Arcellx, Inc. Director Kavita Patel Sells Shares

On February 25th, Kavita Patel, a director at Arcellx, Inc. (NASDAQ:ACLX), sold 1,500 shares of the company’s stock. The shares were sold at an average price of $63.16, resulting in a total transaction value of $94,740.00. This sale was officially reported in a filing with the Securities and Exchange Commission (SEC) and can be reviewed in the filing documents.

In addition to the recent sale, Kavita Patel has completed several other transactions involving Arcellx shares in the past few months:

• On February 4th, Patel sold 1,500 shares at an average price of $64.57, yielding a total of $96,855.00.
• On January 14th, another 1,500 shares were sold at an average price of $65.87, with a total transaction value of $98,805.00.
• On December 24th, she sold 1,500 shares at an average price of $76.97 for a total of $115,455.00.
• Lastly, on December 3rd, another transaction involved the sale of 1,500 shares at an average price of $91.88, equating to $137,820.00.

Current stock performance

On the same day as Patel's latest sale, Arcellx stock experienced a minor decline of 0.6%, trading at $62.65. The trading volume was noted at 689,845 shares, surpassing the average volume of 638,090. Over the past year, Arcellx has seen a low of $47.88 and a high of $107.37. Its fifty-day moving average stands at $69.31, while the 200-day moving average is at $77.56. The market capitalization of the company is approximately $3.39 billion, with a P/E ratio of -88.24 and a beta of 0.29.

Analyst Evaluations

Analysts have provided various ratings and price targets for Arcellx. Barclays upgraded the stock to a "strong-buy" rating on November 29th, while Morgan Stanley raised their price objective from $81.00 to $106.00, also assigning an "overweight" rating on November 6th. Truist Financial has increased its target price from $87.00 to $136.00, giving it a