Arcellx (NASDAQ:ACLX) Cut to Neutral at Rothschild & Co Redburn

Arcellx (NASDAQ:ACLX) was downgraded by analysts at Rothschild & Co Redburn from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. They currently have a $82.00 price target on the stock. Rothschild & Co Redburn’s price target would indicate a potential upside of 17.34% from the stock’s current price.

A number of other research analysts have also recently issued reports on the stock. Stifel Nicolaus set a $129.00 price objective on shares of Arcellx and gave the company a “buy” rating in a research note on Thursday, October 16th. Canaccord Genuity Group reiterated a “buy” rating and issued a $130.00 price target on shares of Arcellx in a research note on Monday, December 8th. HC Wainwright reissued a “buy” rating and set a $115.00 price target on shares of Arcellx in a report on Wednesday, February 4th. Guggenheim restated a “buy” rating on shares of Arcellx in a research note on Monday, November 24th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $105.00 target price on shares of Arcellx in a report on Thursday, February 5th. Nine analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $109.20.

Arcellx Stock Performance

Shares of NASDAQ ACLX opened at $69.88 on Thursday. The stock has a market capitalization of $4.04 billion, a P/E ratio of -17.78 and a beta of 0.36. Arcellx has a 52 week low of $47.86 and a 52 week high of $94.07. The stock’s fifty day moving average is $67.46 and its 200 day moving average is $74.91.

Insider Activity at Arcellx

In related news, insider Christopher Heery sold 5,882 shares of the firm’s stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $68.51, for a total transaction of $402,975.82. Following the completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last 90 days, insiders sold 19,790 shares of company stock worth $1,314,077. 8.35% of the stock is owned by corporate insiders.

Institutional Trading of Arcellx

Several hedge funds have recently modified their holdings of the stock. Decheng Capital LLC boosted its position in shares of Arcellx by 995.2% during the 2nd quarter. Decheng Capital LLC now owns 547,609 shares of the company’s stock worth $36,060,000 after purchasing an additional 497,609 shares in the last quarter. American Century Companies Inc. lifted its stake in Arcellx by 694.3% during the 2nd quarter. American Century Companies Inc. now owns 431,466 shares of the company’s stock valued at $28,412,000 after acquiring an additional 377,145 shares in the last quarter. Vestal Point Capital LP lifted its position in shares of Arcellx by 15.2% during the second quarter. Vestal Point Capital LP now owns 2,750,000 shares of the company’s stock valued at $181,088,000 after purchasing an additional 362,280 shares in the last quarter. Fisher Asset Management LLC purchased a new position in shares of Arcellx in the 4th quarter worth approximately $21,050,000. Finally, JPMorgan Chase & Co. grew its position in Arcellx by 42.9% during the second quarter. JPMorgan Chase & Co. now owns 976,968 shares of the company’s stock valued at $64,333,000 after buying an additional 293,387 shares during the period. Institutional investors own 96.03% of the company’s stock.

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.