Arcellx, Inc. (NASDAQ:ACLX) Receives $111.87 Average PT from Analysts

Shares of Arcellx, Inc. (NASDAQ:ACLX) have been given a consensus rating of “Hold” by the nineteen research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and one has issued a buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $111.8667.

A number of analysts recently weighed in on ACLX shares. Truist Financial downgraded Arcellx from a “buy” rating to a “hold” rating and decreased their price target for the company from $134.00 to $120.00 in a research note on Monday, February 23rd. Rothschild & Co Redburn downgraded Arcellx from a “buy” rating to a “neutral” rating and set a $82.00 target price for the company. in a report on Thursday, February 12th. Guggenheim lowered shares of Arcellx from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $120.00 to $115.00 in a research report on Wednesday, February 25th. Needham & Company LLC cut shares of Arcellx from a “buy” rating to a “hold” rating in a research note on Monday, February 23rd. Finally, William Blair downgraded shares of Arcellx from a “strong-buy” rating to a “hold” rating in a report on Monday, February 23rd.

Insider Transactions at Arcellx

In other news, insider Rami Elghandour sold 89,916 shares of Arcellx stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $113.92, for a total transaction of $10,243,230.72. Following the completion of the sale, the insider directly owned 276,051 shares in the company, valued at approximately $31,447,729.92. This trade represents a 24.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher Heery sold 7,437 shares of the business’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 directly owned 29,631 shares in the company, valued at $1,941,126.81. This trade represents a 20.06% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 109,366 shares of company stock valued at $11,526,708. 8.35% of the stock is currently owned by corporate insiders.

Institutional Trading of Arcellx

A number of institutional investors have recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. raised its stake in shares of Arcellx by 66.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,560,425 shares of the company’s stock worth $688,540,000 after buying an additional 4,208,069 shares during the last quarter. Vestal Point Capital LP grew its stake in Arcellx by 134.0% in the 4th quarter. Vestal Point Capital LP now owns 2,925,000 shares of the company’s stock valued at $190,710,000 after acquiring an additional 1,675,000 shares during the last quarter. Paradigm Biocapital Advisors LP increased its holdings in Arcellx by 23.1% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 5,724,016 shares of the company’s stock valued at $373,206,000 after acquiring an additional 1,075,000 shares in the last quarter. Decheng Capital LLC increased its holdings in Arcellx by 995.2% during the 2nd quarter. Decheng Capital LLC now owns 547,609 shares of the company’s stock valued at $36,060,000 after acquiring an additional 497,609 shares in the last quarter. Finally, State Street Corp raised its position in Arcellx by 31.0% during the fourth quarter. State Street Corp now owns 1,998,503 shares of the company’s stock worth $130,302,000 after acquiring an additional 472,476 shares during the last quarter. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

Arcellx Stock Up 0.1%

Shares of NASDAQ:ACLX opened at $114.50 on Thursday. Arcellx has a 52 week low of $47.86 and a 52 week high of $114.80. The company has a 50-day moving average price of $77.66 and a 200 day moving average price of $78.06. The company has a market cap of $6.70 billion, a P/E ratio of -28.13 and a beta of 0.22.

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

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.