Arcellx (ACLX) – Research Analysts’ Weekly Ratings Changes

Arcellx (NASDAQ: ACLX) has recently received a number of price target changes and ratings updates:

• 11/8/2024 – Arcellx had its price target raised by analysts at Piper Sandler from $91.00 to $115.00. They now have an “overweight” rating on the stock.
• 11/6/2024 – Arcellx had its price target raised by analysts at Morgan Stanley from $81.00 to $106.00. They now have an “overweight” rating on the stock.
• 11/6/2024 – Arcellx had its price target raised by analysts at Robert W. Baird from $77.00 to $106.00. They now have an “outperform” rating on the stock.
• 11/6/2024 – Arcellx had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $96.00 price target on the stock.
• 11/6/2024 – Arcellx had its price target raised by analysts at HC Wainwright from $80.00 to $95.00. They now have a “buy” rating on the stock.
• 11/6/2024 – Arcellx had its price target raised by analysts at Bank of America Co. from $84.00 to $100.00. They now have a “buy” rating on the stock.
• 10/31/2024 – Arcellx had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $96.00 price target on the stock.
• 10/18/2024 – Arcellx had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $96.00 price target on the stock, up previously from $81.00.
• 10/18/2024 – Arcellx had its price target raised by analysts at Stifel Nicolaus from $83.00 to $122.00. They now have a “buy” rating on the stock.
• 10/17/2024 – Arcellx had its price target raised by analysts at Canaccord Genuity Group Inc. from $85.00 to $115.00. They now have a “buy” rating on the stock.
• 10/8/2024 – Arcellx is now covered by analysts at Redburn Atlantic. They set a “buy” rating and a $109.00 price target on the stock.

Arcellx Stock Performance

Shares of NASDAQ:ACLX traded up $3.47 during midday trading on Monday, hitting $106.53. 694,653 shares of the company’s stock traded hands, compared to its average volume of 479,690. The firm’s fifty day moving average price is $83.01 and its two-hundred day moving average price is $66.11. The company has a market cap of $5.73 billion, a PE ratio of -150.04 and a beta of 0.27. Arcellx, Inc. has a twelve month low of $43.83 and a twelve month high of $107.35.

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

Insiders Place Their Bets

In other news, insider Christopher Heery sold 21,684 shares of Arcellx stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $71.12, for a total value of $1,542,166.08. Following the transaction, the insider now directly owns 9,278 shares of the company’s stock, valued at $659,851.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Kavita Patel sold 1,500 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $89.69, for a total transaction of $134,535.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christopher Heery sold 21,684 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $71.12, for a total value of $1,542,166.08. Following the transaction, the insider now owns 9,278 shares of the company’s stock, valued at approximately $659,851.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,556 shares of company stock worth $5,033,845. 6.24% of the stock is owned by company insiders.

Institutional Trading of Arcellx

A number of hedge funds have recently bought and sold shares of ACLX. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Arcellx by 21.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,944 shares of the company’s stock worth $161,000 after purchasing an additional 347 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Arcellx in the 2nd quarter valued at approximately $27,000. National Bank of Canada FI increased its holdings in Arcellx by 50.0% during the 2nd quarter. National Bank of Canada FI now owns 1,500 shares of the company’s stock worth $80,000 after purchasing an additional 500 shares in the last quarter. High Net Worth Advisory Group LLC lifted its stake in Arcellx by 6.3% in the 3rd quarter. High Net Worth Advisory Group LLC now owns 8,500 shares of the company’s stock valued at $710,000 after acquiring an additional 500 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Arcellx by 1.4% during the 2nd quarter. Principal Financial Group Inc. now owns 37,352 shares of the company’s stock worth $2,061,000 after acquiring an additional 517 shares in the last quarter. 96.03% of the stock is owned by institutional investors.

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).