Arcellx, Inc. (NASDAQ:ACLX) Receives $78.00 Consensus PT from Analysts

by · The Markets Daily

Arcellx, Inc. (NASDAQ:ACLX – Get Free Report) has earned an average rating of “Buy” from the fifteen brokerages that are currently covering the company, Marketbeat.com reports. Fourteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $78.00.

A number of equities research analysts recently commented on ACLX shares. Needham & Company LLC reiterated a “buy” rating and issued a $81.00 price objective on shares of Arcellx in a report on Friday, August 9th. Canaccord Genuity Group reiterated a “buy” rating and issued a $85.00 price objective on shares of Arcellx in a report on Monday, July 22nd. Truist Financial reiterated a “buy” rating and issued a $87.00 price objective on shares of Arcellx in a report on Tuesday, June 18th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcellx in a report on Monday, September 9th.

Get Our Latest Report on ACLX

Insider Transactions at Arcellx

In other news, insider Christopher Heery sold 3,671 shares of the company’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $60.01, for a total transaction of $220,296.71. Following the completion of the transaction, the insider now directly owns 9,278 shares of the company’s stock, valued at $556,772.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Christopher Heery sold 3,671 shares of the company’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $60.01, for a total transaction of $220,296.71. Following the completion of the transaction, the insider now directly owns 9,278 shares of the company’s stock, valued at $556,772.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavita Patel sold 1,500 shares of the company’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $61.97, for a total value of $92,955.00. The disclosure for this sale can be found here. Insiders sold 86,628 shares of company stock valued at $6,009,342 over the last three months. Company insiders own 6.24% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Quest Partners LLC acquired a new position in Arcellx during the second quarter valued at approximately $27,000. National Bank of Canada FI boosted its position in Arcellx by 50.0% during the second quarter. National Bank of Canada FI now owns 1,500 shares of the company’s stock valued at $80,000 after purchasing an additional 500 shares during the last quarter. Principal Financial Group Inc. boosted its position in Arcellx by 1.4% during the second quarter. Principal Financial Group Inc. now owns 37,352 shares of the company’s stock valued at $2,061,000 after purchasing an additional 517 shares during the last quarter. Plato Investment Management Ltd acquired a new position in Arcellx during the first quarter valued at approximately $51,000. Finally, High Net Worth Advisory Group LLC boosted its position in Arcellx by 14.3% during the first quarter. High Net Worth Advisory Group LLC now owns 8,000 shares of the company’s stock valued at $556,000 after purchasing an additional 1,000 shares during the last quarter. 96.03% of the stock is owned by institutional investors and hedge funds.

Arcellx Stock Down 2.5 %

ACLX stock opened at $81.44 on Friday. The company has a market cap of $4.36 billion, a P/E ratio of -77.49 and a beta of 0.23. Arcellx has a twelve month low of $30.88 and a twelve month high of $88.66. The business has a fifty day moving average of $68.81 and a 200-day moving average of $61.22.

Arcellx (NASDAQ:ACLX – Get Free Report) last released its earnings results on Thursday, August 8th. The company reported ($0.51) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.01. The company had revenue of $27.38 million during the quarter, compared to the consensus estimate of $22.04 million. Arcellx had a negative return on equity of 12.42% and a negative net margin of 37.23%. The business’s revenue was up 91.5% on a year-over-year basis. As a group, equities research analysts anticipate that Arcellx will post -1.65 earnings per share for the current fiscal year.

About Arcellx

(Get Free Report

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).

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