FY2029 EPS Estimates for Arcellx Lifted by Leerink Partnrs

Arcellx, Inc. (NASDAQ:ACLX) – Equities researchers at Leerink Partnrs increased their FY2029 earnings estimates for Arcellx in a research report issued to clients and investors on Friday, May 9th. Leerink Partnrs analyst D. Graybosch now forecasts that the company will post earnings of $5.00 per share for the year, up from their prior forecast of $4.65. The consensus estimate for Arcellx’s current full-year earnings is ($1.58) per share.

Separately, Scotiabank cut their price objective on Arcellx from $133.00 to $93.00 and set a “sector outperform” rating for the company in a report on Friday. Thirteen equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $109.31.

Arcellx Trading Up 2.7%

Shares of ACLX opened at $57.77 on Monday. The firm has a fifty day simple moving average of $64.30 and a two-hundred day simple moving average of $72.59. The firm has a market cap of $3.18 billion, a PE ratio of -81.37 and a beta of 0.34. Arcellx has a 1-year low of $47.86 and a 1-year high of $107.37.

Arcellx (NASDAQ:ACLX) last issued its earnings results on Thursday, May 8th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.84) by ($0.29). Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. The company had revenue of $8.13 million during the quarter, compared to analysts’ expectations of $19.51 million.

Insider Buying and Selling

In other Arcellx news, Director Kavita Patel sold 1,500 shares of the company’s stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $57.50, for a total value of $86,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher Heery sold 10,155 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $63.79, for a total value of $647,787.45. Following the completion of the transaction, the insider now directly owns 37,486 shares in the company, valued at $2,391,231.94. This trade represents a 21.32% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,455 shares of company stock valued at $3,407,903. 6.24% of the stock is owned by company insiders.

Institutional Investors Weigh In On Arcellx

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACLX. Vanguard Group Inc. increased its stake in shares of Arcellx by 19.7% in the first quarter. Vanguard Group Inc. now owns 3,985,156 shares of the company’s stock worth $261,426,000 after purchasing an additional 655,064 shares in the last quarter. TD Asset Management Inc boosted its holdings in Arcellx by 2.7% in the 1st quarter. TD Asset Management Inc now owns 168,320 shares of the company’s stock worth $11,042,000 after buying an additional 4,402 shares during the period. Neo Ivy Capital Management bought a new position in Arcellx in the 1st quarter worth $259,000. Readystate Asset Management LP purchased a new stake in Arcellx in the 1st quarter worth $2,956,000. Finally, Atle Fund Management AB raised its holdings in Arcellx by 5.0% during the first quarter. Atle Fund Management AB now owns 44,171 shares of the company’s stock valued at $2,898,000 after acquiring an additional 2,100 shares during the period. Institutional investors own 96.03% of the company’s stock.

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).