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

Shares of Arcellx, Inc. (NASDAQ:ACLX) have received an average rating of “Moderate Buy” from the fifteen ratings firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, twelve have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $112.6923.

ACLX has been the topic of a number of research reports. Citigroup initiated coverage on Arcellx in a research report on Tuesday, June 17th. They set a “buy” rating and a $110.00 price target on the stock. Scotiabank raised their price target on Arcellx from $93.00 to $133.00 and gave the company a “sector outperform” rating in a research report on Thursday, July 31st. Cantor Fitzgerald restated a “neutral” rating and set a $88.00 price target on shares of Arcellx in a research report on Thursday. HC Wainwright restated a “buy” rating and set a $115.00 price target on shares of Arcellx in a research report on Monday, June 16th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Arcellx in a research report on Wednesday.

Arcellx Trading Down 1.8%

Shares of Arcellx stock opened at $86.80 on Monday. The company has a market capitalization of $4.81 billion, a P/E ratio of -25.38 and a beta of 0.31. The stock has a fifty day simple moving average of $75.42 and a 200 day simple moving average of $68.02. Arcellx has a 12-month low of $47.86 and a 12-month high of $107.37.

Arcellx (NASDAQ:ACLX) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.94) EPS for the quarter, beating analysts’ consensus estimates of ($1.03) by $0.09. Arcellx had a negative return on equity of 43.04% and a negative net margin of 329.93%.The company had revenue of $7.55 million during the quarter, compared to the consensus estimate of $16.76 million. On average, analysts predict that Arcellx will post -1.58 EPS for the current year.

Insider Activity at Arcellx

In other news, insider Christopher Heery sold 21,034 shares of Arcellx stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $81.28, for a total value of $1,709,643.52. Following the transaction, the insider owned 624 shares in the company, valued at approximately $50,718.72. The trade was a 97.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 37,146 shares of company stock valued at $3,000,136 in the last quarter. 8.35% of the stock is currently owned by insiders.

Institutional Trading of Arcellx

Several large investors have recently modified their holdings of the business. Teacher Retirement System of Texas grew its stake in shares of Arcellx by 1.7% in the second quarter. Teacher Retirement System of Texas now owns 8,883 shares of the company’s stock worth $585,000 after purchasing an additional 151 shares during the last quarter. Amalgamated Bank grew its stake in shares of Arcellx by 12.0% in the first quarter. Amalgamated Bank now owns 1,508 shares of the company’s stock worth $99,000 after purchasing an additional 161 shares during the last quarter. Xponance Inc. grew its stake in shares of Arcellx by 6.2% in the first quarter. Xponance Inc. now owns 3,278 shares of the company’s stock worth $215,000 after purchasing an additional 190 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of Arcellx by 7.1% in 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 during the last quarter. Finally, GF Fund Management CO. LTD. grew its stake in shares of Arcellx by 21.9% in the first quarter. GF Fund Management CO. LTD. now owns 1,384 shares of the company’s stock worth $91,000 after purchasing an additional 249 shares during the last quarter. 96.03% of the stock is owned by institutional investors.

Arcellx Company Profile

Arcellx, Inc, together with its subsidiary, engages in the development of various immunotherapies for patients with cancer and other incurable diseases in the United States. The company’s lead ddCAR product candidate is anitocabtagene autoleucel, which is in phase 2 clinical trial for the treatment of patients with relapsed or refractory multiple myeloma (rrMM).