Arcellx, Inc. (NASDAQ:ACLX) Shares Bought by Rhumbline Advisers

Rhumbline Advisers lifted its stake in shares of Arcellx, Inc. (NASDAQ:ACLX) by 1.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 59,903 shares of the company’s stock after buying an additional 1,125 shares during the quarter. Rhumbline Advisers owned 0.11% of Arcellx worth $4,594,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the company. First Turn Management LLC purchased a new stake in Arcellx during the 3rd quarter worth approximately $17,896,000. Charles Schwab Investment Management Inc. boosted its position in shares of Arcellx by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 328,093 shares of the company’s stock worth $27,399,000 after buying an additional 14,200 shares during the period. Harbor Capital Advisors Inc. grew its stake in shares of Arcellx by 37.0% in the third quarter. Harbor Capital Advisors Inc. now owns 27,896 shares of the company’s stock worth $2,330,000 after purchasing an additional 7,534 shares in the last quarter. Lord Abbett & CO. LLC increased its holdings in shares of Arcellx by 2.1% during the third quarter. Lord Abbett & CO. LLC now owns 891,848 shares of the company’s stock valued at $74,478,000 after purchasing an additional 18,004 shares during the period. Finally, Intech Investment Management LLC bought a new stake in shares of Arcellx during the third quarter valued at about $800,000. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on ACLX. Needham & Company LLC restated a “buy” rating and set a $105.00 price target on shares of Arcellx in a research report on Monday, December 9th. Piper Sandler upped their target price on Arcellx from $91.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Barclays upgraded Arcellx to a “strong-buy” rating in a research report on Friday, November 29th. Morgan Stanley boosted their price objective on Arcellx from $81.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Finally, Robert W. Baird raised their target price on Arcellx from $77.00 to $106.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Thirteen analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $105.93.

Insider Buying and Selling at Arcellx

In other Arcellx news, Director Kavita Patel sold 1,500 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $91.88, for a total value of $137,820.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Rami Elghandour sold 38,300 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 149,186 shares of the company’s stock, valued at approximately $9,252,515.72. This represents a 20.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 65,870 shares of company stock valued at $4,327,461 in the last quarter. Company insiders own 6.24% of the company’s stock.

Arcellx Trading Up 1.9 %

ACLX stock opened at $61.39 on Friday. Arcellx, Inc. has a one year low of $47.88 and a one year high of $107.37. The firm has a 50-day moving average of $69.01 and a two-hundred day moving average of $77.44. The firm has a market capitalization of $3.32 billion, a PE ratio of -86.46 and a beta of 0.29.

Arcellx (NASDAQ:ACLX) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.87) earnings per share for the quarter, missing the consensus estimate of ($0.63) by ($0.24). Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. On average, equities research analysts anticipate that Arcellx, Inc. will post -1.58 earnings per share for the current year.

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).