Analysts Set Arcellx, Inc. (NASDAQ:ACLX) PT at $105.93

Shares of Arcellx, Inc. (NASDAQ:ACLX) have earned an average rating of “Buy” from the fifteen analysts that are presently covering the firm, MarketBeat.com reports. Thirteen research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $105.93.

A number of analysts have commented on ACLX shares. UBS Group upped their price target on Arcellx from $106.00 to $114.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Bank of America increased their target price on shares of Arcellx from $84.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Stifel Nicolaus lifted their price target on shares of Arcellx from $83.00 to $122.00 and gave the company a “buy” rating in a report on Friday, October 18th. Piper Sandler increased their price objective 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. Finally, Canaccord Genuity Group lifted their target price on shares of Arcellx from $85.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 17th.

Insider Activity at Arcellx

In other Arcellx news, Director Kavita Patel sold 33,763 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $104.14, for a total transaction of $3,516,078.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 directly owns 35,517 shares of the company’s stock, valued at $2,825,377.35. The trade was a 8.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 64,916 shares of company stock valued at $6,339,655. Insiders own 6.24% of the company’s stock.

Institutional Investors Weigh In On Arcellx

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. KBC Group NV increased its position in shares of Arcellx by 37.3% during the 4th quarter. KBC Group NV now owns 1,388 shares of the company’s stock valued at $106,000 after purchasing an additional 377 shares during the last quarter. Quarry LP purchased a new position in Arcellx during the third quarter worth $125,000. Quest Partners LLC increased its position in Arcellx by 210.1% during the third quarter. Quest Partners LLC now owns 1,532 shares of the company’s stock valued at $128,000 after acquiring an additional 1,038 shares during the last quarter. Covestor Ltd raised its stake in shares of Arcellx by 53,766.7% in the third quarter. Covestor Ltd now owns 1,616 shares of the company’s stock valued at $135,000 after acquiring an additional 1,613 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted 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 acquiring an additional 347 shares during the last quarter. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

Arcellx Trading Up 1.2 %

Shares of ACLX stock opened at $68.56 on Thursday. Arcellx has a 12 month low of $47.88 and a 12 month high of $107.37. The stock has a market cap of $3.71 billion, a P/E ratio of -96.56 and a beta of 0.29. The company has a 50 day simple moving average of $75.27 and a two-hundred day simple moving average of $76.84.

Arcellx (NASDAQ:ACLX) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.48) EPS for the quarter, topping the consensus estimate of ($0.54) by $0.06. The firm had revenue of $26.03 million during the quarter, compared to analyst estimates of $35.21 million. Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. As a group, equities analysts forecast that Arcellx will post -1.58 earnings per share for the current year.

Arcellx Company Profile

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).