Bank of New York Mellon Corp Buys 27,350 Shares of Arcellx, Inc. (NASDAQ:ACLX)

Bank of New York Mellon Corp raised its stake in Arcellx, Inc. (NASDAQ:ACLX) by 23.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 144,409 shares of the company’s stock after buying an additional 27,350 shares during the period. Bank of New York Mellon Corp owned about 0.27% of Arcellx worth $11,075,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ACLX. KBC Group NV boosted its holdings in Arcellx by 37.3% in the fourth quarter. KBC Group NV now owns 1,388 shares of the company’s stock valued at $106,000 after acquiring an additional 377 shares during the last quarter. Quarry LP bought a new stake in shares of Arcellx in the 3rd quarter valued at $125,000. Quest Partners LLC increased its position in shares of Arcellx by 210.1% during the third quarter. Quest Partners LLC now owns 1,532 shares of the company’s stock worth $128,000 after buying an additional 1,038 shares during the period. Avanza Fonder AB acquired a new stake in shares of Arcellx during the fourth quarter worth $184,000. Finally, Entropy Technologies LP bought a new position in Arcellx during the third quarter worth $293,000. Institutional investors and hedge funds own 96.03% of the company’s stock.

Insiders Place Their Bets

In other Arcellx news, Director Kavita Patel sold 1,500 shares of the company’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $76.97, for a total value of $115,455.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher Heery sold 3,301 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $79.55, for a total value of $262,594.55. Following the sale, the insider now directly owns 35,517 shares of the company’s stock, valued at $2,825,377.35. The trade was a 8.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 64,370 shares of company stock valued at $4,189,641. Corporate insiders own 6.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. HC Wainwright reaffirmed a “buy” rating and set a $115.00 price target on shares of Arcellx in a research report on Tuesday, December 10th. Needham & Company LLC restated a “buy” rating and set a $105.00 target price on shares of Arcellx in a research report on Monday, December 9th. Barclays upgraded Arcellx to a “strong-buy” rating in a report on Friday, November 29th. Finally, UBS Group increased 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. Thirteen analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Arcellx presently has a consensus rating of “Buy” and a consensus price target of $108.46.

Arcellx Trading Down 1.6 %

Shares of ACLX stock opened at $71.58 on Friday. The firm has a fifty day simple moving average of $67.08 and a two-hundred day simple moving average of $77.65. Arcellx, Inc. has a 12 month low of $47.88 and a 12 month high of $107.37. The firm has a market capitalization of $3.93 billion, a PE ratio of -100.82 and a beta of 0.32.

Arcellx (NASDAQ:ACLX) last posted its earnings results on Thursday, February 27th. The company reported ($0.87) EPS for the quarter, missing the consensus estimate of ($0.63) by ($0.24). Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. The business had revenue of $15.27 million for the quarter, compared to the consensus estimate of $27.42 million. On average, equities analysts predict that Arcellx, Inc. will post -1.58 earnings per share for the current fiscal year.

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).