HC Wainwright Estimates Arcellx's Q3 Earnings (NASDAQ:ACLX)

Arcellx, Inc. (NASDAQ:ACLX - Free Report) - Equities researchers at HC Wainwright lifted their Q3 2024 earnings estimates for Arcellx in a research note issued to investors on Tuesday, November 5th. HC Wainwright analyst E. Bodnar now anticipates that the company will earn ($0.66) per share for the quarter, up from their previous forecast of ($0.68). HC Wainwright currently has a "Buy" rating and a $95.00 target price on the stock. The consensus estimate for Arcellx's current full-year earnings is ($1.65) per share. HC Wainwright also issued estimates for Arcellx's Q4 2024 earnings at ($0.57) EPS, FY2024 earnings at ($1.87) EPS, FY2025 earnings at ($3.11) EPS, FY2026 earnings at ($5.00) EPS, FY2027 earnings at ($2.79) EPS and FY2028 earnings at $0.59 EPS.

Arcellx (NASDAQ:ACLX - Get Free Report) last posted 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. The firm had revenue of $27.38 million during the quarter, compared to analysts' expectations of $22.04 million. Arcellx had a negative return on equity of 12.42% and a negative net margin of 37.23%. The firm's revenue was up 91.5% on a year-over-year basis.

Several other brokerages have also recently commented on ACLX. Bank of America boosted their price target on shares of Arcellx from $84.00 to $100.00 and gave the stock a "buy" rating in a research report on Wednesday. Stifel Nicolaus raised their target price on shares of Arcellx from $83.00 to $122.00 and gave the company a "buy" rating in a research note on Friday, October 18th. Robert W. Baird raised their target price on shares of Arcellx from $77.00 to $106.00 and gave the company an "outperform" rating in a research note on Wednesday. Redburn Atlantic initiated coverage on Arcellx in a research note on Tuesday, October 8th. They issued a "buy" rating and a $109.00 price target on the stock. Finally, Piper Sandler raised their target price on shares of Arcellx from $91.00 to $115.00 and gave the stock an "overweight" rating in a research note on Friday. Thirteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $99.31.

Arcellx Trading Up 4.9 %

Shares of ACLX stock traded up $4.90 during trading hours on Friday, hitting $104.06. 701,844 shares of the company were exchanged, compared to its average volume of 478,002. The company has a market capitalization of $5.59 billion, a PE ratio of -95.35 and a beta of 0.27. Arcellx has a 52 week low of $43.50 and a 52 week high of $106.24. The business has a 50 day moving average of $82.32 and a two-hundred day moving average of $65.58.

Insiders Place Their Bets

In other Arcellx news, insider Christopher Heery sold 27,451 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $67.03, for a total transaction of $1,840,040.53. Following the completion of the sale, the insider now directly owns 9,278 shares in the company, valued at approximately $621,904.34. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Christopher Heery sold 27,451 shares of Arcellx stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $67.03, for a total value of $1,840,040.53. Following the completion of the sale, the insider now owns 9,278 shares of the company's stock, valued at approximately $621,904.34. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 disclosure for this sale can be found here. Insiders sold a total of 70,556 shares of company stock valued at $5,033,845 in the last 90 days. Corporate insiders own 6.24% of the company's stock.

Institutional Investors Weigh In On Arcellx

A number of institutional investors have recently added to or reduced their stakes in ACLX. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Arcellx by 21.7% in 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 during the period. Quest Partners LLC purchased a new position in Arcellx during the 2nd quarter valued at about $27,000. National Bank of Canada FI grew its stake in Arcellx by 50.0% during the second quarter. National Bank of Canada FI now owns 1,500 shares of the company's stock valued at $80,000 after acquiring an additional 500 shares in the last quarter. High Net Worth Advisory Group LLC boosted its holdings 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 purchasing an additional 500 shares during the period. Finally, Principal Financial Group Inc. increased its holdings 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 worth $2,061,000 after purchasing an additional 517 shares during the period. 96.03% of the stock is owned by 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).