Arcellx, Inc. (NASDAQ:ACLX - Get Free Report) was down 7.7% during trading on Monday . The stock traded as low as $62.02 and last traded at $62.74. Approximately 207,700 shares traded hands during trading, a decline of 61% from the average daily volume of 534,357 shares. The stock had previously closed at $67.96.
Analyst Upgrades and Downgrades
ACLX has been the topic of a number of analyst reports. Needham & Company LLC reissued a "buy" rating and issued a $105.00 price target on shares of Arcellx in a research note on Monday, December 9th. HC Wainwright reissued a "buy" rating and issued a $115.00 target price on shares of Arcellx in a research report on Tuesday, December 10th. Finally, UBS Group boosted their price target on shares of Arcellx from $106.00 to $114.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. Thirteen investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $108.46.
Check Out Our Latest Stock Analysis on ACLX
Arcellx Stock Down 6.2 %
The stock's 50 day moving average price is $66.67 and its two-hundred day moving average price is $77.26. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of -82.52 and a beta of 0.32.
Arcellx (NASDAQ:ACLX - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.87) earnings per share for the quarter, missing analysts' consensus estimates of ($0.63) by ($0.24). The firm had revenue of $15.27 million for the quarter, compared to analysts' expectations of $27.42 million. Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. On average, equities analysts expect that Arcellx, Inc. will post -1.58 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, Director Kavita Patel sold 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $71.64, for a total value of $107,460.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Rami Elghandour sold 38,300 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $62.02, for a total value of $2,375,366.00. Following the sale, the insider now directly owns 149,186 shares of the company's stock, valued at $9,252,515.72. The trade was a 20.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 61,069 shares of company stock valued at $3,919,051 over the last ninety days. Corporate insiders own 6.24% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Headlands Technologies LLC acquired a new position in Arcellx during the 4th quarter worth $41,000. GF Fund Management CO. LTD. acquired a new stake in Arcellx in the 4th quarter valued at approximately $87,000. KBC Group NV increased its position in Arcellx by 37.3% in the 4th quarter. KBC Group NV now owns 1,388 shares of the company's stock worth $106,000 after buying an additional 377 shares during the period. Quarry LP acquired a new position in shares of Arcellx during the third quarter worth approximately $125,000. Finally, Avanza Fonder AB bought a new stake in shares of Arcellx in the fourth quarter valued at approximately $184,000. 96.03% of the stock is currently owned by institutional investors and hedge funds.
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).
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