Arcellx chief medical officer sells $647,772 in stock

Christopher Heery, the Chief Medical (TASE:BLWV) Officer of Arcellx , Inc. (NASDAQ:ACLX), a $3.53 billion market cap biotech company, recently sold shares of the company’s common stock valued at approximately $647,772. The transactions, disclosed in a Form 4 filing with the Securities and Exchange Commission, took place on February 24, 2025. According to InvestingPro analysis, the company maintains a GOOD financial health score despite not yet achieving profitability.

According to the filing, Heery sold a total of 10,155 shares in multiple transactions. The shares were sold at prices ranging from $63.1391 to $64.8778 per share. These sales were part of a broker-assisted transaction to cover tax withholding obligations related to the vesting of restricted stock units. The current stock price of $63.01 sits well above its 52-week low of $47.88, though significantly below analysts’ consensus target range of $104-$134.

Following these transactions, Heery’s direct ownership of Arcellx shares stands at 37,486. This activity comes after Heery acquired 22,556 shares on February 7, 2025, through the vesting of restricted stock units, though these were not part of a traditional purchase as the transaction price was recorded at $0.

Investors will be watching closely to see how these insider transactions might reflect on Arcellx’s stock performance in the coming months.

In other recent news, Arcellx Inc. has been the focus of several analyst updates following the release of pivotal data for its developmental therapy, anito-cel, aimed at treating relapsed/refractory multiple myeloma. BofA Securities increased its price target for Arcellx to $112, citing the competitive profile of anito-cel against Carvykti, with advantages in manufacturing success rates and safety profile. Stifel maintained its Buy rating with a $122 price target, emphasizing the potential for anito-cel to capture a significant market share, especially after favorable data presented at the American Society of Hematology 2024 meeting. TD Cowen also reiterated a Buy rating, highlighting anito-cel’s comparable efficacy to Carvykti but with a better safety profile, particularly regarding neurotoxicity and cytokine release syndrome.

Analysts from these firms suggest that Arcellx’s anito-cel could become a leading therapy in the multiple myeloma market, given its impressive overall response rate and complete response rate in trials. The recent data has shown that anito-cel maintains a strong safety profile, with no signs of Parkinsonism or cranial nerve palsies, which is a favorable comparison to cilta-cel’s safety profile. As more follow-up data becomes available, analysts believe it could bolster confidence in anito-cel’s safety and efficacy, potentially driving the stock’s value higher. The market is closely watching Arcellx’s manufacturing capabilities, which are described as superior, potentially giving the company a competitive edge. These developments have led to positive assessments from various analyst firms, suggesting a promising outlook for Arcellx’s position in the industry.

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