Kavita Patel Sells Shares of Arcellx, Inc.

On February 25th, Kavita Patel, a Director at Arcellx, Inc. (NASDAQ:ACLX), sold 1,500 shares of the company's stock. This sale was executed at an average price of $63.16 per share, totaling $94,740.00. The details of this transaction were made public through a filing with the Securities and Exchange Commission (SEC).

In addition to the recent sale, Kavita Patel has completed other transactions involving Arcellx shares:

• On February 4th, 1,500 shares were sold at an average price of $64.57, amounting to $96,855.00.
• On January 14th, she sold 1,500 shares at an average price of $65.87, for a total of $98,805.00.
• On December 24th, the sale consisted of 1,500 shares at an average price of $76.97, totaling $115,455.00.
• Lastly, on December 3rd, 1,500 shares were sold at an average price of $91.88 which amounted to $137,820.00.

Current Stock Performance

The stock price of Arcellx recently dipped by 0.6%, settling at $62.65 during trading on Tuesday. The day's trading volume was 689,845 shares, surpassing the average volume of 638,090 shares. The stock has recorded a 52-week low of $47.88 and a high of $107.37. Currently, the company's 50-day moving average stands at $69.31, while the 200-day moving average is $77.56. Arcellx has a market capitalization of approximately $3.39 billion, with a PE ratio of -88.24 and a beta of 0.29.

Analyst Ratings

Arcellx has received various ratings from analysts. Barclays upgraded the stock to a "strong-buy" rating on November 29th. Morgan Stanley raised its price target from $81.00 to $106.00, giving the stock an "overweight" rating. On November 12th, Truist Financial increased its target price from $87.00 to $136.00, maintaining a "buy" rating. Bank of America also raised its price target from $84.00 to $100.00 and gave a "buy" to the stock. Piper Sandler followed suit by increasing its target price from $91.00 to $115.00, assigning an "overweight" rating. Thirteen analysts currently suggest buying the stock, while two consider it a strong buy, leading to a consensus rating of "Buy" and an average price target of $105.93 as per MarketBeat data.

Institutional Investment Activity

Recent adjustments in institutional holdings are noteworthy. GF Fund Management CO. LTD. acquired a new stake in Arcellx valued at $87,000 during the fourth quarter. Voloridge Investment Management LLC increased its position by 5.3%, owning 178,198 shares worth $13,666,000 after acquiring additional shares. Woodline Partners LP also increased its stake by 13.2%, owning 125,649 shares valued at $9,636,000. Similarly, Soleus Capital Management L.P. raised its holdings by 30.1%, possessing 121,031 shares valued at $9,282,000 post-acquisition. Lastly, Two Sigma Advisers LP boosted its stake by 24.4%, owning 5,600 shares worth $429,000. Institutional investors and hedge funds now own approximately 96.03% of Arcellx stock.

About Arcellx, Inc.

Arcellx, Inc., along with its subsidiary, focuses on developing innovative immunotherapies aimed at treating cancer and other serious diseases in the United States. Its lead product candidate, anitocabtagene autoleucel, is currently in a phase 2 clinical trial targeting patients with relapsed or refractory multiple myeloma (rrMM).

Arcellx, Stock, Transaction