Arcellx (NASDAQ:ACLX) Given “Buy” Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of Arcellx (NASDAQ:ACLX) in a research note released on Wednesday morning,Benzinga reports. HC Wainwright currently has a $115.00 price target on the stock.

ACLX has been the topic of a number of other research reports. Cantor Fitzgerald restated a “neutral” rating and issued a $88.00 target price on shares of Arcellx in a research report on Thursday, October 9th. Stifel Nicolaus set a $129.00 price target on Arcellx and gave the company a “buy” rating in a research note on Thursday, October 16th. Wells Fargo & Company initiated coverage on Arcellx in a research report on Monday, December 22nd. They set an “overweight” rating and a $100.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $105.00 target price on shares of Arcellx in a report on Monday, December 8th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $130.00 price target on shares of Arcellx in a research note on Monday, December 8th. Nine investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $112.22.

Arcellx Stock Down 0.1%

NASDAQ:ACLX opened at $69.38 on Wednesday. Arcellx has a twelve month low of $47.86 and a twelve month high of $94.07. The stock’s 50-day simple moving average is $67.80 and its 200 day simple moving average is $74.96. The firm has a market capitalization of $4.01 billion, a PE ratio of -17.65 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). The company had revenue of $4.95 million during the quarter, compared to the consensus estimate of $11.24 million. Arcellx had a negative return on equity of 51.13% and a negative net margin of 607.01%. On average, analysts anticipate that Arcellx will post -1.58 EPS for the current fiscal year.

Insider Buying and Selling at Arcellx

In other news, insider Christopher Heery sold 5,882 shares of the firm’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $68.51, for a total transaction of $402,975.82. Following the completion of the transaction, the insider directly owned 23,749 shares in the company, valued at $1,627,043.99. This trade represents a 19.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 19,790 shares of company stock valued at $1,314,077 over the last ninety days. Corporate insiders own 8.35% of the company’s stock.

Institutional Trading of Arcellx

Several institutional investors have recently added to or reduced their stakes in ACLX. MAI Capital Management acquired a new position in shares of Arcellx in the 3rd quarter worth approximately $26,000. CWM LLC increased its position 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 buying an additional 251 shares during the period. State of Wyoming bought a new position in Arcellx during the second quarter worth $28,000. Ramirez Asset Management Inc. acquired a new position in Arcellx in the third quarter valued at $41,000. Finally, Abich Financial Wealth Management LLC acquired a new position in Arcellx in the third quarter valued at $62,000. 96.03% of the stock is currently owned by institutional investors.

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.