Arcellx, Inc. (NASDAQ:ACLX) Receives $105.93 Consensus Price Target from Analysts

Arcellx, Inc. (NASDAQ:ACLX - Get Free Report) has earned a consensus rating of "Buy" from the fifteen analysts that are presently covering the firm, Marketbeat Ratings reports. Thirteen equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $105.93.

Several equities analysts have recently weighed in on the stock. Piper Sandler raised their price target on shares of Arcellx from $91.00 to $115.00 and gave the stock an "overweight" rating in a research note on Friday, November 8th. HC Wainwright reissued a "buy" rating and issued a $115.00 target price on shares of Arcellx in a research note on Tuesday, December 10th. Robert W. Baird increased their price target on Arcellx from $77.00 to $106.00 and gave the company an "outperform" rating in a report on Wednesday, November 6th. Truist Financial boosted their price objective on Arcellx from $87.00 to $136.00 and gave the stock a "buy" rating in a research note on Tuesday, November 12th. Finally, UBS Group boosted their price objective on Arcellx from $106.00 to $114.00 and gave the stock a "buy" rating in a research note on Tuesday, December 10th.

Arcellx Trading Up 0.5 %

NASDAQ:ACLX traded up $0.38 during trading hours on Friday, hitting $79.13. 415,593 shares of the stock were exchanged, compared to its average volume of 366,797. The firm's fifty day moving average price is $86.15 and its 200 day moving average price is $75.19. Arcellx has a 52-week low of $47.88 and a 52-week high of $107.37. The company has a market cap of $4.28 billion, a P/E ratio of -111.45 and a beta of 0.25.

Arcellx (NASDAQ:ACLX - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.48) EPS for the quarter, beating the consensus estimate of ($0.54) by $0.06. The firm had revenue of $26.03 million during the quarter, compared to the consensus estimate of $35.21 million. Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. Equities analysts expect that Arcellx will post -1.49 EPS for the current fiscal year.

Insider Transactions at Arcellx

In related news, Director Kavita Patel sold 15,238 shares of the business's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $105.92, for a total value of $1,614,008.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last three months, insiders have sold 53,501 shares of company stock worth $5,517,898. 6.24% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Arcellx

A number of hedge funds and other institutional investors have recently bought and sold shares of ACLX. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Arcellx by 21.7% during the third 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 purchased a new position in Arcellx in the 2nd quarter valued at approximately $27,000. National Bank of Canada FI boosted its position in Arcellx by 50.0% in the 2nd quarter. National Bank of Canada FI now owns 1,500 shares of the company's stock valued at $80,000 after buying an additional 500 shares during the period. High Net Worth Advisory Group LLC grew its stake in shares of Arcellx by 6.3% in the third quarter. High Net Worth Advisory Group LLC now owns 8,500 shares of the company's stock worth $710,000 after acquiring an additional 500 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Arcellx by 1.4% in the second quarter. Principal Financial Group Inc. now owns 37,352 shares of the company's stock valued at $2,061,000 after acquiring an additional 517 shares in the last quarter. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

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).