Great Point Partners LLC Increases Stake in Arcellx, Inc. (NASDAQ:ACLX)

Great Point Partners LLC grew its position in shares of Arcellx, Inc. (NASDAQ:ACLX) by 64.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 492,000 shares of the company’s stock after purchasing an additional 192,000 shares during the quarter. Arcellx comprises approximately 5.2% of Great Point Partners LLC’s investment portfolio, making the stock its 6th largest position. Great Point Partners LLC owned approximately 0.92% of Arcellx worth $27,153,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quest Partners LLC bought a new stake in shares of Arcellx during the 2nd quarter valued at about $27,000. Plato Investment Management Ltd bought a new position in shares of Arcellx during the 1st quarter worth approximately $51,000. National Bank of Canada FI grew its position in shares of Arcellx by 50.0% during the 2nd quarter. National Bank of Canada FI now owns 1,500 shares of the company’s stock worth $80,000 after buying an additional 500 shares during the period. Public Employees Retirement Association of Colorado bought a new stake in shares of Arcellx in the 2nd quarter valued at $178,000. Finally, Advisory Alpha LLC acquired a new position in shares of Arcellx during the 1st quarter valued at $209,000. Institutional investors and hedge funds own 96.03% of the company’s stock.

Arcellx Trading Down 0.7 %

NASDAQ ACLX opened at $85.98 on Tuesday. The business has a fifty day simple moving average of $66.80 and a 200 day simple moving average of $60.72. Arcellx, Inc. has a 12 month low of $30.88 and a 12 month high of $88.66. The firm has a market capitalization of $4.60 billion, a P/E ratio of -83.48 and a beta of 0.23.

Arcellx (NASDAQ:ACLX) last announced its earnings results on Thursday, August 8th. The company reported ($0.51) EPS for the quarter, beating the consensus estimate 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 company had revenue of $27.38 million during the quarter, compared to the consensus estimate of $22.04 million. The company’s quarterly revenue was up 91.5% on a year-over-year basis. As a group, sell-side analysts predict that Arcellx, Inc. will post -1.65 EPS for the current fiscal year.

Analysts Set New Price Targets

ACLX has been the subject of a number of research reports. Canaccord Genuity Group restated a “buy” rating and issued a $85.00 price target on shares of Arcellx in a report on Monday, July 22nd. Truist Financial reaffirmed a “buy” rating and issued a $87.00 target price on shares of Arcellx in a research report on Tuesday, June 18th. Piper Sandler started coverage on Arcellx in a research note on Friday, May 31st. They set an “overweight” rating and a $70.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Arcellx in a research note on Monday, September 9th. Finally, Needham & Company LLC restated a “buy” rating and set a $81.00 price objective on shares of Arcellx in a report on Friday, August 9th. Fourteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Arcellx currently has an average rating of “Buy” and an average target price of $78.00.

Insider Activity at Arcellx

In related news, insider Christopher Heery sold 20,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $55.39, for a total transaction of $1,107,800.00. Following the completion of the sale, the insider now owns 9,278 shares in the company, valued at $513,908.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Michelle Gilson sold 15,000 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $77.73, for a total transaction of $1,165,950.00. Following the completion of the transaction, the chief financial officer now owns 6,915 shares in the company, valued at approximately $537,502.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher Heery sold 20,000 shares of Arcellx stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $55.39, for a total value of $1,107,800.00. Following the completion of the sale, the insider now directly owns 9,278 shares of the company’s stock, valued at approximately $513,908.42. The disclosure for this sale can be found here. Over the last three months, insiders sold 129,505 shares of company stock valued at $8,351,337. 6.24% of the stock is owned by 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).