Arcellx, Inc. (NASDAQ:ACLX) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Arcellx, Inc. (NASDAQ:ACLX) have earned an average recommendation of “Moderate Buy” from the twelve analysts that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $112.2222.

A number of equities research analysts have recently issued reports on the stock. HC Wainwright reaffirmed a “buy” rating and set a $115.00 target price on shares of Arcellx in a report on Wednesday. Wells Fargo & Company started coverage on shares of Arcellx in a research note on Monday, December 22nd. They issued an “overweight” rating and a $100.00 target price on the stock. Citigroup reiterated a “buy” rating on shares of Arcellx in a report on Monday, November 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcellx in a research report on Wednesday, January 21st. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $130.00 target price on shares of Arcellx in a research report on Monday, December 8th.

Arcellx Price Performance

Shares of Arcellx stock opened at $68.03 on Friday. The stock has a market capitalization of $3.93 billion, a P/E ratio of -17.31 and a beta of 0.36. The business has a 50 day simple moving average of $67.58 and a two-hundred day simple moving average of $74.95. Arcellx has a 12 month low of $47.86 and a 12 month high of $94.07.

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

Insiders Place Their Bets

In other news, insider Christopher Heery sold 7,437 shares of the business’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $65.51, for a total value of $487,197.87. Following the sale, the insider directly owned 29,631 shares of the company’s stock, valued at approximately $1,941,126.81. The trade was a 20.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 19,790 shares of company stock worth $1,314,077 over the last ninety days. Company insiders own 8.35% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Decheng Capital LLC boosted its position in shares of Arcellx by 995.2% during the second quarter. Decheng Capital LLC now owns 547,609 shares of the company’s stock worth $36,060,000 after buying an additional 497,609 shares during the period. American Century Companies Inc. lifted its stake in Arcellx by 694.3% during the 2nd quarter. American Century Companies Inc. now owns 431,466 shares of the company’s stock worth $28,412,000 after acquiring an additional 377,145 shares in the last quarter. Vestal Point Capital LP boosted its holdings in Arcellx by 15.2% during the 2nd quarter. Vestal Point Capital LP now owns 2,750,000 shares of the company’s stock valued at $181,088,000 after acquiring an additional 362,280 shares during the period. JPMorgan Chase & Co. grew its position in Arcellx by 42.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 976,968 shares of the company’s stock valued at $64,333,000 after acquiring an additional 293,387 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Arcellx by 4.5% during the fourth quarter. Vanguard Group Inc. now owns 4,081,519 shares of the company’s stock worth $266,115,000 after purchasing an additional 174,432 shares during the period. 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.