Arcellx (NASDAQ:ACLX) PT Raised to $122.00 at Stifel Nicolaus

Arcellx (NASDAQ:ACLX) had its target price upped by Stifel Nicolaus from $83.00 to $122.00 in a research report report published on Friday, MarketBeat reports. They currently have a buy rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Redburn Atlantic started coverage on shares of Arcellx in a report on Tuesday, October 8th. They issued a “buy” rating and a $109.00 price objective for the company. Canaccord Genuity Group upped their price target on shares of Arcellx from $85.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcellx in a report on Monday, September 9th. Finally, Needham & Company LLC reissued a “buy” rating and set a $81.00 target price on shares of Arcellx in a report on Friday, August 9th. Thirteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $88.50.

Arcellx Trading Down 6.8 %

ACLX opened at $90.28 on Friday. The business’s 50 day moving average is $76.75 and its 200-day moving average is $62.90. The stock has a market cap of $4.83 billion, a PE ratio of -87.65 and a beta of 0.25. Arcellx has a twelve month low of $30.88 and a twelve month high of $97.54.

Arcellx (NASDAQ:ACLX) last announced its earnings results on Thursday, August 8th. The company reported ($0.51) earnings per share for the quarter, beating the consensus estimate of ($0.52) by $0.01. Arcellx had a negative return on equity of 12.42% and a negative net margin of 37.23%. The firm had revenue of $27.38 million for the quarter, compared to the consensus estimate of $22.04 million. The company’s revenue was up 91.5% compared to the same quarter last year. As a group, analysts forecast that Arcellx will post -1.65 EPS for the current year.

Insider Transactions at Arcellx

In related news, insider Christopher Heery sold 27,451 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $67.03, for a total value of $1,840,040.53. Following the completion of the transaction, the insider now owns 9,278 shares in the company, valued at $621,904.34. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Arcellx news, Director Kavita Patel sold 1,500 shares of Arcellx stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $74.41, for a total transaction of $111,615.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Christopher Heery sold 27,451 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $67.03, for a total value of $1,840,040.53. Following the completion of the sale, the insider now owns 9,278 shares of the company’s stock, valued at $621,904.34. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 70,556 shares of company stock valued at $4,992,265 in the last three months. 6.24% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ACLX. Great Point Partners LLC boosted its position in Arcellx by 64.0% during the 2nd quarter. Great Point Partners LLC now owns 492,000 shares of the company’s stock worth $27,153,000 after acquiring an additional 192,000 shares during the period. Bamco Inc. NY lifted its position in shares of Arcellx by 292.1% in the first quarter. Bamco Inc. NY now owns 248,993 shares of the company’s stock worth $17,317,000 after purchasing an additional 185,493 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Arcellx by 8.1% in the first quarter. Vanguard Group Inc. now owns 2,228,856 shares of the company’s stock worth $155,017,000 after purchasing an additional 167,037 shares in the last quarter. Affinity Asset Advisors LLC boosted its holdings in shares of Arcellx by 53.3% during the second quarter. Affinity Asset Advisors LLC now owns 460,000 shares of the company’s stock worth $25,387,000 after purchasing an additional 160,000 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in Arcellx by 6.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,344,553 shares of the company’s stock valued at $93,514,000 after purchasing an additional 84,373 shares in the last quarter. Hedge funds and other institutional investors 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).