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

Arcellx, Inc. (NASDAQ:ACLX) has earned an average rating of “Moderate Buy” from the twelve research firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $112.2222.

A number of analysts recently issued reports on ACLX shares. Guggenheim restated a “buy” rating on shares of Arcellx in a research report on Monday, November 24th. Wells Fargo & Company started coverage on Arcellx in a research note on Monday, December 22nd. They issued an “overweight” rating and a $100.00 target price on the stock. Wolfe Research initiated coverage on shares of Arcellx in a research report on Tuesday, November 18th. They issued a “peer perform” rating for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcellx in a report on Wednesday, January 21st. Finally, Citigroup reiterated a “buy” rating on shares of Arcellx in a report on Monday, November 24th.

Arcellx Stock Up 1.6%

Shares of Arcellx stock opened at $68.03 on Friday. Arcellx has a twelve month low of $47.86 and a twelve month high of $94.07. The business has a 50-day moving average price of $67.58 and a 200-day moving average price of $74.95. The firm has a market cap of $3.93 billion, a price-to-earnings ratio of -17.31 and a beta of 0.36.

Arcellx (NASDAQ:ACLX) last posted its earnings results on Wednesday, November 5th. The company reported ($0.99) EPS 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 firm had revenue of $4.95 million during the quarter, compared to analysts’ expectations of $11.24 million. On average, equities analysts expect that Arcellx will post -1.58 EPS for the current fiscal year.

Insider Activity at Arcellx

In other news, insider Christopher Heery sold 5,882 shares of the firm’s stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $68.51, for a total value 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 19,790 shares of company stock worth $1,314,077. Corporate insiders own 8.35% of the company’s stock.

Institutional Investors Weigh In On Arcellx

A number of large investors have recently modified their holdings of the business. MAI Capital Management acquired a new position in shares of Arcellx during the third quarter valued at about $26,000. CWM LLC raised its holdings in shares of Arcellx by 267.0% during the third quarter. CWM LLC now owns 345 shares of the company’s stock worth $28,000 after purchasing an additional 251 shares during the last quarter. State of Wyoming acquired a new position in shares of Arcellx in the 2nd quarter valued at about $28,000. Ramirez Asset Management Inc. purchased a new stake in Arcellx in the 3rd quarter worth approximately $41,000. Finally, PNC Financial Services Group Inc. grew its position in Arcellx by 183.4% during the second quarter. PNC Financial Services Group Inc. now owns 751 shares of the company’s stock valued at $49,000 after buying an additional 486 shares during the period. Hedge funds and other institutional investors own 96.03% of the company’s stock.

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.