Arcellx, Inc. (NASDAQ:ACLX) Receives $88.50 Average PT from Analysts

by · The Markets Daily

Arcellx, Inc. (NASDAQ:ACLX – Get Free Report) has been assigned a consensus rating of “Buy” from the fourteen analysts that are covering the firm, Marketbeat reports. Thirteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $89.75.

Several equities research analysts recently issued reports on ACLX shares. Stifel Nicolaus lifted their price objective on Arcellx from $83.00 to $122.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Needham & Company LLC reiterated a “buy” rating and set a $96.00 price target (up from $81.00) on shares of Arcellx in a research report on Friday, October 18th. Redburn Atlantic started coverage on Arcellx in a research note on Tuesday, October 8th. They issued a “buy” rating and a $109.00 price objective for the company. Canaccord Genuity Group lifted their target price on shares of Arcellx from $85.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcellx in a research report on Monday, September 9th.

Check Out Our Latest Report on Arcellx

Insider Activity

In related news, CFO Michelle Gilson sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $77.73, for a total value of $1,165,950.00. Following the transaction, the chief financial officer now directly owns 6,915 shares in the company, valued at approximately $537,502.95. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Arcellx news, Director Kavita Patel sold 1,500 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $74.41, for a total transaction of $111,615.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michelle Gilson sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $77.73, for a total transaction of $1,165,950.00. Following the completion of the sale, the chief financial officer now directly owns 6,915 shares in the company, valued at $537,502.95. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 70,556 shares of company stock valued at $5,033,845 in the last 90 days. Company insiders own 6.24% of the company’s stock.

Hedge Funds Weigh In On Arcellx

Hedge funds have recently made changes to their positions in the stock. Quest Partners LLC acquired a new position in Arcellx during the second quarter worth $27,000. Plato Investment Management Ltd acquired a new position in Arcellx during the 1st quarter worth about $51,000. Decheng Capital LLC purchased a new position in Arcellx during the 2nd quarter valued at about $65,000. National Bank of Canada FI grew its position in Arcellx by 50.0% in the 2nd quarter. National Bank of Canada FI now owns 1,500 shares of the company’s stock valued at $80,000 after acquiring an additional 500 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Arcellx by 21.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,944 shares of the company’s stock worth $161,000 after purchasing an additional 347 shares in the last quarter. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Arcellx Stock Performance

Arcellx stock opened at $84.99 on Tuesday. The stock has a market capitalization of $4.55 billion, a P/E ratio of -82.60 and a beta of 0.25. The company’s fifty day moving average price is $78.71 and its 200 day moving average price is $63.65. Arcellx has a 1 year low of $32.42 and a 1 year high of $97.54.

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