Insider Selling: Arcellx, Inc. (NASDAQ:ACLX) Insider Sells $220,296.71 in Stock

Arcellx, Inc. (NASDAQ:ACLX) insider Christopher Heery sold 3,671 shares of the company’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $60.01, for a total value of $220,296.71. Following the transaction, the insider now directly owns 9,278 shares in the company, valued at $556,772.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Christopher Heery also recently made the following trade(s):

• On Monday, July 1st, Christopher Heery sold 20,000 shares of Arcellx stock. The shares were sold at an average price of $55.39, for a total value of $1,107,800.00.
• On Wednesday, June 12th, Christopher Heery sold 20,000 shares of Arcellx stock. The shares were sold at an average price of $55.13, for a total value of $1,102,600.00.
• On Wednesday, May 1st, Christopher Heery sold 18,168 shares of Arcellx stock. The shares were sold at an average price of $51.33, for a total value of $932,563.44.

Arcellx Stock Up 5.3 %

ACLX stock opened at $62.43 on Monday. The company’s 50-day simple moving average is $53.63 and its 200-day simple moving average is $58.56. Arcellx, Inc. has a 52-week low of $30.88 and a 52-week high of $75.10. The firm has a market cap of $3.34 billion, a P/E ratio of -60.61 and a beta of 0.23.

Arcellx (NASDAQ:ACLX) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.37. The firm had revenue of $39.26 million for the quarter, compared to analyst estimates of $20.67 million. Arcellx had a negative net margin of 38.39% and a negative return on equity of 13.11%. Arcellx’s quarterly revenue was up 119.2% compared to the same quarter last year. During the same period last year, the company posted ($0.58) EPS. On average, analysts anticipate that Arcellx, Inc. will post -1.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

ACLX has been the topic of several research reports. Stifel Nicolaus upped their target price on Arcellx from $82.00 to $83.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $81.00 price target on shares of Arcellx in a research report on Tuesday, May 7th. HC Wainwright cut their price target on Arcellx from $82.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, May 13th. Scotiabank reaffirmed an “outperform” rating and set a $82.00 price target on shares of Arcellx in a research report on Thursday, April 4th. Finally, Evercore ISI started coverage on Arcellx in a research report on Tuesday, May 14th. They set an “outperform” rating and a $85.00 price target on the stock. Thirteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Arcellx currently has a consensus rating of “Buy” and an average target price of $78.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Perceptive Advisors LLC lifted its stake in Arcellx by 14.6% in the 4th quarter. Perceptive Advisors LLC now owns 4,544,809 shares of the company’s stock valued at $252,237,000 after buying an additional 578,831 shares in the last quarter. Vanguard Group Inc. lifted its stake in Arcellx by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 2,228,856 shares of the company’s stock valued at $155,017,000 after buying an additional 167,037 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Arcellx by 6.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,344,553 shares of the company’s stock valued at $93,514,000 after buying an additional 84,373 shares in the last quarter. PFM Health Sciences LP lifted its stake in Arcellx by 39.5% in the 4th quarter. PFM Health Sciences LP now owns 335,198 shares of the company’s stock valued at $18,603,000 after buying an additional 94,860 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Arcellx by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 264,178 shares of the company’s stock valued at $14,662,000 after buying an additional 3,722 shares in the last quarter. 96.03% of the stock is owned by hedge funds and other institutional investors.

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).