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Monitoring Arcellx Inc (ACLX) after recent insider movements

In a filing, Arcellx Inc revealed its CHIEF MEDICAL OFFICER Heery Christopher unloaded Company’s shares for reported $0.93 million on May 01 ’24. In the deal valued at $51.33 per share,18,168 shares were sold. As a result of this transaction, Heery Christopher now holds 8,938 shares worth roughly $0.44 million.

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Then, Ware Olivia C sold 9,402 shares, generating $522,260 in total proceeds. Upon selling the shares at $55.55, the Director now owns 0 shares.

Before that, Elghandour Rami sold 23,086 shares. Arcellx Inc shares valued at $1,548,887 were divested by the insider at a price of $67.09 per share. As a result of the transaction, Elghandour Rami now holds 69,253 shares, worth roughly $3.44 million.

Morgan Stanley initiated its Arcellx Inc [ACLX] rating to an Overweight in a research note published on March 07, 2024; the price target was $81. A number of analysts have revised their coverage, including Needham’s analysts, who remained covering the stock and in early January has reiterated a ‘”a Buy”‘ rating for it. Scotiabank began covering ACLX with “Sector outperform” recommendation on December 19, 2023. TD Cowen started covering the stock on October 30, 2023. It rated ACLX as “an Outperform”.

Price Performance Review of ACLX

On Friday, Arcellx Inc [NASDAQ:ACLX] saw its stock fall -5.67% to $49.74. Over the last five days, the stock has lost -5.60%. Arcellx Inc shares have fallen nearly -10.38% since the year began. Nevertheless, the stocks have risen 6.07% over the past one year. While a 52-week high of $75.10 was reached on 03/07/24, a 52-week low of $30.74 was recorded on 05/10/24. SMA at 50 days reached $61.52, while 200 days put it at $49.93. A total of 0.9 million shares were traded, compared to the trading of 0.38 million shares in the previous session.

Levels Of Support And Resistance For ACLX Stock

The 24-hour chart illustrates a support level at 47.50, which if violated will result in even more drops to 45.27. On the upside, there is a resistance level at 52.35. A further resistance level may holdings at 54.97. The Relative Strength Index (RSI) on the 14-day chart is 32.77, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.55, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 76.92%. Stochastics %K at 37.73% indicates the stock is a holding.

The most recent change occurred on October 17, 2023 when UBS began covering the stock and recommended ‘”a Buy”‘ rating along with a $52 price target.

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