Arcellx (NASDAQ:ACLX – Get Free Report) posted its quarterly earnings results on Thursday. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.51) by $0.37, Briefing.com reports. Arcellx had a negative return on equity of 20.96% and a negative net margin of 64.08%. The company had revenue of $39.26 million during the quarter, compared to the consensus estimate of $20.67 million. During the same quarter in the prior year, the company earned ($0.58) EPS. The firm’s quarterly revenue was up 119.2% compared to the same quarter last year.
Arcellx Price Performance
Shares of Arcellx stock traded down $4.03 on Friday, reaching $48.70. 454,429 shares of the company were exchanged, compared to its average volume of 446,929. The stock’s 50 day moving average price is $61.92 and its 200-day moving average price is $56.69. The company has a market cap of $2.60 billion, a P/E ratio of -32.73 and a beta of 0.24. Arcellx has a 1-year low of $30.74 and a 1-year high of $75.10.
Insiders Place Their Bets
In other news, insider Christopher Heery sold 18,168 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $51.33, for a total transaction of $932,563.44. Following the completion of the sale, the insider now owns 8,938 shares in the company, valued at approximately $458,787.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Arcellx news, Director Olivia C. Ware sold 9,402 shares of the company’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $55.55, for a total value of $522,281.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Christopher Heery sold 18,168 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $51.33, for a total value of $932,563.44. Following the completion of the transaction, the insider now owns 8,938 shares of the company’s stock, valued at $458,787.54. The disclosure for this sale can be found here. Insiders sold 620,526 shares of company stock worth $43,157,182 in the last 90 days. Corporate insiders own 6.24% of the company’s stock.
Wall Street Analysts Forecast Growth
Read Our Latest Analysis on ACLX
About Arcellx
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).
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