Arcellx, Inc. (NASDAQ:ACLX) CFO Michelle Gilson Sells 12,877 Shares of Stock

Arcellx, Inc. (NASDAQ:ACLX) CFO Michelle Gilson sold 12,877 shares of Arcellx stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $53.70, for a total transaction of $691,494.90. Following the transaction, the chief financial officer now owns 6,915 shares of the company’s stock, valued at $371,335.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Michelle Gilson also recently made the following trade(s):

• On Friday, May 24th, Michelle Gilson sold 12,121 shares of Arcellx stock. The shares were sold at an average price of $50.71, for a total transaction of $614,655.91.

Arcellx Trading Up 2.0 %

Shares of NASDAQ:ACLX opened at $55.19 on Friday. The company has a 50 day moving average of $52.82 and a 200 day moving average of $58.21. The stock has a market cap of $2.95 billion, a P/E ratio of -53.58 and a beta of 0.23. Arcellx, Inc. has a 12 month low of $30.74 and a 12 month high of $75.10.

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

Hedge Funds Weigh In On Arcellx

Several hedge funds have recently bought and sold shares of the company. Plato Investment Management Ltd purchased a new position in Arcellx in the 1st quarter worth approximately $51,000. Bamco Inc. NY grew its stake in Arcellx by 292.1% in the 1st quarter. Bamco Inc. NY now owns 248,993 shares of the company’s stock worth $17,317,000 after buying an additional 185,493 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Arcellx by 6.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,344,553 shares of the company’s stock worth $93,514,000 after buying an additional 84,373 shares in the last quarter. Advisors Asset Management Inc. grew its stake in Arcellx by 951.9% in the 1st quarter. Advisors Asset Management Inc. now owns 4,197 shares of the company’s stock worth $292,000 after buying an additional 3,798 shares in the last quarter. Finally, Seven Eight Capital LP purchased a new position in Arcellx in the 1st quarter worth approximately $1,207,000. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ACLX. Scotiabank reissued an “outperform” rating and set a $82.00 price target on shares of Arcellx in a research report on Thursday, April 4th. HC Wainwright lowered their price objective on shares of Arcellx from $82.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, May 13th. Stifel Nicolaus lifted their price objective on shares of Arcellx from $82.00 to $83.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Evercore ISI initiated coverage on shares of Arcellx in a research report on Tuesday, May 14th. They issued an “outperform” rating and a $85.00 price objective on the stock. Finally, Piper Sandler initiated coverage on shares of Arcellx in a research report on Friday, May 31st. They issued an “overweight” rating and a $70.00 price objective on the stock. Thirteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $78.00.

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).