Arcellx, Inc. (NASDAQ:ACLX) Receives $105.93 Consensus PT from Brokerages

Shares of Arcellx, Inc. (NASDAQ:ACLX) have been assigned an average rating of “Buy” from the fifteen brokerages that are currently covering the firm, Marketbeat.com reports. Thirteen equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $105.93.

Several equities analysts have recently weighed in on ACLX shares. Redburn Atlantic initiated coverage on shares of Arcellx in a research report on Tuesday, October 8th. They set a “buy” rating and a $109.00 price objective for the company. Barclays upgraded shares of Arcellx to a “strong-buy” rating in a report on Friday, November 29th. Stifel Nicolaus upped their price target on Arcellx from $83.00 to $122.00 and gave the company a “buy” rating in a report on Friday, October 18th. UBS Group raised their price objective on Arcellx from $106.00 to $114.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Truist Financial boosted their target price on Arcellx from $87.00 to $136.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th.

Arcellx Stock Performance

Shares of ACLX opened at $83.80 on Wednesday. The stock’s fifty day moving average is $88.93 and its 200-day moving average is $72.42. The firm has a market capitalization of $4.53 billion, a price-to-earnings ratio of -118.03 and a beta of 0.25. Arcellx has a one year low of $47.88 and a one year high of $107.37.

Arcellx (NASDAQ:ACLX) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.48) earnings per share for the quarter, beating the consensus estimate of ($0.54) by $0.06. Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. The business had revenue of $26.03 million during the quarter, compared to analyst estimates of $35.21 million. Analysts forecast that Arcellx will post -1.49 EPS for the current fiscal year.

Insider Activity at Arcellx

In other Arcellx news, CFO Michelle Gilson sold 15,000 shares of Arcellx stock in a transaction 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 owns 6,915 shares of the company’s stock, valued at $537,502.95. This trade represents a 68.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kavita Patel sold 1,500 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $91.88, for a total transaction of $137,820.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 67,001 shares of company stock valued at $6,568,393. Company insiders own 6.24% of the company’s stock.

Institutional Trading of Arcellx

A number of institutional investors have recently bought and sold shares of ACLX. Mirae Asset Global Investments Co. Ltd. increased its position in Arcellx by 21.7% in the 3rd 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 during the last quarter. Quest Partners LLC acquired a new position in Arcellx in the second quarter worth approximately $27,000. National Bank of Canada FI raised 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 acquiring an additional 500 shares in the last quarter. High Net Worth Advisory Group LLC raised its position in Arcellx by 6.3% during the third quarter. High Net Worth Advisory Group LLC now owns 8,500 shares of the company’s stock valued at $710,000 after acquiring an additional 500 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Arcellx by 1.4% in the second quarter. Principal Financial Group Inc. now owns 37,352 shares of the company’s stock valued at $2,061,000 after acquiring an additional 517 shares during the last quarter. Institutional investors and hedge funds own 96.03% of the company’s stock.

Arcellx Company Profile

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).