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

Arcellx, Inc. (NASDAQ:ACLX) has earned a consensus recommendation of “Moderate Buy” from the ten brokerages that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $115.7143.

Several analysts have recently commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcellx in a research note on Wednesday, October 8th. Guggenheim reissued a “buy” rating on shares of Arcellx in a research report on Monday, November 24th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $130.00 price objective on shares of Arcellx in a report on Monday, December 8th. Needham & Company LLC restated a “buy” rating and set a $105.00 price target on shares of Arcellx in a research report on Monday, December 8th. Finally, Citigroup reaffirmed a “buy” rating on shares of Arcellx in a research report on Monday, November 24th.

Insider Buying and Selling

In other Arcellx news, insider Christopher Heery sold 21,034 shares of the stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $81.28, for a total transaction of $1,709,643.52. Following the completion of the transaction, the insider directly owned 624 shares of the company’s stock, valued at approximately $50,718.72. This represents a 97.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 33,843 shares of company stock valued at $2,739,263 in the last quarter. 8.35% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Arcellx

Several institutional investors have recently added to or reduced their stakes in the business. CIBC Bancorp USA Inc. purchased a new stake in shares of Arcellx during the 3rd quarter valued at approximately $300,000. Jasper Ridge Partners L.P. raised its holdings in shares of Arcellx by 27.8% in the 3rd quarter. Jasper Ridge Partners L.P. now owns 15,107 shares of the company’s stock valued at $1,240,000 after acquiring an additional 3,287 shares in the last quarter. Dark Forest Capital Management LP boosted its position in shares of Arcellx by 83.7% during the 3rd quarter. Dark Forest Capital Management LP now owns 36,794 shares of the company’s stock valued at $3,021,000 after acquiring an additional 16,761 shares during the last quarter. Quarry LP grew its holdings in shares of Arcellx by 25.0% during the third quarter. Quarry LP now owns 3,376 shares of the company’s stock worth $277,000 after purchasing an additional 675 shares in the last quarter. Finally, Mariner LLC grew its holdings in shares of Arcellx by 33.8% during the third quarter. Mariner LLC now owns 7,315 shares of the company’s stock worth $601,000 after purchasing an additional 1,846 shares in the last quarter. 96.03% of the stock is owned by hedge funds and other institutional investors.

Arcellx Trading Down 0.3%

ACLX opened at $63.96 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 $3.70 billion, a price-to-earnings ratio of -16.27 and a beta of 0.34. The company’s fifty day moving average price is $80.80 and its two-hundred day moving average price is $74.78.

Arcellx (NASDAQ:ACLX) last posted its earnings results on Wednesday, November 5th. The company reported ($0.99) earnings per share 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 analyst estimates of $11.24 million. As a group, equities analysts forecast that Arcellx will post -1.58 earnings per share for the current fiscal year.

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.