Arcellx, Inc. (NASDAQ:ACLX) Receives $112.22 Average Target Price from Analysts

Shares of Arcellx, Inc. (NASDAQ:ACLX) have received an average recommendation of “Moderate Buy” from the twelve ratings firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $112.2222.

Several research analysts have recently commented on the company. Wells Fargo & Company assumed coverage on Arcellx in a research report on Monday, December 22nd. They issued an “overweight” rating and a $100.00 target price for the company. Canaccord Genuity Group restated a “buy” rating and set a $130.00 price objective on shares of Arcellx in a research note on Monday, December 8th. UBS Group started coverage on shares of Arcellx in a report on Wednesday, January 7th. They issued a “buy” rating for the company. Needham & Company LLC reiterated a “buy” rating and set a $105.00 target price on shares of Arcellx in a research note on Monday, December 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Arcellx in a research report on Wednesday, October 8th.

Insiders Place Their Bets

In other Arcellx news, insider Christopher Heery sold 5,882 shares of the firm’s stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $68.51, for a total value of $402,975.82. Following the transaction, the insider owned 23,749 shares of the company’s stock, valued at $1,627,043.99. This trade represents a 19.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 19,790 shares of company stock worth $1,314,077 in the last quarter. 8.35% of the stock is owned by corporate insiders.

Institutional Trading of Arcellx

A number of institutional investors and hedge funds have recently made changes to their positions in ACLX. MAI Capital Management acquired a new position in Arcellx during the 3rd quarter valued at approximately $26,000. CWM LLC increased its position in Arcellx by 267.0% in the third quarter. CWM LLC now owns 345 shares of the company’s stock worth $28,000 after buying an additional 251 shares during the period. State of Wyoming bought a new stake in Arcellx in the second quarter valued at $28,000. Ramirez Asset Management Inc. acquired a new position in shares of Arcellx during the third quarter valued at $41,000. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Arcellx by 183.4% during the second quarter. PNC Financial Services Group Inc. now owns 751 shares of the company’s stock valued at $49,000 after acquiring an additional 486 shares during the period. 96.03% of the stock is currently owned by institutional investors and hedge funds.

Arcellx Stock Performance

Shares of Arcellx stock opened at $68.94 on Wednesday. The firm has a market cap of $3.99 billion, a PE ratio of -17.54 and a beta of 0.36. The firm’s 50-day simple moving average is $72.16 and its 200-day simple moving average is $74.83. Arcellx has a 1 year low of $47.86 and a 1 year high of $94.07.

Arcellx (NASDAQ:ACLX) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.03). The firm had revenue of $4.95 million during the quarter, compared to analyst estimates of $11.24 million. Arcellx had a negative return on equity of 51.13% and a negative net margin of 607.01%. On average, equities analysts predict that Arcellx will post -1.58 earnings per share for the current year.

Arcellx Company Profile

Arcellx, Inc (NASDAQ: ACLX) is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of next-generation cell therapies for oncology and autoimmune diseases. The company’s proprietary ARC-SparX™ platform is designed to enable precise control over cell-surface receptor activation and to improve the safety, efficacy and durability of adoptive cell therapies. Leveraging this technology, Arcellx engineers immune cells with modular antigen-binding domains that can be exchanged to target a variety of disease-associated markers.

The company’s pipeline comprises multiple wholly owned programs in hematologic malignancies and solid tumors at various stages of preclinical and clinical development.