Christopher Heary, President medical (TASE:) Administrator of Arcellx, Inc. (NASDAQ:ACLX), a biotechnology company with a market cap of $3.74 billion and currently trading near $69 per share, recently announced the sale of company stock for a total of $581,315. according to InvestingPro According to the analysis, the stock fell by 12.7% over the past week. The trades were executed over two days, with 4,230 shares sold on January 7, 2025, at an average price of $75.53 per share, followed by a sale of 3,553 shares on January 8, 2025, at an average price of $73.69 per share. . These sales were made to satisfy tax withholding obligations related to the vesting of restricted stock units. Following these transactions, Heery retains direct ownership of 25,085 shares of Arcellx common stock. The company maintains a strong financial position with more cash than debt and a healthy current ratio of 4.29. Want deeper insights into insider trading patterns and 10+ additional ProTips? Find out more with InvestingPro.
In other recent news, Arcellx Inc. A series of positive developments, as many investment companies maintained or upgraded their ratings and adjusted their price targets for the company. Stifel, TD Cowen, BofA Securities and Truist Securities all maintained buy ratings, highlighting the potential of Arcellx's Anito-cel treatment. The companies cited treatment efficacy, safety profile and manufacturing capabilities as key factors in their positive evaluations.
Piper Sandler also maintained an Overweight rating on Arcellx, raising its price target following the company's third-quarter 2024 earnings report. The company expressed optimism about the upcoming full release of data from anito-cel's iMMagine-1 study at the American Society of Hematology meeting .
Arcellx's recent earnings announcement and anticipation surrounding iMMagine-1 study data contributed to the revised price targets. Truist Securities also noted the company's financial position, with cash and cash equivalents standing at $677 million. These latest developments underscore the growing market confidence in Arcellx and its anito-cel treatment.
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