Arcellx (NASDAQ:ACLX) Downgraded by Rothschild & Co Redburn to Neutral

Rothschild & Co Redburn cut shares of Arcellx (NASDAQ:ACLX) from a buy rating to a neutral rating in a report issued on Thursday morning, MarketBeat reports. They currently have $82.00 price objective on the stock.

A number of other analysts also recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and set a $105.00 price target on shares of Arcellx in a report on Thursday, February 5th. Guggenheim reiterated a “buy” rating on shares of Arcellx in a research report on Monday, November 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcellx in a research note on Wednesday, January 21st. Citigroup restated a “buy” rating on shares of Arcellx in a research report on Monday, November 24th. Finally, Wells Fargo & Company initiated coverage on Arcellx in a research note on Monday, December 22nd. They issued an “overweight” rating and a $100.00 price target on the stock. Nine equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $109.20.

Arcellx Trading Down 1.8%

Shares of ACLX opened at $68.65 on Thursday. Arcellx has a 12-month low of $47.86 and a 12-month high of $94.07. The firm has a market capitalization of $3.97 billion, a P/E ratio of -17.47 and a beta of 0.36. The firm has a 50-day moving average price of $67.46 and a 200 day moving average price of $74.86.

Insider Buying and Selling

In other Arcellx news, insider Christopher Heery sold 7,437 shares of the company’s stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $65.51, for a total transaction of $487,197.87. Following the transaction, the insider directly owned 29,631 shares in the company, valued at $1,941,126.81. This represents a 20.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 19,790 shares of company stock worth $1,314,077 in the last 90 days. 8.35% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arcellx

Several institutional investors and hedge funds have recently modified their holdings of the company. Teacher Retirement System of Texas boosted its holdings in Arcellx by 1.7% during the 2nd quarter. Teacher Retirement System of Texas now owns 8,883 shares of the company’s stock valued at $585,000 after acquiring an additional 151 shares during the period. SBI Securities Co. Ltd. increased its stake in Arcellx by 4.6% during the fourth quarter. SBI Securities Co. Ltd. now owns 3,516 shares of the company’s stock worth $229,000 after purchasing an additional 154 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in shares of Arcellx by 7.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 3,428 shares of the company’s stock worth $226,000 after purchasing an additional 228 shares in the last quarter. CWM LLC lifted 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 purchasing an additional 251 shares in the last quarter. Finally, Integrated Wealth Concepts LLC boosted its stake in shares of Arcellx by 9.0% in the third quarter. Integrated Wealth Concepts LLC now owns 3,423 shares of the company’s stock valued at $281,000 after purchasing an additional 283 shares during the period. Hedge funds and other 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.