Bitcoin price today: slips below $113k, near 6-wk low despite Fed cut bets
Arcellx, Inc. (NASDAQ:ACLX), a biotechnology company with a market capitalization of $4.28 billion, recently reported that its President, CEO, and Chairman of the Board, Rami Elghandour, sold shares worth approximately $2.24 million. The transactions, disclosed in a recent SEC filing, took place on January 3 and January 6, 2025. According to InvestingPro data, the stock has shown strong momentum with a 38.57% gain over the past six months.
On January 3, Elghandour sold 14,857 shares at a weighted average price of $79.55 per share. Subsequently, on January 6, he sold an additional 13,776 shares at a weighted average price of $77.17 per share.
Following these sales, Elghandour's direct ownership in Arcellx stands at 149,176 shares. The sales were conducted to satisfy tax withholding obligations related to the vesting of restricted stock units.
These transactions are part of the routine financial activities of executives and are often closely watched by investors for insights into the executive’s confidence in the company's future performance.
In other recent news, Arcellx Inc. has been the subject of several analyst upgrades and positive evaluations. Stifel maintained its Buy rating on Arcellx, emphasizing the potential of the company's candidate, anito-cel, in the Multiple Myeloma market. Similarly, TD Cowen maintained a Buy rating, highlighting the potential of anito-cel treatment and Arcellx's superior manufacturing capabilities. BofA Securities increased its price target for Arcellx, reiterating a Buy rating, following the company's announcement of interim pivotal iMMagine-1 data for anito-cel. Truist Securities also raised its price target, retaining a Buy rating due to Arcellx's strong financial position and promising data for Anito-cel therapy. Lastly, Piper Sandler raised its price target for Arcellx following the company's third-quarter 2024 earnings report and anticipation of their upcoming ASH presentations. All these recent developments underscore the potential of Arcellx's anito-cel in the treatment of Multiple Myeloma.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.