Brokerages Set Arcellx, Inc. (NASDAQ:ACLX) Price Target at $111.87

Shares of Arcellx, Inc. (NASDAQ:ACLX) have earned a consensus rating of “Hold” from the nineteen analysts that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, sixteen have assigned a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $111.8667.

Several equities analysts have issued reports on the stock. Truist Financial upgraded shares of Arcellx from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 20th. Canaccord Genuity Group set a $115.00 price objective on shares of Arcellx in a research note on Monday, February 23rd. Citigroup downgraded Arcellx from a “buy” rating to a “neutral” rating and increased their price objective for the company from $110.00 to $115.00 in a report on Tuesday, February 24th. Wells Fargo & Company lowered Arcellx from an “overweight” rating to an “equal weight” rating and set a $115.00 target price for the company. in a research report on Monday, February 23rd. Finally, Rothschild & Co Redburn downgraded Arcellx from a “buy” rating to a “neutral” rating and set a $82.00 target price on the stock. in a report on Thursday, February 12th.

Arcellx Price Performance

Shares of NASDAQ:ACLX opened at $114.75 on Monday. Arcellx has a one year low of $47.86 and a one year high of $114.94. The company has a market cap of $6.71 billion, a price-to-earnings ratio of -28.19 and a beta of 0.25. The firm has a 50 day simple moving average of $94.10 and a 200 day simple moving average of $83.14.

Arcellx (NASDAQ:ACLX) last posted its earnings results on Thursday, February 26th. The company reported ($1.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($1.01). Arcellx had a negative net margin of 1,027.26% and a negative return on equity of 55.42%. The firm had revenue of $1.65 million for the quarter, compared to analysts’ expectations of $13.40 million. As a group, analysts expect that Arcellx will post -1.58 EPS for the current year.

Insider Activity at Arcellx

In other news, insider Christopher Heery sold 7,437 shares of the company’s stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $65.51, for a total value of $487,197.87. Following the sale, the insider directly owned 29,631 shares of the company’s stock, valued at approximately $1,941,126.81. This represents a 20.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Rami Elghandour sold 89,916 shares of the stock in a transaction on Friday, February 27th. The stock was sold at an average price of $113.92, for a total transaction of $10,243,230.72. Following the sale, the insider owned 276,051 shares of the company’s stock, valued at approximately $31,447,729.92. This trade represents a 24.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 109,366 shares of company stock valued at $11,526,708. Company insiders own 8.35% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. SBI Securities Co. Ltd. lifted its stake in shares of Arcellx by 4.6% in the 4th quarter. SBI Securities Co. Ltd. now owns 3,516 shares of the company’s stock valued at $229,000 after purchasing an additional 154 shares during the period. CWM LLC increased its holdings in Arcellx by 267.0% in the third quarter. CWM LLC now owns 345 shares of the company’s stock worth $28,000 after purchasing an additional 251 shares in the last quarter. Integrated Wealth Concepts LLC increased its holdings in Arcellx by 9.0% in the third quarter. Integrated Wealth Concepts LLC now owns 3,423 shares of the company’s stock worth $281,000 after purchasing an additional 283 shares in the last quarter. Advisory Alpha LLC lifted its stake in Arcellx by 10.4% in the fourth quarter. Advisory Alpha LLC now owns 3,313 shares of the company’s stock valued at $216,000 after buying an additional 313 shares during the period. Finally, MAI Capital Management acquired a new position in Arcellx in the third quarter valued at approximately $26,000. 96.03% of the stock is owned by institutional investors.

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.