Arcellx, Inc. (NASDAQ:ACLX) Given Consensus Rating of “Moderate Buy” by Brokerages

Arcellx, Inc. (NASDAQ:ACLX) has been assigned an average rating of “Moderate Buy” from the twelve analysts that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $112.2222.

Several research analysts recently commented on the company. Stifel Nicolaus set a $129.00 price target on Arcellx and gave the company a “buy” rating in a research report on Thursday, October 16th. Cantor Fitzgerald reissued a “neutral” rating and issued a $88.00 price objective on shares of Arcellx in a report on Thursday, October 9th. Guggenheim restated a “buy” rating on shares of Arcellx in a report on Monday, November 24th. Citigroup reaffirmed a “buy” rating on shares of Arcellx in a research report on Monday, November 24th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcellx in a research note on Wednesday, October 8th.

Arcellx Stock Performance

NASDAQ ACLX opened at $68.94 on Wednesday. Arcellx has a 52 week low of $47.86 and a 52 week high of $94.07. The stock’s 50 day moving average price is $72.16 and its two-hundred day moving average price is $74.96. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of -17.54 and a beta of 0.36.

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

Insiders Place Their Bets

In other Arcellx news, insider Christopher Heery sold 7,437 shares of the company’s stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $65.51, for a total value of $487,197.87. Following the sale, the insider owned 29,631 shares in the company, valued at $1,941,126.81. This represents a 20.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 19,790 shares of company stock worth $1,314,077 over the last 90 days. 8.35% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. MAI Capital Management acquired a new stake in Arcellx during the 3rd quarter valued at $26,000. CWM LLC lifted its stake in shares of Arcellx by 267.0% during the 3rd quarter. CWM LLC now owns 345 shares of the company’s stock worth $28,000 after buying an additional 251 shares during the last quarter. State of Wyoming acquired a new stake in shares of Arcellx during the 2nd quarter worth about $28,000. Ramirez Asset Management Inc. bought a new stake in shares of Arcellx during the 3rd quarter worth about $41,000. Finally, PNC Financial Services Group Inc. grew its stake in Arcellx by 183.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 751 shares of the company’s stock valued at $49,000 after buying an additional 486 shares during the last quarter. 96.03% of the stock is owned by institutional investors and hedge funds.

About Arcellx

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.