Quest Partners LLC Invests $27,000 in Arcellx, Inc. (NASDAQ:ACLX)

Quest Partners LLC bought a new stake in shares of Arcellx, Inc. (NASDAQ:ACLX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 494 shares of the company’s stock, valued at approximately $27,000.

Several other large investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its position in shares of Arcellx by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 264,178 shares of the company’s stock valued at $14,662,000 after purchasing an additional 3,722 shares in the last quarter. Vestal Point Capital LP purchased a new position in shares of Arcellx in the fourth quarter worth approximately $3,330,000. PFM Health Sciences LP raised its holdings in shares of Arcellx by 39.5% during the fourth quarter. PFM Health Sciences LP now owns 335,198 shares of the company’s stock valued at $18,603,000 after acquiring an additional 94,860 shares during the period. Perceptive Advisors LLC raised its holdings in shares of Arcellx by 14.6% during the fourth quarter. Perceptive Advisors LLC now owns 4,544,809 shares of the company’s stock valued at $252,237,000 after acquiring an additional 578,831 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of Arcellx by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 2,061,819 shares of the company’s stock valued at $114,431,000 after acquiring an additional 23,262 shares in the last quarter. Institutional investors own 96.03% of the company’s stock.

Insider Activity

In related news, CFO Michelle Gilson sold 12,877 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $53.70, for a total value of $691,494.90. Following the transaction, the chief financial officer now directly owns 6,915 shares of the company’s stock, valued at approximately $371,335.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Michelle Gilson sold 12,877 shares of Arcellx stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $53.70, for a total value of $691,494.90. Following the transaction, the chief financial officer now owns 6,915 shares in the company, valued at approximately $371,335.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kavita Patel sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $74.41, for a total value of $111,615.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 129,505 shares of company stock valued at $8,351,337. Insiders own 6.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Piper Sandler initiated 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 report on Monday, September 9th. Needham & Company LLC reissued a “buy” rating and issued a $81.00 price objective on shares of Arcellx in a research note on Friday, August 9th. Truist Financial restated a “buy” rating and set a $87.00 price objective on shares of Arcellx in a research report on Tuesday, June 18th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $85.00 target price on shares of Arcellx in a report on Monday, July 22nd. Fourteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Arcellx presently has an average rating of “Buy” and a consensus target price of $78.00.

Arcellx Stock Up 1.4 %

Shares of ACLX opened at $86.61 on Friday. The company’s fifty day moving average is $66.35 and its 200-day moving average is $60.76. Arcellx, Inc. has a 12 month low of $30.88 and a 12 month high of $88.66. The firm has a market cap of $4.63 billion, a price-to-earnings ratio of -84.09 and a beta of 0.23.

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

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).