Arcellx, Inc. (NASDAQ:ACLX) Short Interest Up 6.9% in April

Arcellx, Inc. (NASDAQ:ACLX) was the target of a large growth in short interest in April. As of April 15th, there was short interest totalling 4,030,000 shares, a growth of 6.9% from the March 31st total of 3,770,000 shares. Currently, 10.1% of the shares of the stock are short sold. Based on an average trading volume of 459,700 shares, the short-interest ratio is currently 8.8 days.

Arcellx Trading Up 4.3 %

ACLX opened at $52.18 on Thursday. Arcellx has a 12-month low of $30.74 and a 12-month high of $75.10. The business’s fifty day simple moving average is $63.35 and its 200-day simple moving average is $56.06. The company has a market capitalization of $2.78 billion, a price-to-earnings ratio of -35.50 and a beta of 0.02.

Arcellx (NASDAQ:ACLX) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.95. Arcellx had a negative return on equity of 20.96% and a negative net margin of 64.08%. The business had revenue of $63.15 million for the quarter, compared to the consensus estimate of $20.07 million. During the same quarter in the prior year, the company earned ($0.76) EPS. On average, equities research analysts predict that Arcellx will post -1.69 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ACLX. Needham & Company LLC reissued a “buy” rating and set a $81.00 target price on shares of Arcellx in a research report on Thursday, April 11th. Truist Financial boosted their target price on Arcellx from $57.00 to $87.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Barclays boosted their target price on Arcellx from $62.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Scotiabank reaffirmed an “outperform” rating and issued a $82.00 price objective on shares of Arcellx in a research report on Thursday, April 4th. Finally, Canaccord Genuity Group upped their price objective on Arcellx from $66.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat, Arcellx has an average rating of “Buy” and a consensus price target of $75.64.

Insider Transactions at Arcellx

In other news, insider Christopher Heery sold 2,967 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $64.46, for a total transaction of $191,252.82. Following the sale, the insider now directly owns 30,303 shares of the company’s stock, valued at approximately $1,953,331.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Jill Carroll sold 504,263 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $70.55, for a total transaction of $35,575,754.65. Following the transaction, the director now owns 1,479,148 shares of the company’s stock, valued at approximately $104,353,891.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Christopher Heery sold 2,967 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $64.46, for a total value of $191,252.82. Following the transaction, the insider now directly owns 30,303 shares in the company, valued at approximately $1,953,331.38. The disclosure for this sale can be found here. Insiders have sold 605,814 shares of company stock valued at $42,439,893 in the last ninety days. Corporate insiders own 6.24% of the company’s stock.

Hedge Funds Weigh In On Arcellx

A number of hedge funds and other institutional investors have recently made changes to their positions in ACLX. SG Americas Securities LLC purchased a new stake in shares of Arcellx during the 3rd quarter worth $612,000. Strs Ohio lifted its stake in shares of Arcellx by 375.5% during the 3rd quarter. Strs Ohio now owns 29,481 shares of the company’s stock worth $1,057,000 after purchasing an additional 23,281 shares during the last quarter. TD Asset Management Inc lifted its stake in shares of Arcellx by 183.3% during the 3rd quarter. TD Asset Management Inc now owns 81,600 shares of the company’s stock worth $2,928,000 after purchasing an additional 52,800 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of Arcellx by 98.4% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,248 shares of the company’s stock worth $45,000 after purchasing an additional 619 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its stake in Arcellx by 26.1% in the third quarter. Teacher Retirement System of Texas now owns 8,186 shares of the company’s stock valued at $294,000 after buying an additional 1,696 shares during the last quarter. Institutional investors own 96.03% of the company’s stock.

About Arcellx

Arcellx, Inc, together with its subsidiary, engages in the development of various immunotherapies for patients with cancer and other incurable diseases in the United States. The company's lead ddCAR product candidate is anitocabtagene autoleucel, which is in phase 2 clinical trial for the treatment of patients with relapsed or refractory multiple myeloma (rrMM).