Arcellx, Inc. (NASDAQ:ACLX) Shares Acquired by AQR Capital Management LLC

AQR Capital Management LLC lifted its stake in Arcellx, Inc. (NASDAQ:ACLX) by 38.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 16,852 shares of the company’s stock after acquiring an additional 4,718 shares during the quarter. AQR Capital Management LLC’s holdings in Arcellx were worth $930,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Affinity Asset Advisors LLC lifted its stake in Arcellx by 53.3% during the second quarter. Affinity Asset Advisors LLC now owns 460,000 shares of the company’s stock worth $25,387,000 after purchasing an additional 160,000 shares in the last quarter. Great Point Partners LLC lifted its stake in Arcellx by 64.0% during the 2nd quarter. Great Point Partners LLC now owns 492,000 shares of the company’s stock worth $27,153,000 after acquiring an additional 192,000 shares in the last quarter. Integral Health Asset Management LLC boosted its holdings in Arcellx by 7.8% during the 2nd quarter. Integral Health Asset Management LLC now owns 275,000 shares of the company’s stock valued at $15,177,000 after acquiring an additional 20,000 shares during the period. Public Employees Retirement Association of Colorado acquired a new position in Arcellx in the 2nd quarter valued at about $178,000. Finally, Renaissance Technologies LLC purchased a new stake in Arcellx during the second quarter worth about $1,494,000. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Insider Activity

In other news, insider Christopher Heery sold 27,451 shares of Arcellx stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $67.03, for a total value of $1,840,040.53. Following the transaction, the insider now directly owns 9,278 shares of the company’s stock, valued at $621,904.34. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Kavita Patel sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $74.41, for a total value of $111,615.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Christopher Heery sold 27,451 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $67.03, for a total value of $1,840,040.53. Following the sale, the insider now directly owns 9,278 shares of the company’s stock, valued at approximately $621,904.34. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 81,457 shares of company stock valued at $5,704,100. 6.24% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ACLX. Redburn Atlantic started coverage on shares of Arcellx in a report on Tuesday, October 8th. They issued a “buy” rating and a $109.00 price objective for the company. Cantor Fitzgerald restated an “overweight” rating on shares of Arcellx in a research note on Monday, September 9th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $85.00 price objective on shares of Arcellx in a research report on Monday, July 22nd. Truist Financial reiterated a “buy” rating and issued a $87.00 target price on shares of Arcellx in a report on Tuesday, June 18th. Finally, Needham & Company LLC reissued a “buy” rating and set a $81.00 target price on shares of Arcellx in a research note on Friday, August 9th. Fourteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $80.38.

Arcellx Price Performance

NASDAQ ACLX opened at $86.20 on Friday. The company has a fifty day moving average of $72.19 and a two-hundred day moving average of $61.86. The company has a market capitalization of $4.63 billion, a PE ratio of -82.88 and a beta of 0.25. Arcellx, Inc. has a 1 year low of $30.88 and a 1 year high of $88.66.

Arcellx (NASDAQ:ACLX) last announced its earnings results on Thursday, August 8th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.01. The firm 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%. Arcellx’s revenue for the quarter was up 91.5% on a year-over-year basis. On average, research analysts expect that Arcellx, Inc. will post -1.65 earnings per share for the current year.

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).