Arcellx (NASDAQ:ACLX) Rating Lowered to “Neutral” at Rothschild & Co Redburn

Arcellx (NASDAQ:ACLX) was downgraded by research analysts at Rothschild & Co Redburn from a “buy” rating to a “neutral” rating in a note issued to investors on Thursday, MarketBeat.com reports. They presently have a $82.00 target price on the stock. Rothschild & Co Redburn’s price target suggests a potential upside of 19.71% from the company’s previous close.

A number of other analysts have also recently weighed in on ACLX. Needham & Company LLC restated a “buy” rating and issued a $105.00 price target on shares of Arcellx in a research note on Thursday, February 5th. Wells Fargo & Company assumed coverage on Arcellx in a research report on Monday, December 22nd. They set an “overweight” rating and a $100.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $115.00 price target on shares of Arcellx in a report on Wednesday, February 4th. Citigroup reissued a “buy” rating on shares of Arcellx in a report on Monday, November 24th. Finally, Guggenheim restated a “buy” rating on shares of Arcellx in a report on Monday, November 24th. Nine investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $109.20.

Arcellx Stock Down 0.2%

NASDAQ ACLX opened at $68.50 on Thursday. Arcellx has a 52 week low of $47.86 and a 52 week high of $94.07. The firm has a 50 day moving average of $67.44 and a two-hundred day moving average of $74.85. The stock has a market capitalization of $3.96 billion, a PE ratio of -17.43 and a beta of 0.36.

Insider Activity

In other news, insider Christopher Heery sold 7,437 shares of Arcellx stock in a transaction 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 transaction, the insider directly owned 29,631 shares of the company’s stock, valued at $1,941,126.81. The trade was a 20.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 19,790 shares of company stock worth $1,314,077 in the last 90 days. Company insiders own 8.35% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. MAI Capital Management purchased a new stake in Arcellx in the 3rd quarter valued at approximately $26,000. CWM LLC lifted its holdings in shares of Arcellx by 267.0% in the 3rd quarter. CWM LLC now owns 345 shares of the company’s stock valued at $28,000 after buying an additional 251 shares during the period. State of Wyoming purchased a new stake in shares of Arcellx in the second quarter valued at approximately $28,000. Ramirez Asset Management Inc. purchased a new stake in shares of Arcellx in the third quarter valued at approximately $41,000. Finally, Abich Financial Wealth Management LLC acquired a new position in Arcellx during the third quarter worth $62,000. 96.03% of the stock is owned by hedge funds and other institutional investors.

About Arcellx

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.