Arcellx’s (ACLX) Buy Rating Reaffirmed at HC Wainwright

Arcellx (NASDAQ:ACLX)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research report issued on Wednesday,Benzinga reports. They presently have a $115.00 target price on the stock. HC Wainwright’s price objective points to a potential upside of 65.47% from the stock’s previous close.

Several other brokerages have also recently weighed in on ACLX. Citigroup reissued a “buy” rating on shares of Arcellx in a research report on Monday, November 24th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $88.00 price target on shares of Arcellx in a research note on Thursday, October 9th. Wells Fargo & Company assumed coverage on shares of Arcellx in a research report on Monday, December 22nd. They set an “overweight” rating and a $100.00 price objective on the stock. Wolfe Research began coverage on shares of Arcellx in a research note on Tuesday, November 18th. They set a “peer perform” rating on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Arcellx in a report on Wednesday, January 21st. Nine equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $112.22.

Arcellx Trading Up 0.1%

Shares of Arcellx stock traded up $0.04 on Wednesday, hitting $69.50. 214,667 shares of the company traded hands, compared to its average volume of 883,804. Arcellx has a 12-month low of $47.86 and a 12-month high of $94.07. The firm’s 50-day simple moving average is $67.88 and its 200 day simple moving average is $75.00. The company has a market cap of $4.02 billion, a P/E ratio of -17.67 and a beta of 0.36.

Arcellx (NASDAQ:ACLX) last announced 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 net margin of 607.01% and a negative return on equity of 51.13%. The business had revenue of $4.95 million during the quarter, compared to analysts’ expectations of $11.24 million. Analysts predict that Arcellx will post -1.58 earnings per share for the current year.

Insider Activity at Arcellx

In related news, insider Christopher Heery sold 5,882 shares of the firm’s stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $68.51, for a total transaction of $402,975.82. Following the completion of the sale, the insider owned 23,749 shares of the company’s stock, valued at $1,627,043.99. This trade represents a 19.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 19,790 shares of company stock worth $1,314,077 in the last 90 days. Corporate insiders own 8.35% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Schroder Investment Management Group bought a new position in Arcellx during the second quarter valued at approximately $3,951,000. Pathway Capital Management LP purchased a new position in shares of Arcellx in the 3rd quarter worth $4,191,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Arcellx in the third quarter worth $1,273,000. American Century Companies Inc. increased its position in Arcellx by 694.3% during the second quarter. American Century Companies Inc. now owns 431,466 shares of the company’s stock valued at $28,412,000 after acquiring an additional 377,145 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in Arcellx by 7.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 3,428 shares of the company’s stock valued at $226,000 after acquiring an additional 228 shares during the period. 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.