Short Interest in Arcellx, Inc. (NASDAQ:ACLX) Declines By 38.0%

Arcellx, Inc. (NASDAQ:ACLX) saw a significant drop in short interest in February. As of February 27th, there was short interest totaling 5,763,954 shares, a drop of 38.0% from the February 12th total of 9,291,091 shares. Based on an average trading volume of 6,146,088 shares, the days-to-cover ratio is currently 0.9 days. Currently, 10.8% of the company’s stock are sold short. Currently, 10.8% of the company’s stock are sold short. Based on an average trading volume of 6,146,088 shares, the days-to-cover ratio is currently 0.9 days.

Arcellx Price Performance

Shares of ACLX stock opened at $114.39 on Friday. The firm has a fifty day moving average of $81.66 and a two-hundred day moving average of $79.18. The firm has a market cap of $6.69 billion, a P/E ratio of -28.11 and a beta of 0.23. Arcellx has a 1-year low of $47.86 and a 1-year high of $114.80.

Arcellx (NASDAQ:ACLX) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($1.01) EPS for the quarter, hitting the consensus estimate of ($1.01). The business had revenue of $1.65 million for the quarter, compared to analysts’ expectations of $13.40 million. Arcellx had a negative net margin of 1,027.26% and a negative return on equity of 55.42%. On average, sell-side analysts expect that Arcellx will post -1.58 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ACLX shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcellx in a research report on Wednesday, January 21st. Wolfe Research initiated coverage on Arcellx in a research note on Tuesday, November 18th. They issued a “peer perform” rating on the stock. Leerink Partners reissued a “market perform” rating and issued a $115.00 price target on shares of Arcellx in a report on Tuesday, February 24th. William Blair lowered Arcellx from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 23rd. Finally, Canaccord Genuity Group set a $115.00 price objective on Arcellx in a report on Monday, February 23rd. One investment analyst has rated the stock with a Buy rating, seventeen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Arcellx presently has a consensus rating of “Hold” and an average price target of $111.87.

Insider Buying and Selling

In other news, insider Christopher Heery sold 5,882 shares of the company’s stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $68.51, for a total value of $402,975.82. Following the completion of the transaction, the insider directly owned 23,749 shares in the company, valued at approximately $1,627,043.99. This represents a 19.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Rami Elghandour sold 89,916 shares of the firm’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $113.92, for a total transaction of $10,243,230.72. Following the sale, the insider directly owned 276,051 shares of the company’s stock, valued at approximately $31,447,729.92. The trade was a 24.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 109,366 shares of company stock worth $11,526,708 in the last quarter. Insiders own 8.35% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. increased its holdings in shares of Arcellx by 66.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,560,425 shares of the company’s stock valued at $688,540,000 after acquiring an additional 4,208,069 shares during the last quarter. Paradigm Biocapital Advisors LP raised its position in shares of Arcellx by 23.1% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 5,724,016 shares of the company’s stock valued at $373,206,000 after acquiring an additional 1,075,000 shares in the last quarter. Vanguard Group Inc. lifted its stake in Arcellx by 4.5% during the fourth quarter. Vanguard Group Inc. now owns 4,081,519 shares of the company’s stock worth $266,115,000 after purchasing an additional 174,432 shares during the last quarter. Vestal Point Capital LP lifted its stake in Arcellx by 134.0% during the fourth quarter. Vestal Point Capital LP now owns 2,925,000 shares of the company’s stock worth $190,710,000 after purchasing an additional 1,675,000 shares during the last quarter. Finally, State Street Corp boosted its holdings in Arcellx by 31.0% in the fourth quarter. State Street Corp now owns 1,998,503 shares of the company’s stock worth $130,302,000 after purchasing an additional 472,476 shares during the period. Institutional investors own 96.03% of the company’s stock.

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.