Charles Schwab Investment Management Inc. Acquires 14,200 Shares of Arcellx, Inc. (NASDAQ:ACLX)

Charles Schwab Investment Management Inc. raised its holdings in shares of Arcellx, Inc. (NASDAQ:ACLX) by 4.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 328,093 shares of the company’s stock after acquiring an additional 14,200 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.61% of Arcellx worth $27,399,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Great Point Partners LLC grew its stake in shares of 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. Affinity Asset Advisors LLC grew its stake in shares of Arcellx by 53.3% during the 2nd quarter. Affinity Asset Advisors LLC now owns 460,000 shares of the company’s stock worth $25,387,000 after acquiring an additional 160,000 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Arcellx by 20.4% in the second quarter. Victory Capital Management Inc. now owns 283,872 shares of the company’s stock valued at $15,667,000 after buying an additional 48,006 shares in the last quarter. Integral Health Asset Management LLC grew its stake in shares of Arcellx by 7.8% in the second quarter. Integral Health Asset Management LLC now owns 275,000 shares of the company’s stock valued at $15,177,000 after buying an additional 20,000 shares in the last quarter. Finally, First Turn Management LLC bought a new position in shares of Arcellx in the third quarter valued at $17,896,000. 96.03% of the stock is owned by institutional investors.

Arcellx Stock Performance

ACLX opened at $85.85 on Thursday. Arcellx, Inc. has a fifty-two week low of $46.42 and a fifty-two week high of $107.37. The company has a market capitalization of $4.64 billion, a P/E ratio of -120.91 and a beta of 0.25. The stock has a fifty day moving average of $88.38 and a 200-day moving average of $71.01.

Arcellx (NASDAQ:ACLX) last posted 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. Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. The company had revenue of $26.03 million during the quarter, compared to the consensus estimate of $35.21 million. On average, equities research analysts predict that Arcellx, Inc. will post -1.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on ACLX. Truist Financial raised their target price 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. Morgan Stanley raised their target price 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. Bank of America raised their target price on shares of Arcellx from $84.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Redburn Atlantic began coverage on shares of Arcellx in a research note on Tuesday, October 8th. They issued a “buy” rating and a $109.00 target price for the company. Finally, Stifel Nicolaus raised their target price on shares of Arcellx from $83.00 to $122.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Thirteen 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 MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $103.08.

Insider Transactions at Arcellx

In related news, CFO Michelle Gilson sold 15,000 shares of the business’s stock in a transaction dated 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 owns 6,915 shares of the company’s stock, valued at $537,502.95. The trade was a 68.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kavita Patel sold 33,763 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $104.14, for a total value of $3,516,078.82. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,001 shares of company stock valued at $6,542,188. 6.24% of the stock is currently owned by corporate insiders.

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).