HC Wainwright Reaffirms “Buy” Rating for Arcellx (NASDAQ:ACLX)

Arcellx (NASDAQ:ACLX)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a research report issued on Wednesday,Benzinga reports. They currently have a $115.00 price target on the stock. HC Wainwright’s price target would suggest a potential upside of 71.80% from the company’s previous close.

ACLX has been the subject of a number of other reports. Stifel Nicolaus set a $129.00 target price on Arcellx and gave the stock a “buy” rating in a research note on Thursday, October 16th. Citigroup reaffirmed a “buy” rating on shares of Arcellx in a report on Monday, November 24th. Wolfe Research started coverage on Arcellx in a report on Tuesday, November 18th. They issued a “peer perform” rating for the company. Guggenheim restated a “buy” rating on shares of Arcellx in a research report on Monday, November 24th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $130.00 price target on shares of Arcellx in a report on Monday, December 8th. Nine analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Arcellx currently has a consensus rating of “Moderate Buy” and an average target price of $112.22.

Arcellx Stock Performance

ACLX stock opened at $66.94 on Wednesday. The stock has a market capitalization of $3.87 billion, a PE ratio of -17.03 and a beta of 0.36. The company has a fifty day moving average of $67.67 and a 200-day moving average of $74.91. Arcellx has a one year low of $47.86 and a one year high of $94.07.

Arcellx (NASDAQ:ACLX) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.96) by ($0.03). The firm had revenue of $4.95 million for the quarter, compared to analysts’ expectations of $11.24 million. Arcellx had a negative return on equity of 51.13% and a negative net margin of 607.01%. Equities analysts forecast that Arcellx will post -1.58 earnings per share for the current fiscal year.

Insider Activity at Arcellx

In related news, insider Christopher Heery sold 5,882 shares of the stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $68.51, for a total value of $402,975.82. Following the sale, the insider directly owned 23,749 shares of the company’s stock, valued at approximately $1,627,043.99. This represents a 19.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have sold 19,790 shares of company stock valued at $1,314,077. 8.35% of the stock is owned by insiders.

Institutional Trading of Arcellx

Several large investors have recently modified their holdings of the business. Schroder Investment Management Group acquired a new position in shares of Arcellx in the second quarter valued at approximately $3,951,000. Pathway Capital Management LP acquired a new stake in Arcellx during the third quarter worth approximately $4,191,000. Y Intercept Hong Kong Ltd purchased a new stake in Arcellx in the 3rd quarter worth approximately $1,273,000. American Century Companies Inc. raised its holdings in Arcellx by 694.3% in the 2nd quarter. American Century Companies Inc. now owns 431,466 shares of the company’s stock valued at $28,412,000 after acquiring an additional 377,145 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in Arcellx by 7.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 3,428 shares of the company’s stock valued at $226,000 after acquiring an additional 228 shares during the last quarter. 96.03% of the stock is currently owned by institutional investors and hedge funds.

Arcellx Company Profile

Arcellx, Inc (NASDAQ: ACLX) is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of next-generation cell therapies for oncology and autoimmune diseases. The company’s proprietary ARC-SparX™ platform is designed to enable precise control over cell-surface receptor activation and to improve the safety, efficacy and durability of adoptive cell therapies. Leveraging this technology, Arcellx engineers immune cells with modular antigen-binding domains that can be exchanged to target a variety of disease-associated markers.

The company’s pipeline comprises multiple wholly owned programs in hematologic malignancies and solid tumors at various stages of preclinical and clinical development.