Arcellx (ACLX) Expected to Announce Quarterly Earnings on Wednesday

Arcellx (NASDAQ:ACLX) is projected to issue its quarterly earnings data before the market opens on Wednesday, February 26th. Analysts expect the company to announce earnings of ($0.63) per share for the quarter.

Arcellx Stock Down 1.5 %

ACLX opened at $64.25 on Wednesday. Arcellx has a 12-month low of $47.88 and a 12-month high of $107.37. The stock has a market cap of $3.47 billion, a price-to-earnings ratio of -90.49 and a beta of 0.29. The business has a 50 day moving average of $71.70 and a 200-day moving average of $77.12.

Insider Activity

In other news, Director Kavita Patel sold 1,500 shares of Arcellx stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $91.88, for a total value of $137,820.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Christopher Heery sold 3,061 shares of Arcellx stock in a transaction on Monday, January 6th. The shares were sold at an average price of $77.17, for a total value of $236,217.37. Following the completion of the transaction, the insider now owns 32,456 shares in the company, valued at approximately $2,504,629.52. The trade was a 8.62 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,915 shares of company stock worth $1,209,567. Insiders own 6.24% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Barclays upgraded Arcellx to a “strong-buy” rating in a research note on Friday, November 29th. Piper Sandler increased their target price on Arcellx from $91.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Bank of America increased their target price on Arcellx from $84.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Morgan Stanley increased their target price on Arcellx from $81.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Finally, UBS Group increased their target price on Arcellx from $106.00 to $114.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Thirteen analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $105.93.

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).