Arcellx, Inc. (NASDAQ:ACLX) Short Interest Update

Arcellx, Inc. (NASDAQ:ACLX) saw a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 5,810,000 shares, a growth of 6.6% from the December 31st total of 5,450,000 shares. Based on an average daily trading volume, of 601,000 shares, the short-interest ratio is currently 9.7 days. Currently, 14.3% of the company’s shares are sold short.

Arcellx Stock Performance

NASDAQ:ACLX opened at $64.76 on Tuesday. The firm has a market cap of $3.50 billion, a P/E ratio of -91.21 and a beta of 0.29. Arcellx has a one year low of $47.88 and a one year high of $107.37. The firm has a 50-day simple moving average of $76.14 and a 200-day simple moving average of $76.86.

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. Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. The firm had revenue of $26.03 million during the quarter, compared to analyst estimates of $35.21 million. On average, research analysts predict that Arcellx will post -1.58 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Stifel Nicolaus lifted their price target on Arcellx from $83.00 to $122.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $105.00 price target on shares of Arcellx in a report on Monday, December 9th. Piper Sandler increased their price target on shares of Arcellx from $91.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. UBS Group lifted their price target on shares of Arcellx from $106.00 to $114.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, Canaccord Genuity Group lifted their price target on Arcellx from $85.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Thirteen investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Arcellx presently has an average rating of “Buy” and an average price target of $105.93.

Insider Activity

In other Arcellx news, Director Kavita Patel sold 33,763 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $104.14, for a total value of $3,516,078.82. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Christopher Heery sold 3,061 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $77.17, for a total transaction of $236,217.37. Following the sale, the insider now directly owns 32,456 shares of the company’s stock, valued at $2,504,629.52. This represents a 8.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 63,416 shares of company stock valued at $6,242,800 in the last quarter. Company insiders own 6.24% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC acquired a new position in shares of Arcellx during the 2nd quarter worth about $1,494,000. AQR Capital Management LLC increased its stake in Arcellx by 38.9% during the 2nd quarter. AQR Capital Management LLC now owns 16,852 shares of the company’s stock worth $930,000 after buying an additional 4,718 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Arcellx by 55.4% in the second quarter. The Manufacturers Life Insurance Company now owns 73,332 shares of the company’s stock valued at $4,047,000 after purchasing an additional 26,134 shares during the period. SG Americas Securities LLC acquired a new position in shares of Arcellx during the third quarter worth about $1,005,000. Finally, Handelsbanken Fonder AB lifted its stake in Arcellx by 22.3% in the third quarter. Handelsbanken Fonder AB now owns 12,600 shares of the company’s stock worth $1,052,000 after acquiring an additional 2,300 shares during the last quarter. 96.03% of the stock is owned by institutional investors and hedge funds.

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).