Affinity Asset Advisors LLC Sells 35,000 Shares of Arcellx, Inc. $ACLX

Affinity Asset Advisors LLC trimmed its stake in shares of Arcellx, Inc. (NASDAQ:ACLX) by 6.6% during the second quarter, Holdings Channel reports. The institutional investor owned 495,000 shares of the company’s stock after selling 35,000 shares during the period. Arcellx makes up about 4.5% of Affinity Asset Advisors LLC’s holdings, making the stock its 4th largest position. Affinity Asset Advisors LLC’s holdings in Arcellx were worth $32,596,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Teacher Retirement System of Texas boosted its holdings in shares of Arcellx by 1.7% in the second quarter. Teacher Retirement System of Texas now owns 8,883 shares of the company’s stock valued at $585,000 after acquiring an additional 151 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in Arcellx by 7.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 3,428 shares of the company’s stock worth $226,000 after purchasing an additional 228 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Arcellx by 15.8% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,129 shares of the company’s stock valued at $140,000 after purchasing an additional 290 shares in the last quarter. E Fund Management Co. Ltd. boosted its stake in Arcellx by 8.3% during the 1st quarter. E Fund Management Co. Ltd. now owns 5,468 shares of the company’s stock valued at $359,000 after purchasing an additional 419 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Arcellx by 183.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 751 shares of the company’s stock valued at $49,000 after purchasing an additional 486 shares during the period. 96.03% of the stock is owned by institutional investors and hedge funds.

Arcellx Stock Up 1.6%

Shares of Arcellx stock opened at $69.56 on Friday. Arcellx, Inc. has a 12-month low of $47.86 and a 12-month high of $94.07. The firm has a market capitalization of $4.02 billion, a PE ratio of -17.70 and a beta of 0.34. The stock’s fifty day moving average is $83.90 and its 200-day moving average is $74.38.

Arcellx (NASDAQ:ACLX) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($0.99) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.03). The company had revenue of $4.95 million during the quarter, compared to analyst estimates of $11.24 million. Arcellx had a negative net margin of 607.01% and a negative return on equity of 51.13%. Analysts expect that Arcellx, Inc. will post -1.58 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ACLX shares. Wolfe Research assumed coverage on Arcellx in a report on Tuesday, November 18th. They issued a “peer perform” rating for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcellx in a report on Wednesday, October 8th. Cantor Fitzgerald reissued a “neutral” rating and issued a $88.00 price target on shares of Arcellx in a report on Thursday, October 9th. Stifel Nicolaus set a $129.00 price objective on shares of Arcellx and gave the company a “buy” rating in a research report on Thursday, October 16th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Arcellx in a research note on Monday, November 24th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $115.50.

Insider Activity at Arcellx

In other news, insider Christopher Heery sold 21,034 shares of Arcellx stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $81.28, for a total value of $1,709,643.52. Following the transaction, the insider directly owned 624 shares of the company’s stock, valued at $50,718.72. This trade represents a 97.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 37,486 shares of company stock valued at $3,030,736 in the last ninety days. Company insiders own 8.35% of the company’s stock.

Arcellx 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).