Arcellx (NASDAQ:ACLX - Get Free Report) had its target price increased by equities research analysts at Robert W. Baird from $77.00 to $106.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has an "outperform" rating on the stock. Robert W. Baird's target price suggests a potential upside of 13.91% from the company's current price.
Several other equities analysts also recently issued reports on the stock. Morgan Stanley lifted their price target on shares of Arcellx from $81.00 to $106.00 and gave the company an "overweight" rating in a report on Wednesday. Stifel Nicolaus boosted their price objective on shares of Arcellx from $83.00 to $122.00 and gave the stock a "buy" rating in a research note on Friday, October 18th. Canaccord Genuity Group increased their price target on shares of Arcellx from $85.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, October 17th. Redburn Atlantic initiated coverage on shares of Arcellx in a research report on Tuesday, October 8th. They set a "buy" rating and a $109.00 price target on the stock. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $96.00 target price on shares of Arcellx in a report on Thursday, October 31st. Thirteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Arcellx currently has an average rating of "Buy" and an average price target of $95.85.
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Arcellx Price Performance
Shares of Arcellx stock traded up $5.94 on Wednesday, hitting $93.06. The company had a trading volume of 836,268 shares, compared to its average volume of 474,700. The business has a 50-day simple moving average of $81.21 and a 200-day simple moving average of $65.15. Arcellx has a 52 week low of $43.50 and a 52 week high of $97.54. The company has a market cap of $5.00 billion, a PE ratio of -83.77 and a beta of 0.27.
Arcellx (NASDAQ:ACLX - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $22.04 million. Arcellx's quarterly revenue was up 91.5% on a year-over-year basis. On average, equities research analysts predict that Arcellx will post -1.65 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Arcellx news, insider Christopher Heery sold 21,684 shares of Arcellx stock in a transaction 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 sale, the insider now owns 9,278 shares in the company, valued at $659,851.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Michelle Gilson sold 15,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $77.73, for a total transaction of $1,165,950.00. Following the completion of the transaction, the chief financial officer now directly owns 6,915 shares in the company, valued at approximately $537,502.95. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Christopher Heery sold 21,684 shares of the business's stock in a transaction dated 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 completion of the sale, the insider now directly owns 9,278 shares of the company's stock, valued at approximately $659,851.36. This 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 have sold 70,556 shares of company stock worth $5,033,845. 6.24% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of ACLX. Vanguard Group Inc. grew its holdings in Arcellx by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 2,228,856 shares of the company's stock valued at $155,017,000 after buying an additional 167,037 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Arcellx by 6.7% in 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 acquiring an additional 84,373 shares during the last quarter. Great Point Partners LLC raised its stake in shares of Arcellx by 64.0% during the second quarter. Great Point Partners LLC now owns 492,000 shares of the company's stock worth $27,153,000 after buying an additional 192,000 shares during the last quarter. Affinity Asset Advisors LLC boosted its position in shares of Arcellx by 53.3% in the 2nd 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 last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Arcellx by 20.4% in the 2nd quarter. Victory Capital Management Inc. now owns 283,872 shares of the company's stock valued at $15,667,000 after acquiring an additional 48,006 shares during the last quarter. 96.03% of the stock is owned by institutional investors and hedge funds.
Arcellx Company Profile
(
Get Free Report)
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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