Arcellx, Inc. (NASDAQ:ACLX – Get Free Report) Director Jill Carroll sold 504,263 shares of Arcellx stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $70.55, for a total value of $35,575,754.65. Following the transaction, the director now directly owns 1,479,148 shares of the company’s stock, valued at $104,353,891.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Arcellx Stock Up 0.5 %
Shares of NASDAQ ACLX opened at $70.45 on Thursday. The stock’s 50 day moving average price is $65.19 and its two-hundred day moving average price is $52.03. Arcellx, Inc. has a 52-week low of $27.28 and a 52-week high of $75.10. The stock has a market capitalization of $3.72 billion, a P/E ratio of -47.92 and a beta of 0.02.
Arcellx (NASDAQ:ACLX – Get Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.95. The business had revenue of $63.15 million for the quarter, compared to analysts’ expectations of $20.07 million. Arcellx had a negative return on equity of 20.96% and a negative net margin of 64.08%. During the same period in the prior year, the firm earned ($0.76) EPS. On average, analysts anticipate that Arcellx, Inc. will post -1.69 EPS for the current year.
Hedge Funds Weigh In On Arcellx
Analysts Set New Price Targets
Several brokerages recently issued reports on ACLX. Needham & Company LLC lifted their price objective on Arcellx from $72.00 to $81.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Morgan Stanley began coverage on Arcellx in a report on Thursday, March 7th. They set an “overweight” rating and a $81.00 price objective for the company. Truist Financial lifted their price objective on Arcellx from $57.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Canaccord Genuity Group boosted their price target on Arcellx from $66.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Finally, Barclays boosted their price target on Arcellx from $62.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Thirteen analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $69.14.
Read Our Latest 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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