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

Shares of Arcellx, Inc. (NASDAQ:ACLX) have been assigned an average rating of “Moderate Buy” from the eleven research firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $113.75.

A number of research analysts have recently commented on ACLX shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcellx in a report on Wednesday, October 8th. Stifel Nicolaus set a $129.00 target price on shares of Arcellx and gave the company a “buy” rating in a research note on Thursday, October 16th. Wolfe Research initiated coverage on shares of Arcellx in a research note on Tuesday, November 18th. They issued a “peer perform” rating for the company. Wells Fargo & Company assumed coverage on shares of Arcellx in a report on Monday. They issued an “overweight” rating and a $100.00 price objective for the company. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $88.00 target price on shares of Arcellx in a report on Thursday, October 9th.

Arcellx Trading Down 0.4%

Shares of NASDAQ:ACLX opened at $65.71 on Friday. The firm’s 50 day moving average is $78.52 and its two-hundred day moving average is $74.75. The firm has a market capitalization of $3.80 billion, a P/E ratio of -16.72 and a beta of 0.34. Arcellx has a 52 week low of $47.86 and a 52 week high of $94.07.

Arcellx (NASDAQ:ACLX) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.99) earnings per share (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. Analysts predict that Arcellx will post -1.58 EPS for the current year.

Insider Activity at Arcellx

In other news, insider Christopher Heery sold 340 shares of the company’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $90.00, for a total value of $30,600.00. Following the completion of the sale, the insider owned 284 shares in the company, valued at $25,560. This represents a 54.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last 90 days, insiders sold 21,447 shares of company stock valued at $1,746,095. 8.35% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Arcellx

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Invesco Ltd. boosted its position in shares of Arcellx by 13.9% during the 1st quarter. Invesco Ltd. now owns 30,242 shares of the company’s stock valued at $1,984,000 after purchasing an additional 3,692 shares in the last quarter. Nuveen LLC acquired a new position in Arcellx in the first quarter worth approximately $7,333,000. American Century Companies Inc. increased its holdings in shares of Arcellx by 84.5% in the first quarter. American Century Companies Inc. now owns 54,321 shares of the company’s stock valued at $3,563,000 after buying an additional 24,875 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Arcellx in the first quarter valued at $50,000. Finally, EntryPoint Capital LLC acquired a new stake in shares of Arcellx during the 1st quarter valued at $248,000. 96.03% of the stock is owned by institutional investors and hedge funds.

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.