Arcellx’s (ACLX) “Neutral” Rating Reiterated at Cantor Fitzgerald

Arcellx (NASDAQ:ACLX)‘s stock had its “neutral” rating restated by equities research analysts at Cantor Fitzgerald in a research note issued on Wednesday,Benzinga reports.

A number of other analysts have also weighed in on ACLX. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arcellx in a research note on Monday, April 20th. Guggenheim lowered shares of Arcellx from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $120.00 to $115.00 in a research note on Wednesday, February 25th. TD Cowen lowered shares of Arcellx from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 2nd. Canaccord Genuity Group set a $115.00 price target on shares of Arcellx in a research note on Monday, February 23rd. Finally, Rothschild & Co Redburn lowered shares of Arcellx from a “buy” rating to a “neutral” rating and set a $82.00 price target for the company. in a research note on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, sixteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $111.87.

Arcellx Price Performance

Shares of NASDAQ:ACLX remained flat at $115.07 during trading on Wednesday. 14,666,200 shares of the stock were exchanged, compared to its average volume of 1,498,960. The business’s fifty day moving average is $111.71 and its two-hundred day moving average is $87.66. The firm has a market cap of $6.73 billion, a price-to-earnings ratio of -28.27 and a beta of 0.25. Arcellx has a 12 month low of $47.86 and a 12 month high of $115.13.

Arcellx (NASDAQ:ACLX) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($1.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($1.01). The company had revenue of $1.65 million during the quarter, compared to analyst estimates of $13.40 million. Arcellx had a negative net margin of 1,027.26% and a negative return on equity of 55.42%. On average, research analysts forecast that Arcellx will post -2.91 EPS for the current year.

Insider Buying and Selling

In related news, insider Rami Elghandour sold 89,916 shares of the stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $113.92, for a total transaction of $10,243,230.72. Following the completion of the sale, the insider directly owned 276,051 shares of the company’s stock, valued at $31,447,729.92. This represents a 24.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 8.35% of the stock is currently owned by corporate insiders.

Institutional Trading of Arcellx

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. MAI Capital Management acquired a new stake in Arcellx during the third quarter valued at approximately $26,000. CWM LLC lifted its stake in Arcellx by 267.0% during the third quarter. CWM LLC now owns 345 shares of the company’s stock valued at $28,000 after purchasing an additional 251 shares during the last quarter. State of Wyoming acquired a new stake in Arcellx during the second quarter valued at approximately $28,000. Ramirez Asset Management Inc. acquired a new stake in shares of Arcellx during the third quarter valued at approximately $41,000. Finally, Abich Financial Wealth Management LLC acquired a new stake in shares of Arcellx during the third quarter valued at approximately $62,000. 96.03% of the stock is owned by institutional investors and hedge funds.

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.