Arcellx, Inc. (NASDAQ:ACLX) Stock Holdings Lowered by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its position in shares of Arcellx, Inc. (NASDAQ:ACLX) by 24.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,240 shares of the company’s stock after selling 15,785 shares during the period. Thrivent Financial for Lutherans owned 0.09% of Arcellx worth $4,029,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its stake in Arcellx by 6.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,344,553 shares of the company’s stock valued at $93,514,000 after acquiring an additional 84,373 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in Arcellx by 37.0% in the third quarter. Harbor Capital Advisors Inc. now owns 27,896 shares of the company’s stock worth $2,330,000 after purchasing an additional 7,534 shares during the period. Renaissance Technologies LLC bought a new position in Arcellx in the 2nd quarter valued at about $1,494,000. Great Point Partners LLC increased 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 valued at $27,153,000 after buying an additional 192,000 shares during the period. Finally, Rhumbline Advisers raised its position in shares of Arcellx by 14.3% during the 2nd quarter. Rhumbline Advisers now owns 60,570 shares of the company’s stock worth $3,343,000 after buying an additional 7,568 shares in the last quarter. Institutional investors own 96.03% of the company’s stock.

Arcellx Stock Performance

Shares of ACLX stock opened at $90.44 on Monday. Arcellx, Inc. has a 52 week low of $46.42 and a 52 week high of $107.37. The stock has a market capitalization of $4.89 billion, a PE ratio of -127.38 and a beta of 0.27. The stock’s fifty day moving average is $87.29 and its 200-day moving average is $68.89.

Arcellx (NASDAQ:ACLX) last announced its earnings results on Thursday, November 7th. The company reported ($0.48) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.06. The company had revenue of $26.03 million during the quarter, compared to the consensus estimate of $35.21 million. Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. As a group, analysts forecast that Arcellx, Inc. will post -1.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ACLX shares. Morgan Stanley raised their price objective on shares of Arcellx from $81.00 to $106.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Needham & Company LLC reissued a “buy” rating and issued a $96.00 price objective on shares of Arcellx in a research note on Wednesday, November 6th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcellx in a report on Monday, September 9th. Redburn Atlantic began coverage on shares of Arcellx in a research report on Tuesday, October 8th. They issued a “buy” rating and a $109.00 price target on the stock. Finally, Truist Financial upped their price objective on shares of Arcellx from $87.00 to $136.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Thirteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $103.08.

Insider Buying and Selling

In other news, Director Kavita Patel sold 1,500 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $74.41, for a total transaction of $111,615.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Michelle Gilson sold 15,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $77.73, for a total value of $1,165,950.00. Following the transaction, the chief financial officer now directly owns 6,915 shares of the company’s stock, valued at $537,502.95. This trade represents a 68.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,873 shares of company stock worth $8,621,767 over the last ninety days. Company 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).