Arcellx, Inc. (NASDAQ:ACLX – Get Free Report) insider Christopher Heery sold 3,553 shares of Arcellx stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $73.69, for a total value of $261,820.57. Following the transaction, the insider now owns 25,085 shares of the company’s stock, valued at $1,848,513.65. This represents a 12.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Christopher Heery also recently made the following trade(s):
- On Monday, January 6th, Christopher Heery sold 3,061 shares of Arcellx stock. The shares were sold at an average price of $77.17, for a total value of $236,217.37.
- On Friday, January 3rd, Christopher Heery sold 3,301 shares of Arcellx stock. The shares were sold at an average price of $79.55, for a total value of $262,594.55.
Arcellx Trading Down 4.4 %
ACLX traded down $3.18 on Friday, reaching $69.08. The stock had a trading volume of 1,602,596 shares, compared to its average volume of 805,499. Arcellx, Inc. has a fifty-two week low of $47.88 and a fifty-two week high of $107.37. The firm has a 50-day moving average of $85.21 and a 200-day moving average of $75.59. The company has a market capitalization of $3.74 billion, a price-to-earnings ratio of -97.29 and a beta of 0.33.
Hedge Funds Weigh In On Arcellx
Institutional investors and hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. grew its position in shares of Arcellx by 1.4% in the 2nd quarter. Principal Financial Group Inc. now owns 37,352 shares of the company’s stock valued at $2,061,000 after buying an additional 517 shares during the last quarter. Rhumbline Advisers grew its position in shares of Arcellx by 14.3% in the 2nd quarter. Rhumbline Advisers now owns 60,570 shares of the company’s stock valued at $3,343,000 after buying an additional 7,568 shares during the last quarter. National Bank of Canada FI grew its position in shares of Arcellx by 50.0% in the 2nd quarter. National Bank of Canada FI now owns 1,500 shares of the company’s stock valued at $80,000 after buying an additional 500 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Arcellx by 20.4% in the 2nd quarter. Victory Capital Management Inc. now owns 283,872 shares of the company’s stock valued at $15,667,000 after buying an additional 48,006 shares during the last quarter. Finally, Arizona State Retirement System grew its position in shares of Arcellx by 14.0% in the 2nd quarter. Arizona State Retirement System now owns 8,950 shares of the company’s stock valued at $494,000 after buying an additional 1,101 shares during the last quarter. Institutional investors and hedge funds own 96.03% of the company’s stock.
Analysts Set New Price Targets
Several analysts recently issued reports on the company. UBS Group boosted their price target on Arcellx from $106.00 to $114.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Redburn Atlantic began coverage on Arcellx in a report on Tuesday, October 8th. They issued a “buy” rating and a $109.00 price objective for the company. Piper Sandler lifted their price objective on Arcellx from $91.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Barclays raised Arcellx to a “strong-buy” rating in a report on Friday, November 29th. Finally, Stifel Nicolaus lifted their price objective on Arcellx from $83.00 to $122.00 and gave the company a “buy” rating in a report on Friday, October 18th. Thirteen investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Arcellx has an average rating of “Buy” and an average target price of $105.93.
Check Out Our Latest Report on Arcellx
About Arcellx
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).
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