Arcellx, Inc. (NASDAQ:ACLX – Get Rating) major shareholder Scott D. Sandell sold 390 shares of Arcellx stock in a transaction on Friday, December 23rd. The shares were sold at an average price of $31.67, for a total value of $12,351.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.
Arcellx Trading Down 5.8 %
Arcellx stock traded down $1.82 during mid-day trading on Tuesday, hitting $29.62. The company's stock had a trading volume of 336,656 shares, compared to its average volume of 386,509. The company has a current ratio of 6.48, a quick ratio of 6.48 and a debt-to-equity ratio of 0.11. The stock's fifty day moving average is $23.56 and its two-hundred day moving average is $20.49. Arcellx, Inc. has a 1 year low of $6.03 and a 1 year high of $33.99. The firm has a market capitalization of $1.30 billion and a PE ratio of -0.67.
Get Arcellx alerts:Wall Street Analyst Weigh In
ACLX has been the topic of several research analyst reports. Canaccord Genuity Group boosted their price target on Arcellx from $32.00 to $34.00 in a research note on Monday, December 12th. SVB Leerink reduced their target price on Arcellx to $35.00 in a report on Thursday, November 24th. Piper Sandler increased their target price on Arcellx from $96.00 to $104.00 in a report on Friday, December 9th. Guggenheim started coverage on Arcellx in a research report on Monday, October 31st. They issued a "buy" rating and a $36.00 price target for the company. Finally, Needham & Company LLC upped their price target on Arcellx from $31.00 to $35.00 and gave the company a "buy" rating in a research report on Monday, December 12th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $43.88.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the company. Novo Holdings A S acquired a new position in Arcellx during the first quarter worth $56,317,000. Cormorant Asset Management LP raised its stake in shares of Arcellx by 99.9% in the third quarter. Cormorant Asset Management LP now owns 3,049,173 shares of the company's stock valued at $57,233,000 after acquiring an additional 1,524,173 shares in the last quarter. Perceptive Advisors LLC raised its stake in shares of Arcellx by 115.9% in the third quarter. Perceptive Advisors LLC now owns 2,465,405 shares of the company's stock valued at $46,276,000 after acquiring an additional 1,323,415 shares in the last quarter. BlackRock Inc. raised its stake in shares of Arcellx by 199.8% in the third quarter. BlackRock Inc. now owns 1,806,103 shares of the company's stock valued at $33,902,000 after acquiring an additional 1,203,592 shares in the last quarter. Finally, Citadel Advisors LLC raised its stake in shares of Arcellx by 34.1% in the second quarter. Citadel Advisors LLC now owns 1,769,400 shares of the company's stock valued at $31,333,000 after acquiring an additional 450,374 shares in the last quarter. 91.78% of the stock is currently owned by institutional investors and hedge funds.About Arcellx
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Arcellx, Inc, a clinical-stage biotechnology company, engages in the development of various immunotherapies for patients with cancer and other incurable diseases. The company's lead ddCAR product candidate is CART-ddBCMA, which is in phase 1 clinical trial for the treatment of patients with relapsed or refractory (r/r) multiple myeloma (MM).
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