Arcellx, Inc. (NASDAQ:ACLX) Short Interest Update

Arcellx, Inc. (NASDAQ:ACLX) saw a large decline in short interest in the month of September. As of September 15th, there was short interest totalling 4,750,000 shares, a decline of 6.1% from the August 31st total of 5,060,000 shares. Approximately 11.8% of the shares of the company are short sold. Based on an average daily trading volume, of 467,100 shares, the short-interest ratio is currently 10.2 days.

Arcellx Price Performance

Shares of NASDAQ:ACLX opened at $82.76 on Monday. The business’s fifty day moving average price is $68.40 and its two-hundred day moving average price is $61.12. Arcellx has a fifty-two week low of $30.88 and a fifty-two week high of $88.66. The stock has a market capitalization of $4.43 billion, a price-to-earnings ratio of -80.35 and a beta of 0.23.

Arcellx (NASDAQ:ACLX) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.51) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.01. Arcellx had a negative return on equity of 12.42% and a negative net margin of 37.23%. The firm had revenue of $27.38 million for the quarter, compared to analysts’ expectations of $22.04 million. Arcellx’s revenue for the quarter was up 91.5% compared to the same quarter last year. Research analysts expect that Arcellx will post -1.65 EPS for the current fiscal year.

Insiders Place Their Bets

In other Arcellx news, Director Kavita Patel sold 1,500 shares of Arcellx stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $56.63, for a total value of $84,945.00. The sale was disclosed in a filing with the SEC, which is available through this link. In other Arcellx news, Director Kavita Patel sold 1,500 shares of Arcellx stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $56.63, for a total value of $84,945.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Christopher Heery sold 3,671 shares of Arcellx stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $60.01, for a total value of $220,296.71. Following the completion of the transaction, the insider now directly owns 9,278 shares in the company, valued at $556,772.78. The disclosure for this sale can be found here. Insiders have sold a total of 86,628 shares of company stock valued at $6,009,342 in the last three months. Company insiders own 6.24% of the company’s stock.

Institutional Trading of Arcellx

Several large investors have recently made changes to their positions in ACLX. Perceptive Advisors LLC grew its holdings in shares of Arcellx by 14.6% during the fourth quarter. Perceptive Advisors LLC now owns 4,544,809 shares of the company’s stock worth $252,237,000 after purchasing an additional 578,831 shares during the last quarter. Great Point Partners LLC grew its holdings in shares of Arcellx by 64.0% during the second quarter. Great Point Partners LLC now owns 492,000 shares of the company’s stock worth $27,153,000 after purchasing an additional 192,000 shares during the last quarter. Bamco Inc. NY grew its holdings in shares of Arcellx by 292.1% during the first quarter. Bamco Inc. NY now owns 248,993 shares of the company’s stock worth $17,317,000 after purchasing an additional 185,493 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of 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 purchasing an additional 167,037 shares during the last quarter. Finally, Affinity Asset Advisors LLC grew its holdings in shares of Arcellx by 53.3% during the second quarter. Affinity Asset Advisors LLC now owns 460,000 shares of the company’s stock worth $25,387,000 after purchasing an additional 160,000 shares during the last quarter. Institutional investors own 96.03% of the company’s stock.

Analyst Upgrades and Downgrades

ACLX has been the topic of several recent analyst reports. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $85.00 price target on shares of Arcellx in a research report on Monday, July 22nd. Cantor Fitzgerald restated an “overweight” rating on shares of Arcellx in a research report on Monday, September 9th. Needham & Company LLC restated a “buy” rating and set a $81.00 price objective on shares of Arcellx in a research report on Friday, August 9th. Finally, Truist Financial restated a “buy” rating and set a $87.00 price objective on shares of Arcellx in a research report on Tuesday, June 18th. Fourteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Arcellx currently has an average rating of “Buy” and an average 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).