Charles Schwab Investment Management Inc. Buys 14,992 Shares of Arcellx, Inc. (NASDAQ:ACLX)

Charles Schwab Investment Management Inc. boosted its stake in shares of Arcellx, Inc. (NASDAQ:ACLX) by 4.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 343,085 shares of the company’s stock after purchasing an additional 14,992 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.63% of Arcellx worth $26,311,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. KBC Group NV boosted its holdings in shares of Arcellx by 37.3% during the 4th quarter. KBC Group NV now owns 1,388 shares of the company’s stock worth $106,000 after buying an additional 377 shares during the period. Quarry LP acquired a new position in Arcellx during the 3rd quarter worth $125,000. Quest Partners LLC boosted its holdings in Arcellx by 210.1% during the third quarter. Quest Partners LLC now owns 1,532 shares of the company’s stock valued at $128,000 after acquiring an additional 1,038 shares during the period. Avanza Fonder AB acquired a new stake in shares of Arcellx in the fourth quarter valued at about $184,000. Finally, Glenmede Trust Co. NA bought a new position in shares of Arcellx in the third quarter worth about $302,000. Institutional investors and hedge funds own 96.03% of the company’s stock.

Arcellx Price Performance

ACLX opened at $72.74 on Tuesday. Arcellx, Inc. has a 1 year low of $47.88 and a 1 year high of $107.37. The company has a market capitalization of $4.00 billion, a PE ratio of -102.45 and a beta of 0.32. The business has a fifty day simple moving average of $66.78 and a 200 day simple moving average of $77.71.

Arcellx (NASDAQ:ACLX) last released its quarterly 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 net margin of 25.94% and a negative return on equity of 8.28%. The business had revenue of $15.27 million during the quarter, compared to analyst estimates of $27.42 million. Equities analysts anticipate that Arcellx, Inc. will post -1.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ACLX shares. HC Wainwright reiterated a “buy” rating and set a $115.00 target price on shares of Arcellx in a research note on Tuesday, December 10th. Barclays raised shares of Arcellx to a “strong-buy” rating in a research report on Friday, November 29th. UBS Group lifted their target price on Arcellx from $106.00 to $114.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $105.00 price target on shares of Arcellx in a report on Monday, December 9th. Thirteen research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Arcellx presently has an average rating of “Buy” and a consensus target price of $108.46.

Insider Transactions at Arcellx

In related news, insider Rami Elghandour sold 38,300 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $62.02, for a total transaction of $2,375,366.00. Following the completion of the transaction, the insider now directly owns 149,186 shares in the company, valued at $9,252,515.72. This represents a 20.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christopher Heery sold 3,301 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $79.55, for a total transaction of $262,594.55. Following the sale, the insider now directly owns 35,517 shares in the company, valued at approximately $2,825,377.35. The trade was a 8.50 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 64,370 shares of company stock valued at $4,189,641. 6.24% of the stock is owned by corporate 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).