Arcellx, Inc. (NASDAQ:ACLX – Get Free Report) Director Kavita Patel sold 10,000 shares of the company’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $54.27, for a total transaction of $542,700.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Arcellx Trading Up 2.0 %
ACLX opened at $55.19 on Monday. The firm’s 50 day simple moving average is $52.82 and its two-hundred day simple moving average is $58.33. The company has a market capitalization of $2.95 billion, a PE ratio of -53.58 and a beta of 0.23. Arcellx, Inc. has a 1-year low of $30.74 and a 1-year high of $75.10.
Arcellx (NASDAQ:ACLX – Get Free Report) last released its earnings results on Thursday, May 9th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.51) by $0.37. The company had revenue of $39.26 million for the quarter, compared to the consensus estimate of $20.67 million. Arcellx had a negative return on equity of 13.11% and a negative net margin of 38.39%. Arcellx’s quarterly revenue was up 119.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.58) earnings per share. Equities analysts forecast that Arcellx, Inc. will post -1.7 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Arcellx
Analyst Ratings Changes
A number of brokerages have weighed in on ACLX. Needham & Company LLC reaffirmed a “buy” rating and set a $81.00 target price on shares of Arcellx in a research note on Tuesday, May 7th. Evercore ISI began coverage on Arcellx in a research report on Tuesday, May 14th. They set an “outperform” rating and a $85.00 price objective for the company. Morgan Stanley began coverage on Arcellx in a report on Thursday, March 7th. They issued an “overweight” rating and a $81.00 target price on the stock. Truist Financial restated a “buy” rating and set a $87.00 price target on shares of Arcellx in a report on Tuesday, June 18th. Finally, Scotiabank reissued an “outperform” rating and set a $82.00 price objective on shares of Arcellx in a research report on Thursday, April 4th. Thirteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $78.00.
Get Our Latest Stock Report on Arcellx
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).
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