Arcelex Chief Medical Officer Sells $581,315 worth of Shares By Investing.com

Christopher Herry, Chief Treatment (TASE:) Arcellx, Inc. Officer (NASDAQ: ACLX ), a biotech company with a market capitalization of $3.74 billion, currently trades at about $69 per share, and recently reported the sale of $581,315 worth of company shares. As he says Invest Pro Analysis, the stock fell 12.7% in the last week. The transactions took place over two days, with a sale of 4,230 shares on January 7, 2025 at an average price of $75.53 and 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 associated with the exercise of restricted stock units. Following these transactions, Herry will retain direct ownership of 25,085 shares of Arcelex common stock. The company maintains a strong financial position with more cash than debt and a healthy current ratio of 4.29. Looking for deep insights into insider trading patterns and 10+ more ProTips? Find out more Invest Pro.

In other recent news, Arcelx Inc has seen a series of positive developments with several investment firms maintaining or upgrading their ratings and revising the company’s price target. Stifel, TD Cowen, BofA Securities and Trust Securities all issued buy ratings, indicating the potential of Arcelex Anito-Cell Therapy. The companies cited the therapy’s efficacy, safety profile and manufacturing capabilities as key factors in their positive reviews.

Piper Sandler also maintained an overweight rating on Arcellx and raised its price target following the company’s third quarter 2024 earnings report. At the American Society of Hematology meeting, the company expressed anticipation for the upcoming full data release from the iMMagine-1 study for Anito-Cell.

Arcelex’s recent earnings announcement and speculation surrounding iMMagine-1 research data contributed to revised price targets. The company’s financial position, which has $677 million in cash and cash equivalents, was also reviewed by Trust Securities. These recent developments highlight the growing market confidence in Arcellx and its Anito-Cell treatment.

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