Arcellx, Inc. (NASDAQ:ACLX) Short Interest Down 20.7% in April

Arcellx, Inc. (NASDAQ:ACLX) saw a large drop in short interest during the month of April. As of April 15th, there was short interest totaling 1,800,274 shares, a drop of 20.7% from the March 31st total of 2,269,775 shares. Currently, 3.4% of the shares of the company are sold short. Based on an average trading volume of 714,147 shares, the short-interest ratio is currently 2.5 days.

Insider Transactions at Arcellx

In related news, insider Rami Elghandour sold 89,916 shares of the firm’s stock in a transaction on 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 $31,447,729.92. This trade represents a 24.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 8.35% of the stock is owned by company insiders.

Institutional Investors Weigh In On Arcellx

Several institutional investors have recently bought and sold shares of the company. SBI Securities Co. Ltd. boosted its holdings in Arcellx by 4.6% in the 4th quarter. SBI Securities Co. Ltd. now owns 3,516 shares of the company’s stock worth $229,000 after buying an additional 154 shares during the last quarter. CWM LLC boosted its holdings in shares of Arcellx by 267.0% during the 3rd quarter. CWM LLC now owns 345 shares of the company’s stock worth $28,000 after purchasing an additional 251 shares during the last quarter. Integrated Wealth Concepts LLC boosted its holdings in shares of Arcellx by 9.0% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 3,423 shares of the company’s stock worth $281,000 after purchasing an additional 283 shares during the last quarter. Advisory Alpha LLC boosted its holdings in shares of Arcellx by 10.4% during the 4th quarter. Advisory Alpha LLC now owns 3,313 shares of the company’s stock worth $216,000 after purchasing an additional 313 shares during the last quarter. Finally, MAI Capital Management acquired a new position in shares of Arcellx during the 3rd quarter worth approximately $26,000. 96.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ACLX shares. Canaccord Genuity Group set a $115.00 target price on Arcellx in a research note on Monday, February 23rd. Wells Fargo & Company lowered Arcellx from an “overweight” rating to an “equal weight” rating and set a $115.00 price objective for the company. in a research note on Monday, February 23rd. Evercore set a $115.00 price objective on Arcellx in a research note on Monday, February 23rd. HC Wainwright lowered Arcellx from a “buy” rating to a “neutral” rating and set a $115.00 price objective for the company. in a research note on Monday, February 23rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Arcellx in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, sixteen have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $111.87.

Arcellx Stock Performance

Shares of NASDAQ:ACLX remained flat at $115.07 during trading on Friday. The stock had a trading volume of 14,666,200 shares, compared to its average volume of 1,498,960. Arcellx has a 52-week low of $47.86 and a 52-week high of $115.13. The stock has a market cap of $6.73 billion, a price-to-earnings ratio of -28.27 and a beta of 0.25. The stock has a fifty day simple moving average of $113.60 and a 200-day simple moving average of $88.04.

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