Analysts Set Arcellx, Inc. (NASDAQ:ACLX) PT at $112.22

Shares of Arcellx, Inc. (NASDAQ:ACLX) have been given a consensus rating of “Moderate Buy” by the twelve analysts that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $112.2222.

A number of equities research analysts have issued reports on ACLX shares. UBS Group started coverage on Arcellx in a research note on Wednesday, January 7th. They set a “buy” rating for the company. Wells Fargo & Company started coverage on shares of Arcellx in a report on Monday, December 22nd. They issued an “overweight” rating and a $100.00 price objective on the stock. HC Wainwright restated a “buy” rating and set a $115.00 target price on shares of Arcellx in a research report on Wednesday, February 4th. Guggenheim reiterated a “buy” rating on shares of Arcellx in a research report on Monday, November 24th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $130.00 price objective on shares of Arcellx in a research report on Monday, December 8th.

Insiders Place Their Bets

In other Arcellx news, insider Christopher Heery sold 7,437 shares of the business’s stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $65.51, for a total transaction of $487,197.87. Following the completion of the sale, the insider owned 29,631 shares of the company’s stock, valued at approximately $1,941,126.81. The trade was a 20.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold 19,790 shares of company stock worth $1,314,077 in the last quarter. 8.35% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ACLX. Decheng Capital LLC raised its position in shares of 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 purchasing an additional 497,609 shares during the period. American Century Companies Inc. boosted its holdings in Arcellx by 694.3% in the 2nd quarter. American Century Companies Inc. now owns 431,466 shares of the company’s stock worth $28,412,000 after buying an additional 377,145 shares during the period. Vestal Point Capital LP increased its stake in Arcellx by 15.2% in the 2nd quarter. Vestal Point Capital LP now owns 2,750,000 shares of the company’s stock worth $181,088,000 after buying an additional 362,280 shares in the last quarter. Fisher Asset Management LLC bought a new stake in Arcellx during the fourth quarter valued at about $21,050,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Arcellx by 42.9% in the second quarter. JPMorgan Chase & Co. now owns 976,968 shares of the company’s stock valued at $64,333,000 after acquiring an additional 293,387 shares in the last quarter. 96.03% of the stock is owned by hedge funds and other institutional investors.

Arcellx Price Performance

ACLX stock opened at $67.24 on Friday. Arcellx has a 1 year low of $47.86 and a 1 year high of $94.07. The company has a market cap of $3.89 billion, a P/E ratio of -17.11 and a beta of 0.36. The stock’s fifty day moving average price is $67.52 and its 200-day moving average price is $74.94.

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.