Arcellx Target of Unusually Large Options Trading (NASDAQ:ACLX)

Arcellx, Inc. (NASDAQ:ACLX) was the recipient of unusually large options trading activity on Wednesday. Investors acquired 20,511 call options on the company. This represents an increase of 13,574% compared to the typical volume of 150 call options.

Arcellx Stock Up 6.1 %

Shares of NASDAQ:ACLX traded up $4.76 during midday trading on Wednesday, reaching $82.75. The company’s stock had a trading volume of 374,218 shares, compared to its average volume of 452,248. The firm has a 50 day moving average of $64.88 and a 200-day moving average of $60.32. The firm has a market capitalization of $4.43 billion, a P/E ratio of -75.72 and a beta of 0.23. Arcellx has a 12-month low of $30.88 and a 12-month high of $82.97.

Arcellx (NASDAQ:ACLX) last announced its quarterly earnings data 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. Arcellx had a negative net margin of 37.23% and a negative return on equity of 12.42%. The business had revenue of $27.38 million for the quarter, compared to analysts’ expectations of $22.04 million. The company’s revenue for the quarter was up 91.5% on a year-over-year basis. On average, research analysts predict that Arcellx will post -1.65 EPS for the current year.

Insider Transactions at Arcellx

In other Arcellx news, Director Kavita Patel sold 1,500 shares of the company’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $56.63, for a total transaction of $84,945.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Christopher Heery sold 27,451 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $67.03, for a total value of $1,840,040.53. Following the transaction, the insider now owns 9,278 shares in the company, valued at $621,904.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavita Patel sold 1,500 shares of Arcellx stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $56.63, for a total transaction of $84,945.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 129,505 shares of company stock worth $8,351,337. 6.24% of the stock is currently owned by insiders.

Institutional Trading of Arcellx

Several hedge funds and other institutional investors have recently made changes to their positions in ACLX. Quest Partners LLC bought a new stake in Arcellx in the second quarter worth $27,000. Plato Investment Management Ltd purchased a new position in shares of Arcellx in the 1st quarter worth about $51,000. Decheng Capital LLC bought a new position in Arcellx in the 2nd quarter worth about $65,000. National Bank of Canada FI grew its position in Arcellx by 50.0% during the 2nd 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. Finally, Public Employees Retirement Association of Colorado bought a new stake in Arcellx during the 2nd quarter valued at about $178,000. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $81.00 price objective on shares of Arcellx in a research note on Friday, August 9th. Truist Financial reaffirmed a “buy” rating and set a $87.00 price target on shares of Arcellx in a research report on Tuesday, June 18th. 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. Cantor Fitzgerald reissued an “overweight” rating on shares of Arcellx in a research note on Monday, September 9th. Finally, Piper Sandler assumed coverage on Arcellx in a research note on Friday, May 31st. They issued an “overweight” rating and a $70.00 price target for the company. Fourteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $78.00.

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).