Arcellx (NASDAQ:ACLX) Cut to Neutral at Rothschild & Co Redburn

Rothschild & Co Redburn lowered shares of Arcellx (NASDAQ:ACLX) from a buy rating to a neutral rating in a research report sent to investors on Thursday morning, Marketbeat.com reports. The brokerage currently has $82.00 target price on the stock.

Several other research analysts also recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcellx in a report on Wednesday, January 21st. Wells Fargo & Company initiated coverage on Arcellx in a report on Monday, December 22nd. They issued an “overweight” rating and a $100.00 target price for the company. Wolfe Research began coverage on Arcellx in a research report on Tuesday, November 18th. They issued a “peer perform” rating for the company. HC Wainwright restated a “buy” rating and set a $115.00 price target on shares of Arcellx in a report on Wednesday, February 4th. Finally, Stifel Nicolaus set a $129.00 price objective on Arcellx and gave the company a “buy” rating in a research note on Thursday, October 16th. Nine equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $109.20.

Arcellx Trading Down 0.2%

Shares of Arcellx stock opened at $68.50 on Thursday. The firm’s 50 day moving average is $67.44 and its 200 day moving average is $74.88. The firm has a market capitalization of $3.96 billion, a PE ratio of -17.43 and a beta of 0.36. Arcellx has a 1 year low of $47.86 and a 1 year high of $94.07.

Insiders Place Their Bets

In related news, insider Christopher Heery sold 7,437 shares of Arcellx stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $65.51, for a total transaction of $487,197.87. Following the completion of the transaction, the insider owned 29,631 shares of the company’s stock, valued at $1,941,126.81. This trade represents a 20.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 19,790 shares of company stock worth $1,314,077 over the last ninety days. 8.35% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ACLX. MAI Capital Management bought a new stake in shares of Arcellx during the 3rd quarter valued at about $26,000. CWM LLC lifted its stake in Arcellx by 267.0% in the third quarter. CWM LLC now owns 345 shares of the company’s stock valued at $28,000 after buying an additional 251 shares during the period. State of Wyoming bought a new position in shares of Arcellx during the 2nd quarter worth approximately $28,000. Ramirez Asset Management Inc. acquired a new stake in shares of Arcellx during the 3rd quarter worth approximately $41,000. Finally, Abich Financial Wealth Management LLC bought a new stake in shares of Arcellx in the 3rd quarter valued at $62,000. 96.03% of the stock is owned by institutional investors.

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.