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

Arcellx, Inc. (NASDAQ:ACLX) has received a consensus recommendation of “Hold” from the nineteen brokerages that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, sixteen have issued a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $111.8667.

A number of brokerages have recently issued reports on ACLX. William Blair lowered shares of Arcellx from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 23rd. Guggenheim cut shares of Arcellx from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $120.00 to $115.00 in a research report on Wednesday, February 25th. Truist Financial raised Arcellx from a “hold” rating to a “strong-buy” rating in a report on Friday, March 20th. Canaccord Genuity Group set a $115.00 price objective on Arcellx in a research report on Monday, February 23rd. Finally, Leerink Partners reissued a “market perform” rating and issued a $115.00 target price on shares of Arcellx in a research note on Tuesday, February 24th.

Insider Activity

In related news, insider Rami Elghandour sold 89,916 shares of Arcellx stock in a transaction dated 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 sale, the insider directly owned 276,051 shares in the company, valued at $31,447,729.92. This trade 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 can be accessed through the SEC website. Also, insider Christopher Heery sold 7,437 shares of the business’s stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $65.51, for a total value of $487,197.87. Following the sale, the insider directly owned 29,631 shares of the company’s stock, valued at $1,941,126.81. This represents a 20.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 109,366 shares of company stock worth $11,526,708. 8.35% of the stock is owned by company insiders.

Hedge Funds Weigh In On Arcellx

A number of hedge funds and other institutional investors have recently bought and sold shares of ACLX. MAI Capital Management bought a new stake in shares of Arcellx during the 3rd quarter valued at $26,000. CWM LLC boosted its position in shares of Arcellx by 267.0% in 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. State of Wyoming bought a new position in shares of Arcellx in the 2nd quarter worth $28,000. Ramirez Asset Management Inc. acquired a new stake in shares of Arcellx during the third quarter worth $41,000. Finally, Abich Financial Wealth Management LLC acquired a new stake in shares of Arcellx during the third quarter worth $62,000. 96.03% of the stock is owned by institutional investors.

Arcellx Stock Performance

Arcellx stock opened at $114.77 on Monday. The firm has a market cap of $6.71 billion, a P/E ratio of -28.20 and a beta of 0.25. The business’s fifty day moving average is $95.96 and its two-hundred day moving average is $83.63. Arcellx has a 52 week low of $47.86 and a 52 week high of $114.94.

Arcellx (NASDAQ:ACLX) last released its quarterly earnings results on Thursday, February 26th. The company reported ($1.01) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($1.01). The business had revenue of $1.65 million during the quarter, compared to analysts’ expectations of $13.40 million. Arcellx had a negative return on equity of 55.42% and a negative net margin of 1,027.26%. On average, equities research analysts predict 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.