Arcellx (NASDAQ:ACLX) Stock Rating Lowered by Cantor Fitzgerald

Arcellx (NASDAQ:ACLX) was downgraded by research analysts at Cantor Fitzgerald from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, Marketbeat reports. They presently have a $88.00 price objective on the stock. Cantor Fitzgerald’s target price points to a potential upside of 1.38% from the company’s previous close.

Several other equities research analysts have also weighed in on the company. Scotiabank upped their price objective on Arcellx from $93.00 to $133.00 and gave the company a “sector outperform” rating in a research note on Thursday, July 31st. HC Wainwright reissued a “buy” rating and issued a $115.00 target price on shares of Arcellx in a report on Monday, June 16th. Citigroup assumed coverage on Arcellx in a report on Tuesday, June 17th. They issued a “buy” rating and a $110.00 target price for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Arcellx in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Arcellx currently has a consensus rating of “Moderate Buy” and a consensus price target of $112.69.

Arcellx Stock Down 1.8%

Shares of ACLX opened at $86.80 on Thursday. Arcellx has a 12-month low of $47.86 and a 12-month high of $107.37. The firm has a market capitalization of $4.81 billion, a price-to-earnings ratio of -25.38 and a beta of 0.31. The stock’s 50-day moving average price is $75.42 and its 200 day moving average price is $68.02.

Arcellx (NASDAQ:ACLX) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.94) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.03) by $0.09. Arcellx had a negative return on equity of 43.04% and a negative net margin of 329.93%.The firm had revenue of $7.55 million for the quarter, compared to analyst estimates of $16.76 million. Equities research analysts expect that Arcellx will post -1.58 EPS for the current year.

Insider Activity at Arcellx

In other news, insider Christopher Heery sold 21,034 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $81.28, for a total value of $1,709,643.52. Following the transaction, the insider directly owned 624 shares of the company’s stock, valued at $50,718.72. The trade was a 97.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders sold 37,146 shares of company stock valued at $3,000,136. 8.35% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Teacher Retirement System of Texas lifted its holdings in Arcellx by 1.7% during the 2nd quarter. Teacher Retirement System of Texas now owns 8,883 shares of the company’s stock worth $585,000 after buying an additional 151 shares in the last quarter. Amalgamated Bank lifted its holdings in Arcellx by 12.0% during the 1st quarter. Amalgamated Bank now owns 1,508 shares of the company’s stock worth $99,000 after buying an additional 161 shares in the last quarter. Xponance Inc. lifted its holdings in Arcellx by 6.2% during the 1st quarter. Xponance Inc. now owns 3,278 shares of the company’s stock worth $215,000 after buying an additional 190 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in Arcellx by 7.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 3,428 shares of the company’s stock worth $226,000 after buying an additional 228 shares in the last quarter. Finally, GF Fund Management CO. LTD. lifted its holdings in Arcellx by 21.9% during the 1st quarter. GF Fund Management CO. LTD. now owns 1,384 shares of the company’s stock worth $91,000 after buying an additional 249 shares in the last quarter. Institutional investors and hedge funds own 96.03% of the company’s stock.

Arcellx Company Profile

Arcellx, Inc, together with its subsidiary, engages in the development of various immunotherapies for patients with cancer and other incurable diseases in the United States. The company’s lead ddCAR product candidate is anitocabtagene autoleucel, which is in phase 2 clinical trial for the treatment of patients with relapsed or refractory multiple myeloma (rrMM).