Arcellx, Inc. (NASDAQ:ACLX) Receives Average Rating of “Hold” from Analysts

Arcellx, Inc. (NASDAQ:ACLX) has earned an average recommendation of “Hold” from the nineteen ratings firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $111.8667.

A number of research analysts have issued reports on the company. Stifel Nicolaus restated a “hold” rating and issued a $115.00 price objective (down from $127.00) on shares of Arcellx in a research note on Monday, February 23rd. HC Wainwright lowered shares of Arcellx from a “buy” rating to a “neutral” rating and set a $115.00 price target for the company. in a research report on Monday, February 23rd. Leerink Partners restated a “market perform” rating and set a $115.00 price objective on shares of Arcellx in a report on Tuesday, February 24th. Robert W. Baird reaffirmed a “neutral” rating and issued a $115.00 price objective (up from $106.00) on shares of Arcellx in a research report on Monday, February 23rd. Finally, UBS Group downgraded shares of Arcellx from a “buy” rating to a “neutral” rating and increased their target price for the company from $100.00 to $115.00 in a research report on Tuesday, February 24th.

Insider Buying and Selling at Arcellx

In other Arcellx news, insider Rami Elghandour sold 89,916 shares of the stock in a transaction on Friday, February 27th. The stock was sold at an average price of $113.92, for a total transaction of $10,243,230.72. Following the completion of the transaction, the insider directly owned 276,051 shares of the company’s stock, valued at approximately $31,447,729.92. This represents a 24.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christopher Heery sold 7,437 shares of the company’s stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $65.51, for a total value 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 position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 109,366 shares of company stock valued at $11,526,708. 8.35% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Arcellx

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Arcellx by 5.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,753 shares of the company’s stock worth $1,893,000 after purchasing an additional 1,390 shares in the last quarter. Empowered Funds LLC bought a new position in Arcellx in the 1st quarter worth approximately $1,768,000. Intech Investment Management LLC grew its stake in Arcellx by 27.7% in the 1st quarter. Intech Investment Management LLC now owns 21,967 shares of the company’s stock valued at $1,441,000 after buying an additional 4,760 shares in the last quarter. Teacher Retirement System of Texas raised 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. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Arcellx during the 2nd quarter valued at $563,000. Institutional investors own 96.03% of the company’s stock.

Arcellx Stock Performance

NASDAQ:ACLX opened at $114.30 on Thursday. Arcellx has a 52 week low of $47.86 and a 52 week high of $114.65. The firm has a 50-day moving average price of $74.73 and a two-hundred day moving average price of $77.12. The firm has a market cap of $6.68 billion, a price-to-earnings ratio of -28.08 and a beta of 0.23.

Arcellx (NASDAQ:ACLX) last released its earnings results on Thursday, February 26th. The company reported ($1.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($1.01). The company had revenue of $1.65 million during the quarter, compared to analyst estimates 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, sell-side analysts forecast that Arcellx will post -1.58 earnings per share for the current year.

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.