State of New Jersey Common Pension Fund D Buys Shares of 23,966 Arcellx, Inc. (NASDAQ:ACLX)

State of New Jersey Common Pension Fund D purchased a new position in Arcellx, Inc. (NASDAQ:ACLX) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 23,966 shares of the company’s stock, valued at approximately $1,838,000.

Other hedge funds have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Arcellx by 21.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,944 shares of the company’s stock valued at $161,000 after purchasing an additional 347 shares during the last quarter. abrdn plc purchased a new stake in Arcellx in the third quarter valued at about $4,242,000. China Universal Asset Management Co. Ltd. boosted its holdings in Arcellx by 64.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 10,339 shares of the company’s stock worth $863,000 after acquiring an additional 4,052 shares in the last quarter. US Bancorp DE grew its stake in shares of Arcellx by 60.0% during the third quarter. US Bancorp DE now owns 7,603 shares of the company’s stock worth $635,000 after acquiring an additional 2,851 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of Arcellx by 37.0% during the third quarter. Harbor Capital Advisors Inc. now owns 27,896 shares of the company’s stock valued at $2,330,000 after acquiring an additional 7,534 shares in the last quarter. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Arcellx

In other news, insider Christopher Heery sold 10,155 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $63.79, for a total value of $647,787.45. Following the completion of the sale, the insider now owns 37,486 shares of the company’s stock, valued at $2,391,231.94. This represents a 21.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kavita Patel sold 1,500 shares of the stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $76.97, for a total value of $115,455.00. The disclosure for this sale can be found here. Insiders sold 27,570 shares of company stock worth $1,952,095 in the last 90 days. 6.24% of the stock is owned by company insiders.

Analyst Ratings Changes

ACLX has been the subject of a number of research reports. Piper Sandler lifted their price target on Arcellx from $91.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Bank of America lifted their target price on Arcellx from $84.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. UBS Group increased their price target on shares of Arcellx from $106.00 to $114.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Truist Financial lifted 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. Finally, Morgan Stanley increased their price objective on shares of Arcellx from $81.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Thirteen equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Arcellx currently has an average rating of “Buy” and a consensus target price of $105.93.

Arcellx Price Performance

Arcellx stock opened at $62.65 on Wednesday. The stock has a market capitalization of $3.39 billion, a P/E ratio of -88.24 and a beta of 0.29. Arcellx, Inc. has a 12-month low of $47.88 and a 12-month high of $107.37. The firm’s 50-day moving average is $69.31 and its two-hundred day moving average is $77.56.

Arcellx 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).