Arcellx (NASDAQ:ACLX) Price Target Lowered to $35.00 at SVB Leerink

Arcellx (NASDAQ:ACLXGet Rating) had its price objective decreased by SVB Leerink to $35.00 in a research note published on Thursday morning, Stock Target Advisor reports.

Several other equities analysts have also issued reports on the company. Needham & Company LLC began coverage on Arcellx in a research report on Thursday, October 27th. They issued a buy rating and a $31.00 price target for the company. Guggenheim began coverage on Arcellx in a research report on Monday, October 31st. They issued a buy rating and a $36.00 price target for the company. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of Buy and a consensus price target of $31.67.

Arcellx Price Performance

ACLX opened at $20.89 on Thursday. The stock has a 50-day moving average price of $20.11 and a 200-day moving average price of $18.03. The company has a debt-to-equity ratio of 0.11, a current ratio of 6.48 and a quick ratio of 6.48. The firm has a market cap of $915.40 million and a PE ratio of -0.47. Arcellx has a 1 year low of $6.03 and a 1 year high of $26.91.

Institutional Investors Weigh In On Arcellx

A number of large investors have recently made changes to their positions in the company. SR One Capital Management LP bought a new position in shares of Arcellx during the 1st quarter valued at approximately $77,110,000. Novo Holdings A S bought a new position in shares of Arcellx during the 1st quarter valued at approximately $56,317,000. Cormorant Asset Management LP grew its stake in shares of Arcellx by 99.9% during the 3rd quarter. Cormorant Asset Management LP now owns 3,049,173 shares of the company’s stock valued at $57,233,000 after acquiring an additional 1,524,173 shares during the period. Perceptive Advisors LLC lifted its holdings in Arcellx by 115.9% in the 3rd quarter. Perceptive Advisors LLC now owns 2,465,405 shares of the company’s stock worth $46,276,000 after purchasing an additional 1,323,415 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in Arcellx by 199.8% in the 3rd quarter. BlackRock Inc. now owns 1,806,103 shares of the company’s stock worth $33,902,000 after purchasing an additional 1,203,592 shares in the last quarter. 92.30% of the stock is currently owned by institutional investors.

About Arcellx

(Get Rating)

Arcellx, Inc, a clinical-stage biotechnology company, engages in the development of various immunotherapies for patients with cancer and other incurable diseases. The company's lead ddCAR product candidate is CART-ddBCMA, which is in phase 1 clinical trial for the treatment of patients with relapsed or refractory (r/r) multiple myeloma (MM).

Featured Stories

Analyst Recommendations for Arcellx (NASDAQ:ACLX)

Receive News & Ratings for Arcellx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arcellx and related companies with MarketBeat.com's FREE daily email newsletter.