Arcellx, Inc. (NASDAQ:ACLX - Get Free Report) shares saw an uptick in trading volume on Monday . 636,156 shares were traded during trading, an increase of 56% from the previous session's volume of 409,059 shares.The stock last traded at $74.60 and had previously closed at $79.13.
Wall Street Analysts Forecast Growth
ACLX has been the topic of several research reports. Morgan Stanley raised their target price on Arcellx from $81.00 to $106.00 and gave the company an "overweight" rating in a research report on Wednesday, November 6th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Arcellx in a report on Monday, September 9th. Bank of America boosted their price target on shares of Arcellx from $84.00 to $100.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. Needham & Company LLC reaffirmed a "buy" rating and issued a $105.00 target price on shares of Arcellx in a research report on Monday, December 9th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $115.00 price objective on shares of Arcellx in a research report on Tuesday, December 10th. Thirteen equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $105.93.
Read Our Latest Report on ACLX
Arcellx Trading Down 5.2 %
The firm has a market capitalization of $4.06 billion, a PE ratio of -105.65 and a beta of 0.33. The company has a fifty day moving average price of $85.95 and a two-hundred day moving average price of $75.49.
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 analysts' consensus estimates of ($0.54) by $0.06. Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. The company had revenue of $26.03 million for the quarter, compared to analyst estimates of $35.21 million. As a group, equities research analysts predict that Arcellx, Inc. will post -1.49 earnings per share for the current year.
Insider Buying and Selling at Arcellx
In other news, insider Christopher Heery sold 3,301 shares of Arcellx stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $79.55, for a total transaction of $262,594.55. Following the completion of the transaction, the insider now owns 35,517 shares of the company's stock, valued at $2,825,377.35. The trade was a 8.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Kavita Patel sold 15,238 shares of Arcellx stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $105.92, for a total transaction of $1,614,008.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,863 shares of company stock valued at $6,016,710. 6.24% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. First Turn Management LLC acquired a new stake in Arcellx in the third quarter valued at approximately $17,896,000. Charles Schwab Investment Management Inc. lifted its stake in Arcellx by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 328,093 shares of the company's stock worth $27,399,000 after purchasing an additional 14,200 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of Arcellx by 37.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 27,896 shares of the company's stock valued at $2,330,000 after buying an additional 7,534 shares during the period. Lord Abbett & CO. LLC grew its holdings in shares of Arcellx by 2.1% during the third quarter. Lord Abbett & CO. LLC now owns 891,848 shares of the company's stock valued at $74,478,000 after purchasing an additional 18,004 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in Arcellx during the 3rd quarter worth $800,000. 96.03% of the stock is owned by hedge funds and other institutional investors.
About Arcellx
(
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).
Further Reading
Before you consider Arcellx, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Arcellx wasn't on the list.
While Arcellx currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Click the link below to learn more about using beta to protect yourself.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
