Arcellx, Inc. (NASDAQ:ACLX) Given Consensus Recommendation of “Hold” by Analysts

Arcellx, Inc. (NASDAQ:ACLX) has been given an average rating of “Hold” by the nineteen research firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, sixteen have issued a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $111.8667.

A number of equities research analysts recently commented on ACLX shares. Wells Fargo & Company downgraded Arcellx from an “overweight” rating to an “equal weight” rating and set a $115.00 target price on the stock. in a research report on Monday, February 23rd. Rothschild & Co Redburn cut shares of Arcellx from a “buy” rating to a “neutral” rating and set a $82.00 price target on the stock. in a research report on Thursday, February 12th. UBS Group lowered shares of Arcellx from a “buy” rating to a “neutral” rating and increased their price objective for the company from $100.00 to $115.00 in a research report on Tuesday, February 24th. Needham & Company LLC downgraded shares of Arcellx from a “buy” rating to a “hold” rating in a report on Monday, February 23rd. Finally, Truist Financial upgraded shares of Arcellx from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 20th.

Insider Buying and Selling

In related news, insider Rami Elghandour sold 89,916 shares of Arcellx stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $113.92, for a total value of $10,243,230.72. Following the completion of the transaction, the insider owned 276,051 shares in the company, valued at approximately $31,447,729.92. This trade represents a 24.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.35% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MAI Capital Management purchased a new position in Arcellx in the third quarter worth about $26,000. CWM LLC increased its position in Arcellx by 267.0% during the third quarter. CWM LLC now owns 345 shares of the company’s stock valued at $28,000 after acquiring an additional 251 shares during the last quarter. State of Wyoming bought a new position in Arcellx during the second quarter valued at $28,000. Ramirez Asset Management Inc. bought a new position in Arcellx during the third quarter valued at $41,000. Finally, Abich Financial Wealth Management LLC bought a new position in Arcellx during the third quarter valued at $62,000. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Arcellx Trading Up 0.0%

Shares of ACLX stock opened at $115.05 on Friday. The stock has a market capitalization of $6.73 billion, a price-to-earnings ratio of -28.27 and a beta of 0.25. Arcellx has a 12-month low of $47.86 and a 12-month high of $115.13. The stock’s 50-day moving average price is $108.95 and its 200-day moving average price is $87.05.

Arcellx (NASDAQ:ACLX) last posted its earnings results on Thursday, February 26th. The company reported ($1.01) EPS for the quarter, hitting analysts’ consensus estimates of ($1.01). The company had revenue of $1.65 million for the quarter, compared to the consensus estimate of $13.40 million. Arcellx had a negative return on equity of 55.42% and a negative net margin of 1,027.26%. As a group, research analysts predict that Arcellx will post -2.91 EPS for the current fiscal year.

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.