Arcellx, Inc. (NASDAQ:ACLX) is HighVista Strategies LLC’s 4th Largest Position

HighVista Strategies LLC increased its stake in shares of Arcellx, Inc. (NASDAQ:ACLX) by 8.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 55,139 shares of the company’s stock after buying an additional 4,099 shares during the quarter. Arcellx comprises 1.6% of HighVista Strategies LLC’s holdings, making the stock its 4th largest position. HighVista Strategies LLC owned 0.10% of Arcellx worth $4,605,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ACLX. Quest Partners LLC purchased a new stake in shares of Arcellx in the 2nd quarter valued at approximately $27,000. Decheng Capital LLC acquired a new stake in Arcellx during the second quarter worth $65,000. National Bank of Canada FI raised its position in Arcellx by 50.0% in the second quarter. National Bank of Canada FI now owns 1,500 shares of the company’s stock valued at $80,000 after purchasing an additional 500 shares during the period. Covestor Ltd lifted its stake in shares of Arcellx by 53,766.7% in the 3rd quarter. Covestor Ltd now owns 1,616 shares of the company’s stock valued at $135,000 after purchasing an additional 1,613 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Arcellx by 21.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,944 shares of the company’s stock valued at $161,000 after purchasing an additional 347 shares during the last quarter. Institutional investors and hedge funds own 96.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ACLX. Cantor Fitzgerald restated an “overweight” rating on shares of Arcellx in a report on Monday, September 9th. Piper Sandler upped their price objective on shares of Arcellx from $91.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. HC Wainwright increased their price objective on shares of Arcellx from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Truist Financial boosted their target price on Arcellx from $87.00 to $136.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, Morgan Stanley raised their price target on Arcellx from $81.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Thirteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $103.08.

Arcellx Price Performance

ACLX opened at $95.72 on Tuesday. The business has a fifty day moving average price of $88.27 and a 200 day moving average price of $70.66. Arcellx, Inc. has a 12 month low of $46.42 and a 12 month high of $107.37. The stock has a market capitalization of $5.18 billion, a price-to-earnings ratio of -134.82 and a beta of 0.27.

Arcellx (NASDAQ:ACLX) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.48) EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.06. The business had revenue of $26.03 million during the quarter, compared to the consensus estimate of $35.21 million. Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. On average, research analysts anticipate that Arcellx, Inc. will post -1.49 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Christopher Heery sold 3,421 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $70.02, for a total transaction of $239,538.42. Following the sale, the insider now owns 9,278 shares of the company’s stock, valued at approximately $649,645.56. This trade represents a 26.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kavita Patel sold 15,238 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $105.92, for a total value of $1,614,008.96. The disclosure for this sale can be found here. Insiders sold 70,422 shares of company stock worth $6,781,726 in the last 90 days. Corporate insiders own 6.24% of the company’s stock.

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).