Arcellx, Inc. (NASDAQ:ACLX) Short Interest Up 10.3% in June

Arcellx, Inc. (NASDAQ:ACLX) saw a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 4,810,000 shares, a growth of 10.3% from the May 31st total of 4,360,000 shares. Based on an average trading volume of 464,200 shares, the days-to-cover ratio is currently 10.4 days. Approximately 12.0% of the company’s stock are sold short.

Arcellx Stock Down 2.9 %

Shares of ACLX opened at $53.60 on Tuesday. Arcellx has a 52-week low of $30.74 and a 52-week high of $75.10. The company has a 50-day simple moving average of $52.85 and a 200-day simple moving average of $58.35. The company has a market capitalization of $2.87 billion, a PE ratio of -52.04 and a beta of 0.23.

Arcellx (NASDAQ:ACLX) last issued its earnings results on Thursday, May 9th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.37. The company had revenue of $39.26 million during the quarter, compared to analysts’ expectations of $20.67 million. Arcellx had a negative net margin of 38.39% and a negative return on equity of 13.11%. The firm’s quarterly revenue was up 119.2% compared to the same quarter last year. During the same period last year, the company posted ($0.58) earnings per share. On average, research analysts anticipate that Arcellx will post -1.7 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on ACLX shares. Evercore ISI initiated coverage on shares of Arcellx in a research report on Tuesday, May 14th. They issued an “outperform” rating and a $85.00 target price on the stock. Scotiabank reaffirmed an “outperform” rating and set a $82.00 price objective on shares of Arcellx in a report on Thursday, April 4th. Stifel Nicolaus boosted their target price on Arcellx from $82.00 to $83.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. HC Wainwright dropped their price target on Arcellx from $82.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, May 13th. Finally, Truist Financial reiterated a “buy” rating and issued a $87.00 price objective on shares of Arcellx in a research note on Tuesday, June 18th. Thirteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Arcellx currently has a consensus rating of “Buy” and an average target price of $78.00.

Insider Buying and Selling

In other Arcellx news, Director Olivia C. Ware sold 9,402 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $55.55, for a total value of $522,281.10. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Director Olivia C. Ware sold 9,402 shares of the company’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $55.55, for a total transaction of $522,281.10. 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 10,000 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $54.27, for a total value of $542,700.00. The disclosure for this sale can be found here. Insiders sold 82,568 shares of company stock worth $4,406,295 over the last 90 days. 6.24% of the stock is owned by insiders.

Hedge Funds Weigh In On Arcellx

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Perceptive Advisors LLC increased its position in shares of Arcellx by 14.6% in the fourth quarter. Perceptive Advisors LLC now owns 4,544,809 shares of the company’s stock valued at $252,237,000 after buying an additional 578,831 shares in the last quarter. Vanguard Group Inc. raised its position in Arcellx by 8.1% during the first quarter. Vanguard Group Inc. now owns 2,228,856 shares of the company’s stock worth $155,017,000 after acquiring an additional 167,037 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Arcellx by 6.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,344,553 shares of the company’s stock valued at $93,514,000 after purchasing an additional 84,373 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its position in shares of Arcellx by 5.4% in the third quarter. Adage Capital Partners GP L.L.C. now owns 392,904 shares of the company’s stock valued at $14,097,000 after purchasing an additional 20,000 shares during the last quarter. Finally, PFM Health Sciences LP grew its position in shares of Arcellx by 39.5% in the fourth quarter. PFM Health Sciences LP now owns 335,198 shares of the company’s stock valued at $18,603,000 after purchasing an additional 94,860 shares during the last quarter. 96.03% of the stock is owned by institutional investors and hedge funds.

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).