX – Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.54) by $0.06. Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.25%. The business had revenue of $26.03 million for the quarter, compared to analyst estimates of $35.21 million. On average, research analysts predict that Arcellx, Inc. will post -1.64 earnings per share for the current year.

Institutional Trading of Arcellx

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its stake in Arcellx by 21.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,944 shares of the company’s stock valued at $161,000 after acquiring an additional 347 shares during the period. Quest Partners LLC bought a new position in shares of Arcellx in the 2nd quarter worth $27,000. National Bank of Canada FI grew its position in Arcellx by 50.0% in the 2nd quarter. National Bank of Canada FI now owns 1,500 shares of the company’s stock valued at $80,000 after purchasing an additional 500 shares during the period. High Net Worth Advisory Group LLC increased its stake in Arcellx by 6.3% during the 3rd quarter. High Net Worth Advisory Group LLC now owns 8,500 shares of the company’s stock valued at $710,000 after purchasing an additional 500 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Arcellx by 1.4% during the second quarter. Principal Financial Group Inc. now owns 37,352 shares of the company’s stock worth $2,061,000 after buying an additional 517 shares during the last quarter. 96.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ACLX. Truist Financial lifted their price target on Arcellx from $87.00 to $136.00 and gave the company a “buy” rating in a research note on Tuesday. Canaccord Genuity Group upped their price target on shares of Arcellx from $85.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcellx in a report on Monday, September 9th. Robert W. Baird increased their price objective on Arcellx from $77.00 to $106.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Finally, Piper Sandler raised their target price on Arcellx from $91.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Thirteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $103.08.

View Our Latest Stock Analysis on Arcellx

About Arcellx

(Get Free Report)

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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