Arcellx, Inc. (NASDAQ:ACLX) Shares Sold by HighVista Strategies LLC

HighVista Strategies LLC decreased its position in Arcellx, Inc. (NASDAQ:ACLX) by 29.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 51,040 shares of the company’s stock after selling 21,190 shares during the quarter. Arcellx comprises about 1.0% of HighVista Strategies LLC’s holdings, making the stock its 23rd largest position. HighVista Strategies LLC owned 0.10% of Arcellx worth $2,817,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ACLX. Quest Partners LLC acquired a new stake in shares of Arcellx during the second quarter worth $27,000. Plato Investment Management Ltd acquired a new position in shares of Arcellx during the 1st quarter valued at about $51,000. National Bank of Canada FI lifted its holdings in shares of Arcellx by 50.0% during the 2nd quarter. National Bank of Canada FI now owns 1,500 shares of the company’s stock worth $80,000 after acquiring an additional 500 shares during the period. Advisory Alpha LLC purchased a new stake in Arcellx in the first quarter valued at approximately $209,000. Finally, Public Employees Retirement Association of Colorado purchased a new position in shares of Arcellx in the 2nd quarter worth $178,000. 96.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on ACLX shares. Truist Financial reiterated a “buy” rating and issued a $87.00 price target on shares of Arcellx in a report on Tuesday, June 18th. Piper Sandler began coverage on Arcellx in a research note on Friday, May 31st. They issued an “overweight” rating and a $70.00 target price for the company. 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. Needham & Company LLC restated a “buy” rating and issued a $81.00 price target on shares of Arcellx in a report on Friday, August 9th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcellx in a research note on Monday, September 9th. Fourteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $78.00.

Arcellx Stock Performance

Arcellx stock opened at $86.61 on Monday. Arcellx, Inc. has a 1 year low of $30.88 and a 1 year high of $88.66. The firm’s 50-day moving average is $66.35 and its 200-day moving average is $60.62. The company has a market cap of $4.63 billion, a P/E ratio of -84.09 and a beta of 0.23.

Arcellx (NASDAQ:ACLX) last posted its earnings results on Thursday, August 8th. The company reported ($0.51) EPS for the quarter, beating the consensus estimate of ($0.52) by $0.01. The company had revenue of $27.38 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. As a group, sell-side analysts predict that Arcellx, Inc. will post -1.65 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Christopher Heery sold 27,451 shares of Arcellx stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $67.03, for a total transaction of $1,840,040.53. Following the sale, the insider now owns 9,278 shares of the company’s stock, valued at $621,904.34. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Christopher Heery sold 27,451 shares of Arcellx stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $67.03, for a total transaction of $1,840,040.53. Following the sale, the insider now directly owns 9,278 shares in the company, valued at $621,904.34. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Michelle Gilson sold 15,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $77.73, for a total transaction of $1,165,950.00. Following the completion of the sale, the chief financial officer now directly owns 6,915 shares of the company’s stock, valued at approximately $537,502.95. The disclosure for this sale can be found here. Insiders have sold a total of 129,505 shares of company stock valued at $8,351,337 in the last quarter. Company insiders own 6.24% of the company’s stock.

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).