Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Arcellx Inc shares valued at $92,949 were sold by Patel Kavita on Jul 30 ’24. At $61.97 per share, Patel Kavita sold 1,500 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
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Also, Heery Christopher sold 10,901 shares, netting a total of over 711,854 in proceeds. Following the sale of shares at $65.30 each, the insider now holds 9,278 shares.
Before that, Heery Christopher had sold 1,780 shares from its account. In a trade valued at $107,175, the CHIEF MEDICAL OFFICER traded Arcellx Inc shares for $60.21 each. Upon closing the transaction, the insider’s holdings decreased to 1,780 shares, worth approximately $0.54 million.
As published in their initiating research note from Piper Sandler on May 31, 2024, Arcellx Inc [ACLX] has been an Overweight and the price target has been revised to $70. Analysts at Morgan Stanley started covering the stock with ‘”an Overweight”‘ outlook in a report released in early March. As of January 04, 2024, Needham has reiterated its “Buy” rating for ACLX. Earlier on December 19, 2023, Scotiabank initiated its rating. Their recommendation was “a Sector outperform” for ACLX stock.
Analyzing ACLX Stock Performance
During the last five days, there has been a drop of approximately -6.44%. Over the course of the year, Arcellx Inc shares have jumped approximately 5.68%. Shares of the company reached a 52-week high of $75.10 on 03/07/24 and a 52-week low of $47.88 on 05/10/24. A 50-day SMA is recorded $56.55, while a 200-day SMA reached $55.86. Nevertheless, trading volume fell to 0.56 million shares from 0.25 million shares the previous day.
Support And Resistance Levels for Arcellx Inc (ACLX)
According to the 24-hour chart, there is a support level at 57.29, which, if violated, would cause prices to drop to 55.93. In the upper region, resistance lies at 60.99. The next price resistance is at 63.34. RSI (Relative Strength Index) is 46.05 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.09, which suggests the price will decrease in the coming days. Percent R is at 95.82%, indicating bearish price movement. Stochastics%K at holding indicates that the stock is to be held.
