Short Interest in Arcellx, Inc. (NASDAQ:ACLX) Expands By 17.5%

Arcellx, Inc. (NASDAQ:ACLX) was the target of a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 5,230,000 shares, a growth of 17.5% from the November 15th total of 4,450,000 shares. Based on an average trading volume of 545,200 shares, the days-to-cover ratio is presently 9.6 days. Currently, 12.9% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ACLX shares. HC Wainwright reaffirmed a “buy” rating and set a $115.00 target price on shares of Arcellx in a research report on Tuesday, December 10th. Morgan Stanley raised their price target on shares of Arcellx from $81.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. UBS Group increased their target price on shares of Arcellx from $106.00 to $114.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Cantor Fitzgerald restated an “overweight” rating on shares of Arcellx in a research note on Monday, September 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $105.00 price target on shares of Arcellx in a report on Monday, December 9th. Thirteen investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $105.93.

Insider Transactions at Arcellx

In other Arcellx news, Director Kavita Patel sold 1,500 shares of the 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Michelle Gilson sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $77.73, for a total value of $1,165,950.00. Following the completion of the transaction, the chief financial officer now directly owns 6,915 shares in the company, valued at $537,502.95. The trade was a 68.45 % decrease in their ownership of the stock. 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. 6.24% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. RA Capital Management L.P. increased its position in shares of Arcellx by 15.4% during the 3rd quarter. RA Capital Management L.P. now owns 1,851,479 shares of the company’s stock worth $154,617,000 after purchasing an additional 247,465 shares in the last quarter. First Turn Management LLC bought a new stake in Arcellx during the third quarter worth about $17,896,000. Great Point Partners LLC raised its stake in shares of Arcellx by 64.0% in the second quarter. Great Point Partners LLC now owns 492,000 shares of the company’s stock valued at $27,153,000 after acquiring an additional 192,000 shares during the last quarter. Affinity Asset Advisors LLC boosted its holdings in shares of Arcellx by 53.3% in the 2nd quarter. Affinity Asset Advisors LLC now owns 460,000 shares of the company’s stock worth $25,387,000 after acquiring an additional 160,000 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position in Arcellx by 5.7% during the 3rd quarter. Janus Henderson Group PLC now owns 2,011,950 shares of the company’s stock worth $168,026,000 after acquiring an additional 109,332 shares during the last quarter. 96.03% of the stock is owned by institutional investors.

Arcellx Trading Up 0.5 %

NASDAQ ACLX opened at $83.80 on Friday. Arcellx has a 1-year low of $47.88 and a 1-year high of $107.37. The company has a market capitalization of $4.53 billion, a price-to-earnings ratio of -118.03 and a beta of 0.25. The stock’s 50 day moving average is $88.93 and its two-hundred day moving average is $72.57.

Arcellx (NASDAQ:ACLX) last posted its earnings results on Thursday, November 7th. The company reported ($0.48) EPS for the quarter, topping 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 the consensus estimate of $35.21 million. On average, analysts predict that Arcellx will post -1.49 earnings per share for the current year.

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).