Arcellx, Inc. (NASDAQ:ACLX) Given Average Recommendation of “Hold” by Analysts

Arcellx, Inc. (NASDAQ:ACLX) has earned a consensus rating of “Hold” from the nineteen ratings firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $111.8667.

A number of research analysts recently commented on the stock. Robert W. Baird reiterated a “neutral” rating and issued a $115.00 price target (up from $106.00) on shares of Arcellx in a research note on Monday, February 23rd. Citigroup downgraded shares of Arcellx from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $110.00 to $115.00 in a research report on Tuesday, February 24th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $115.00 target price (down from $127.00) on shares of Arcellx in a research report on Monday, February 23rd. Canaccord Genuity Group set a $115.00 target price on Arcellx in a research note on Monday, February 23rd. Finally, TD Cowen downgraded Arcellx from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 2nd.

Arcellx Price Performance

ACLX stock opened at $114.36 on Thursday. The company has a fifty day moving average price of $79.66 and a two-hundred day moving average price of $78.62. Arcellx has a one year low of $47.86 and a one year high of $114.80. The stock has a market cap of $6.69 billion, a price-to-earnings ratio of -28.10 and a beta of 0.23.

Arcellx (NASDAQ:ACLX) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($1.01) earnings per share for the quarter, meeting the consensus estimate of ($1.01). The company had revenue of $1.65 million for 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%. Research analysts anticipate that Arcellx will post -1.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Rami Elghandour sold 89,916 shares of Arcellx stock in a transaction on Friday, February 27th. The stock was 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 owned 276,051 shares of the company’s stock, valued at approximately $31,447,729.92. This trade represents a 24.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher Heery sold 5,882 shares of the business’s stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $68.51, for a total transaction of $402,975.82. Following the completion of the sale, the insider directly owned 23,749 shares of the company’s stock, valued at approximately $1,627,043.99. The trade was a 19.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 109,366 shares of company stock valued at $11,526,708 in the last three months. Insiders own 8.35% of the company’s stock.

Institutional Trading of Arcellx

A number of institutional investors have recently bought and sold shares of ACLX. T. Rowe Price Investment Management Inc. increased its holdings in shares of Arcellx by 66.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,560,425 shares of the company’s stock worth $688,540,000 after purchasing an additional 4,208,069 shares during the period. Paradigm Biocapital Advisors LP boosted its stake in shares of Arcellx by 23.1% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 5,724,016 shares of the company’s stock valued at $373,206,000 after buying an additional 1,075,000 shares during the period. Vanguard Group Inc. boosted its stake in shares of Arcellx by 4.5% in the fourth quarter. Vanguard Group Inc. now owns 4,081,519 shares of the company’s stock valued at $266,115,000 after buying an additional 174,432 shares during the period. Vestal Point Capital LP grew its position in Arcellx by 134.0% during the fourth quarter. Vestal Point Capital LP now owns 2,925,000 shares of the company’s stock worth $190,710,000 after buying an additional 1,675,000 shares in the last quarter. Finally, State Street Corp grew its position in Arcellx by 31.0% during the fourth quarter. State Street Corp now owns 1,998,503 shares of the company’s stock worth $130,302,000 after buying an additional 472,476 shares in the last quarter. Institutional investors own 96.03% of the company’s stock.

About Arcellx

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.