Vanguard Group Inc. Grows Stock Holdings in Arcellx, Inc. (NASDAQ:ACLX)

Vanguard Group Inc. raised its stake in Arcellx, Inc. (NASDAQ:ACLX) by 35.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,330,092 shares of the company’s stock after buying an additional 867,996 shares during the period. Vanguard Group Inc. owned approximately 6.16% of Arcellx worth $255,385,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. KBC Group NV raised its holdings in Arcellx by 37.3% during the fourth quarter. KBC Group NV now owns 1,388 shares of the company’s stock worth $106,000 after purchasing an additional 377 shares during the last quarter. Quarry LP purchased a new stake in shares of Arcellx in the 3rd quarter worth about $125,000. Avanza Fonder AB acquired a new stake in Arcellx in the 4th quarter valued at about $184,000. Kazazian Asset Management LLC purchased a new position in Arcellx during the 4th quarter valued at about $204,000. Finally, Xponance Inc. raised its position in Arcellx by 8.6% during the fourth quarter. Xponance Inc. now owns 3,088 shares of the company’s stock worth $237,000 after acquiring an additional 244 shares during the last quarter. 96.03% of the stock is currently owned by institutional investors and hedge funds.

Arcellx Stock Down 6.2 %

Shares of ACLX opened at $58.59 on Friday. Arcellx, Inc. has a fifty-two week low of $47.88 and a fifty-two week high of $107.37. The company’s fifty day moving average is $66.67 and its two-hundred day moving average is $77.26. The firm has a market cap of $3.22 billion, a PE ratio of -82.52 and a beta of 0.32.

Arcellx (NASDAQ:ACLX) last issued its earnings results on Thursday, February 27th. The company reported ($0.87) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.24). The firm had revenue of $15.27 million during the quarter, compared to analyst estimates of $27.42 million. Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. As a group, equities research analysts anticipate that Arcellx, Inc. will post -1.58 earnings per share for the current year.

Insider Buying and Selling

In other Arcellx news, insider Rami Elghandour sold 38,300 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $62.02, for a total transaction of $2,375,366.00. Following the transaction, the insider now owns 149,186 shares in the company, valued at $9,252,515.72. The trade was a 20.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kavita Patel sold 1,500 shares of the stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $71.64, for a total value of $107,460.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,069 shares of company stock valued at $3,919,051. 6.24% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ACLX has been the subject of a number of recent research reports. HC Wainwright reissued a “buy” rating and set a $115.00 price objective on shares of Arcellx in a research note on Tuesday, December 10th. UBS Group boosted their price target on Arcellx from $106.00 to $114.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $105.00 price objective on shares of Arcellx in a research note on Monday, December 9th. Twelve analysts have rated the stock with a buy rating and two have 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 $110.67.

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).