FY2029 EPS Estimates for Arcellx Raised by Leerink Partnrs

Arcellx, Inc. (NASDAQ:ACLX) – Research analysts at Leerink Partnrs lifted their FY2029 earnings per share estimates for Arcellx in a report released on Friday, May 9th. Leerink Partnrs analyst D. Graybosch now expects that the company will post earnings of $5.00 per share for the year, up from their previous forecast of $4.65. The consensus estimate for Arcellx’s current full-year earnings is ($1.58) per share.

Arcellx (NASDAQ:ACLX) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.84) by ($0.29). Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. The firm had revenue of $8.13 million for the quarter, compared to the consensus estimate of $19.51 million.

Separately, Scotiabank lowered their price objective on Arcellx from $133.00 to $93.00 and set a “sector outperform” rating on the stock in a research note on Friday, May 9th. Thirteen investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $109.31.

Arcellx Trading Down 2.1%

ACLX stock opened at $58.25 on Monday. Arcellx has a 1-year low of $47.86 and a 1-year high of $107.37. The firm has a market cap of $3.21 billion, a P/E ratio of -82.04 and a beta of 0.34. The business’s 50 day moving average is $64.11 and its 200-day moving average is $72.42.

Insider Transactions at Arcellx

In other Arcellx news, insider Christopher Heery sold 10,155 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $63.79, for a total transaction of $647,787.45. Following the transaction, the insider now owns 37,486 shares of the company’s stock, valued at approximately $2,391,231.94. This represents a 21.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavita Patel sold 1,500 shares of the company’s stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $57.50, for a total value of $86,250.00. The disclosure for this sale can be found here. Insiders have sold 54,455 shares of company stock valued at $3,407,903 in the last three months. 6.24% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in Arcellx by 104.1% during the 1st quarter. GAMMA Investing LLC now owns 494 shares of the company’s stock worth $32,000 after buying an additional 252 shares in the last quarter. Headlands Technologies LLC acquired a new position in Arcellx during the 4th quarter worth $41,000. GF Fund Management CO. LTD. acquired a new position in Arcellx during the 4th quarter worth $87,000. Amalgamated Bank lifted its holdings in Arcellx by 12.0% during the 1st quarter. Amalgamated Bank now owns 1,508 shares of the company’s stock worth $99,000 after buying an additional 161 shares in the last quarter. Finally, KBC Group NV lifted its stake in shares of Arcellx by 37.3% in the 4th quarter. KBC Group NV now owns 1,388 shares of the company’s stock valued at $106,000 after purchasing an additional 377 shares during the period. Institutional investors and hedge funds own 96.03% of the company’s stock.

Arcellx Company Profile

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).