Goldman Sachs Group Inc. Has $19.74 Million Position in Arcellx, Inc. (NASDAQ:ACLX)

Goldman Sachs Group Inc. cut its holdings in shares of Arcellx, Inc. (NASDAQ:ACLX) by 59.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 355,693 shares of the company’s stock after selling 519,165 shares during the quarter. Goldman Sachs Group Inc. owned about 0.73% of Arcellx worth $19,741,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ACLX. Exchange Traded Concepts LLC increased its holdings in shares of Arcellx by 34.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 4,241 shares of the company’s stock worth $235,000 after acquiring an additional 1,076 shares during the last quarter. Corton Capital Inc. acquired a new position in Arcellx in the 3rd quarter valued at $270,000. China Universal Asset Management Co. Ltd. grew its holdings in Arcellx by 351.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 5,632 shares of the company’s stock valued at $313,000 after buying an additional 4,384 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Arcellx by 36.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,405 shares of the company’s stock valued at $355,000 after buying an additional 1,701 shares in the last quarter. Finally, High Net Worth Advisory Group LLC grew its holdings in Arcellx by 7.7% in the 4th quarter. High Net Worth Advisory Group LLC now owns 7,000 shares of the company’s stock valued at $388,000 after buying an additional 500 shares in the last quarter. 96.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ACLX has been the topic of a number of research reports. Piper Sandler initiated coverage on Arcellx in a report on Friday, May 31st. They issued an “overweight” rating and a $70.00 price objective on the stock. Canaccord Genuity Group upped their price objective on Arcellx from $66.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Robert W. Baird upped their price objective on Arcellx from $63.00 to $77.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Stifel Nicolaus upped their price objective on Arcellx from $82.00 to $83.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Finally, Evercore ISI assumed coverage on Arcellx in a report on Tuesday, May 14th. They set an “outperform” rating and a $85.00 target price on the stock. Thirteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Arcellx has an average rating of “Buy” and a consensus price target of $78.00.

Arcellx Stock Down 0.2 %

Shares of ACLX stock opened at $53.66 on Thursday. Arcellx, Inc. has a twelve month low of $30.74 and a twelve month high of $75.10. The company has a market cap of $2.87 billion, a P/E ratio of -52.10 and a beta of 0.23. The business has a fifty day simple moving average of $52.76 and a 200 day simple moving average of $58.21.

Arcellx (NASDAQ:ACLX) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.51) by $0.37. Arcellx had a negative return on equity of 13.11% and a negative net margin of 38.39%. The business had revenue of $39.26 million during the quarter, compared to the consensus estimate of $20.67 million. During the same period in the prior year, the company earned ($0.58) EPS. Arcellx’s revenue for the quarter was up 119.2% on a year-over-year basis. As a group, equities research analysts anticipate that Arcellx, Inc. will post -1.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Arcellx

In other Arcellx news, insider Rami Elghandour sold 23,086 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $67.09, for a total value of $1,548,839.74. Following the completion of the transaction, the insider now directly owns 69,253 shares in the company, valued at $4,646,183.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Arcellx news, insider Rami Elghandour sold 23,086 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $67.09, for a total value of $1,548,839.74. Following the completion of the transaction, the insider now directly owns 69,253 shares in the company, valued at $4,646,183.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michelle Gilson sold 12,121 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $50.71, for a total value of $614,655.91. Following the completion of the transaction, the chief financial officer now owns 19,792 shares of the company’s stock, valued at $1,003,652.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 82,777 shares of company stock worth $4,720,940. 6.24% of the stock is currently owned by insiders.

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).