FY2023 EPS Estimates for Arcellx, Inc. Lowered by HC Wainwright (NASDAQ:ACLX)

Arcellx, Inc. (NASDAQ:ACLX) – Equities research analysts at HC Wainwright decreased their FY2023 EPS estimates for shares of Arcellx in a research note issued on Tuesday, November 14th. HC Wainwright analyst E. Bodnar now expects that the company will earn ($2.67) per share for the year, down from their previous estimate of ($2.30). HC Wainwright currently has a “Buy” rating and a $60.00 target price on the stock. The consensus estimate for Arcellx’s current full-year earnings is ($2.37) per share. HC Wainwright also issued estimates for Arcellx’s Q4 2023 earnings at ($0.78) EPS, FY2024 earnings at ($0.24) EPS, FY2025 earnings at ($4.62) EPS and FY2026 earnings at ($4.10) EPS.

A number of other equities research analysts have also commented on the stock. TD Cowen began coverage on shares of Arcellx in a report on Monday, October 30th. They set an “outperform” rating on the stock. Stifel Nicolaus decreased their price objective on shares of Arcellx from $54.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, August 15th. Needham & Company LLC increased their price objective on shares of Arcellx from $51.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday. Leerink Partnrs reissued an “outperform” rating on shares of Arcellx in a report on Thursday, October 12th. Finally, Robert W. Baird increased their price objective on shares of Arcellx from $40.00 to $52.00 and gave the stock an “outperform” rating in a report on Tuesday, August 15th. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Arcellx currently has a consensus rating of “Buy” and a consensus target price of $54.77.

Arcellx Stock Up 4.4 %

ACLX opened at $52.17 on Thursday. The firm’s 50-day simple moving average is $36.97 and its 200-day simple moving average is $37.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.57 and a current ratio of 3.57. Arcellx has a twelve month low of $18.70 and a twelve month high of $54.56. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of -19.69 and a beta of -0.57.

Arcellx (NASDAQ:ACLX) last posted its earnings results on Monday, August 14th. The company reported ($0.50) earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.18. The firm had revenue of $14.30 million during the quarter, compared to the consensus estimate of $82.38 million.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. GSA Capital Partners LLP acquired a new position in Arcellx during the 3rd quarter valued at about $657,000. Schroder Investment Management Group lifted its position in Arcellx by 15.7% during the 3rd quarter. Schroder Investment Management Group now owns 64,751 shares of the company’s stock valued at $2,323,000 after purchasing an additional 8,774 shares during the period. JPMorgan Chase & Co. raised its position in shares of Arcellx by 72.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 563,899 shares of the company’s stock valued at $20,233,000 after acquiring an additional 236,461 shares during the period. Legal & General Group Plc raised its position in shares of Arcellx by 21.2% in the 3rd quarter. Legal & General Group Plc now owns 29,867 shares of the company’s stock valued at $1,072,000 after acquiring an additional 5,230 shares during the period. Finally, Adage Capital Partners GP L.L.C. raised its position in shares of Arcellx by 5.4% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 392,904 shares of the company’s stock valued at $14,097,000 after acquiring an additional 20,000 shares during the period.

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).