Arcellx, Inc. (NASDAQ:ACLX) Receives Average Recommendation of “Buy” from Brokerages

Arcellx, Inc. (NASDAQ:ACLX) has received a consensus rating of “Buy” from the twelve research firms that are currently covering the firm, Marketbeat reports. Twelve investment analysts have rated the stock with a buy recommendation. The average 1 year target price among analysts that have covered the stock in the last year is $53.31.

A number of brokerages recently commented on ACLX. Leerink Partnrs reaffirmed an “outperform” rating on shares of Arcellx in a research note on Thursday, October 12th. HC Wainwright lifted their price objective on Arcellx from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, August 15th. TD Cowen assumed coverage on Arcellx in a research note on Monday, October 30th. They set an “outperform” rating for the company. Needham & Company LLC reissued a “buy” rating and issued a $51.00 target price on shares of Arcellx in a research note on Tuesday, August 15th. Finally, Robert W. Baird boosted their target price on Arcellx from $40.00 to $52.00 and gave the company an “outperform” rating in a research note on Tuesday, August 15th.

Institutional Trading of Arcellx

Institutional investors have recently modified their holdings of the company. Citigroup Inc. bought a new stake in shares of Arcellx in the first quarter valued at about $26,000. China Universal Asset Management Co. Ltd. raised its holdings in Arcellx by 98.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,248 shares of the company’s stock worth $45,000 after acquiring an additional 619 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Arcellx by 219.0% during the first quarter. Tower Research Capital LLC TRC now owns 1,464 shares of the company’s stock worth $45,000 after acquiring an additional 1,005 shares in the last quarter. California State Teachers Retirement System bought a new stake in Arcellx during the first quarter worth about $54,000. Finally, Genworth Financial Inc bought a new stake in Arcellx during the second quarter worth about $57,000.

Arcellx Trading Up 1.5 %

ACLX stock opened at $45.30 on Tuesday. The company has a market cap of $2.19 billion, a P/E ratio of -11.44 and a beta of -0.57. Arcellx has a twelve month low of $18.70 and a twelve month high of $48.92. The company has a quick ratio of 3.57, a current ratio of 3.57 and a debt-to-equity ratio of 0.03. The business has a fifty day moving average of $35.22 and a 200-day moving average of $36.66.

Arcellx (NASDAQ:ACLX) last announced its quarterly earnings data on Monday, August 14th. The company reported ($0.50) EPS for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.18. The company had revenue of $14.30 million for the quarter, compared to analyst estimates of $82.38 million. As a group, equities research analysts expect that Arcellx will post -2.37 EPS for the current year.

About Arcellx

Arcellx, Inc, a clinical-stage biotechnology company, engages in the development of various immunotherapies for patients with cancer and other incurable diseases. The company's lead ddCAR product candidate is CART-ddBCMA, which is in phase 2 clinical trial for the treatment of patients with relapsed or refractory (r/r) multiple myeloma (MM).