Affinity Asset Advisors LLC Has $25.39 Million Stake in Arcellx, Inc. (NASDAQ:ACLX)

Affinity Asset Advisors LLC raised its position in shares of Arcellx, Inc. (NASDAQ:ACLX) by 53.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 460,000 shares of the company’s stock after purchasing an additional 160,000 shares during the quarter. Arcellx accounts for about 2.9% of Affinity Asset Advisors LLC’s investment portfolio, making the stock its 6th biggest holding. Affinity Asset Advisors LLC owned 0.86% of Arcellx worth $25,387,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quest Partners LLC purchased a new stake in shares of Arcellx during the 2nd quarter valued at about $27,000. National Bank of Canada FI boosted its holdings in shares of Arcellx by 50.0% in the second quarter. National Bank of Canada FI now owns 1,500 shares of the company’s stock worth $80,000 after buying an additional 500 shares during the last quarter. Principal Financial Group Inc. grew its position in Arcellx by 1.4% during the second quarter. Principal Financial Group Inc. now owns 37,352 shares of the company’s stock valued at $2,061,000 after buying an additional 517 shares during the period. Plato Investment Management Ltd purchased a new stake in Arcellx during the first quarter valued at approximately $51,000. Finally, High Net Worth Advisory Group LLC raised its position in Arcellx by 14.3% in the first quarter. High Net Worth Advisory Group LLC now owns 8,000 shares of the company’s stock worth $556,000 after acquiring an additional 1,000 shares during the period. Institutional investors own 96.03% of the company’s stock.

Wall Street Analyst Weigh In

ACLX has been the subject of several recent research reports. Canaccord Genuity Group reissued a “buy” rating and set a $85.00 price target on shares of Arcellx in a report on Monday, July 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $81.00 price target on shares of Arcellx in a research report on Friday, August 9th. Piper Sandler assumed coverage on shares of Arcellx in a research report on Friday, May 31st. They set an “overweight” rating and a $70.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcellx in a research note on Monday, September 9th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $87.00 price objective on shares of Arcellx in a research note on Tuesday, June 18th. Fourteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $78.00.

Insider Buying and Selling at Arcellx

In other Arcellx news, CFO Michelle Gilson sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $77.73, for a total value of $1,165,950.00. Following the completion of the transaction, the chief financial officer now directly owns 6,915 shares of the company’s stock, valued at $537,502.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Michelle Gilson sold 15,000 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $77.73, for a total transaction of $1,165,950.00. Following the sale, the chief financial officer now directly owns 6,915 shares of the company’s stock, valued at approximately $537,502.95. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kavita Patel sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $54.27, for a total value of $542,700.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 116,628 shares of company stock valued at $7,659,842. 6.24% of the stock is owned by insiders.

Arcellx Price Performance

NASDAQ:ACLX opened at $84.44 on Wednesday. Arcellx, Inc. has a 52 week low of $30.88 and a 52 week high of $88.66. The firm has a 50 day moving average of $67.17 and a 200 day moving average of $60.81.

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

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).