Analysts Set Arcellx, Inc. (NASDAQ:ACLX) PT at $115.71

Arcellx, Inc. (NASDAQ:ACLX) has been given a consensus rating of “Moderate Buy” by the eleven research firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $113.75.

A number of research analysts have recently issued reports on ACLX shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcellx in a report on Wednesday, October 8th. Wolfe Research initiated coverage on shares of Arcellx in a research report on Tuesday, November 18th. They issued a “peer perform” rating on the stock. Canaccord Genuity Group restated a “buy” rating and set a $130.00 price objective on shares of Arcellx in a research report on Monday, December 8th. Needham & Company LLC restated a “buy” rating and issued a $105.00 target price on shares of Arcellx in a research note on Monday, December 8th. Finally, Wells Fargo & Company started coverage on shares of Arcellx in a report on Monday. They issued an “overweight” rating and a $100.00 target price on the stock.

Arcellx Stock Performance

Shares of ACLX opened at $65.18 on Friday. Arcellx has a fifty-two week low of $47.86 and a fifty-two week high of $94.07. The firm has a 50-day simple moving average of $80.38 and a 200-day simple moving average of $74.91. The company has a market capitalization of $3.77 billion, a price-to-earnings ratio of -16.59 and a beta of 0.34.

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 the consensus estimate of ($0.96) by ($0.03). Arcellx had a negative net margin of 607.01% and a negative return on equity of 51.13%. The company had revenue of $4.95 million during the quarter, compared to analyst estimates of $11.24 million. Equities research analysts forecast that Arcellx will post -1.58 EPS for the current year.

Insiders Place Their Bets

In other Arcellx news, insider Christopher Heery sold 340 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $90.00, for a total transaction of $30,600.00. Following the transaction, the insider owned 284 shares in the company, valued at approximately $25,560. The trade was a 54.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders sold 33,843 shares of company stock valued at $2,739,263. 8.35% of the stock is currently owned by insiders.

Institutional Trading of Arcellx

Several hedge funds have recently modified their holdings of ACLX. Schroder Investment Management Group purchased a new stake in Arcellx during the second quarter worth $3,951,000. Rhumbline Advisers increased its position in shares of Arcellx by 6.4% in the first quarter. Rhumbline Advisers now owns 63,751 shares of the company’s stock valued at $4,182,000 after buying an additional 3,848 shares in the last quarter. Strs Ohio purchased a new position in shares of Arcellx in the first quarter valued at $938,000. Voya Investment Management LLC raised its stake in shares of Arcellx by 103.4% during the 1st quarter. Voya Investment Management LLC now owns 277,102 shares of the company’s stock worth $18,178,000 after buying an additional 140,899 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Arcellx by 694.3% in the 2nd quarter. American Century Companies Inc. now owns 431,466 shares of the company’s stock worth $28,412,000 after buying an additional 377,145 shares in the last quarter. 96.03% of the stock is owned by institutional investors and hedge funds.

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.