Michelle Gilson, CFO of the company, sold 8,704 stock shares in a deal that took place on Wednesday May 24th. The shares were purchased at an average of $42.46 for a transaction totaling $369,571.84. After the completion of the deal, the chief executive officer now holds 15,485 shares valued at $657.493.10. This link will take you to a page that contains more information.
Arcellx Price Performance
On Thursday, the stock fell $0.18 to $42.82. Stock traded at 276,152 shares compared to the average of 477,050. Arcellx, Inc.'s 52-week low is $9.44, and its 52-week highest is $48.92. The debt-to equity ratio is 0.05. There are three ratios: quick, current and current/quick. The company's market capitalization is $2.05 billion. It has a price to earnings ratio of -9.87, and a beta value of -0.33. The company last announced its earnings on March 29th. The company reported ($0.76) in earnings per share for the third quarter, falling short of the consensus estimate ($0.71) ($0.05). Analysts expect Arcellx, Inc. to post a -1.2 EPS in the current year.
Arcellx: hedge funds weigh in
A number of institutional shareholders have recently changed their positions on the stock. Putnam Investments LLC has increased its shares of Arcellx holdings by 176.6% during the first quarter. Putnam Investments LLC owns 53 669 shares worth $1 654,000, after purchasing an additional 34 266 shares in the last quarter. Perceptive Advisors LLC increased their holdings of Arcellx shares by 47.9% during the first quarter. Perceptive Advisors LLC owns now 3,841,739 of the company’s stock valued at $118,364,000, after purchasing an additional 1,243 434 shares in the last quarter. Susquehanna International Group LLP has increased its holdings of shares of Arcellx in the first quarter by 78.1%. Susquehanna International Group LLP owns 57 457 shares worth $1 770,000, after purchasing an additional 25 194 shares in the last quarter. Jane Street Group LLC acquired a new stake in Arcellx shares during the first quarter, valued at $499,000. State Street Corp increased its holdings of Arcellx shares by 16.0% in the first quarter. State Street Corp owns now 1,874,456 of the company’s stock, valued at $57,752,000. This is after buying an additional 258,365 during the last quarter. Institutional investors hold 91.78% the company's shares.
Analyst Ratings Changes
ACLX has been the subject of several research analyst's opinions. Barclays raised their target price for shares of Arcellx to $49.00 in a research report on Tuesday, 9th May. The company was also given an 'overweight rating'. In a research report published on Tuesday, 9th May, HC Wainwright raised their target price for shares of Arcellx to $49.00 from $40.00. Stifel Nicolaus began covering shares of Arcellx on Monday, March 13. They gave the stock a 'buy rating' and set a target price of $43.00. Robert W. Baird began covering shares of Arcellx on Thursday, 14th April in a research report. The stock was given an 'outperform rating' and a target price of $39.00. Canaccord Genuity Group raised their price target for shares of Arcellx to $40.00 in a research report on Wednesday, April 19. They also gave the company a "buy" rating. Eleven analysts have given the stock a buy recommendation. According to MarketBeat data, Arcellx currently has a consensus ratings of 'Buy,' with an average price target of $50.38.
Arcellx Company profile
Arcellx, Inc., a biotechnology company in clinical stages, develops immunotherapies to treat cancer patients and other incurable illnesses. The company's leading ddCAR candidate is CART - ddBCMA. This product is currently in phase 1 of a clinical trial to treat patients with relapsed (r/r), or refractory multiple myeloma.
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