Arizona State Retirement System Purchases 1,101 Shares of Arcellx, Inc. (NASDAQ:ACLX)

Arizona State Retirement System increased its stake in shares of Arcellx, Inc. (NASDAQ:ACLX) by 14.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,950 shares of the company’s stock after buying an additional 1,101 shares during the quarter. Arizona State Retirement System’s holdings in Arcellx were worth $494,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Perceptive Advisors LLC increased its holdings in Arcellx by 14.6% during the 4th quarter. Perceptive Advisors LLC now owns 4,544,809 shares of the company’s stock valued at $252,237,000 after purchasing an additional 578,831 shares in the last quarter. Bamco Inc. NY increased its stake in shares of Arcellx by 292.1% in the 1st quarter. Bamco Inc. NY now owns 248,993 shares of the company’s stock valued at $17,317,000 after buying an additional 185,493 shares during the period. Vanguard Group Inc. increased its stake in shares of Arcellx by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 2,228,856 shares of the company’s stock valued at $155,017,000 after buying an additional 167,037 shares during the period. PFM Health Sciences LP increased its stake in shares of Arcellx by 39.5% in the 4th quarter. PFM Health Sciences LP now owns 335,198 shares of the company’s stock valued at $18,603,000 after buying an additional 94,860 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of 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 purchasing an additional 84,373 shares during the last quarter. Institutional investors own 96.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on ACLX. Truist Financial reiterated a “buy” rating and set a $87.00 target price on shares of Arcellx in a report on Tuesday, June 18th. Piper Sandler began coverage on Arcellx in a report on Friday, May 31st. They set an “overweight” rating and a $70.00 target price on the stock. Canaccord Genuity Group reiterated a “buy” rating and set a $85.00 target price on shares of Arcellx in a report on Monday, July 22nd. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcellx in a report on Monday, September 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $81.00 target price on shares of Arcellx in a research report on Friday, August 9th. Fourteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $78.00.

Arcellx Trading Up 0.2 %

Shares of ACLX stock opened at $77.01 on Tuesday. The stock has a market cap of $4.12 billion, a P/E ratio of -74.77 and a beta of 0.23. The stock has a 50 day simple moving average of $64.46 and a 200 day simple moving average of $60.24. Arcellx, Inc. has a 1 year low of $30.88 and a 1 year high of $79.94.

Arcellx (NASDAQ:ACLX) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.52) by $0.01. The business had revenue of $27.38 million during the quarter, compared to analysts’ expectations of $22.04 million. Arcellx had a negative return on equity of 12.42% and a negative net margin of 37.23%. The firm’s revenue for the quarter was up 91.5% on a year-over-year basis. Analysts forecast that Arcellx, Inc. will post -1.65 EPS for the current year.

Insider Transactions at Arcellx

In other news, CFO Michelle Gilson sold 12,877 shares of the company’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $53.70, for a total transaction of $691,494.90. Following the completion of the transaction, the chief financial officer now directly owns 6,915 shares in the company, valued at $371,335.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Christopher Heery sold 20,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $55.39, for a total transaction of $1,107,800.00. Following the transaction, the insider now owns 9,278 shares of the company’s stock, valued at approximately $513,908.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michelle Gilson sold 12,877 shares of the stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $53.70, for a total transaction of $691,494.90. Following the transaction, the chief financial officer now directly owns 6,915 shares in the company, valued at approximately $371,335.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 114,505 shares of company stock worth $7,185,387. Corporate insiders own 6.24% of the company’s stock.

About Arcellx

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).