Arcellx’s (ACLX) “Buy” Rating Reiterated at HC Wainwright

Arcellx (NASDAQ:ACLX)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They currently have a $115.00 target price on the stock. HC Wainwright’s price objective would suggest a potential upside of 65.47% from the company’s current price.

ACLX has been the subject of a number of other reports. Needham & Company LLC reiterated a “buy” rating and issued a $105.00 price target on shares of Arcellx in a research report on Monday, December 8th. Wolfe Research assumed coverage on shares of Arcellx in a research report on Tuesday, November 18th. They issued a “peer perform” rating for the company. Wells Fargo & Company initiated coverage on shares of Arcellx in a report on Monday, December 22nd. They set an “overweight” rating and a $100.00 price target for the company. Cantor Fitzgerald restated a “neutral” rating and set a $88.00 price objective on shares of Arcellx in a research report on Thursday, October 9th. Finally, Citigroup reaffirmed a “buy” rating on shares of Arcellx in a report on Monday, November 24th. Nine equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $112.22.

Arcellx Trading Up 0.1%

Shares of NASDAQ:ACLX traded up $0.04 during trading on Wednesday, hitting $69.50. 214,667 shares of the company were exchanged, compared to its average volume of 883,804. The firm has a fifty day moving average price of $67.88 and a two-hundred day moving average price of $75.00. The stock has a market cap of $4.02 billion, a price-to-earnings ratio of -17.67 and a beta of 0.36. Arcellx has a fifty-two week low of $47.86 and a fifty-two week high of $94.07.

Arcellx (NASDAQ:ACLX) last posted its earnings results on Wednesday, November 5th. The company reported ($0.99) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.03). The business had revenue of $4.95 million for the quarter, compared to analyst estimates of $11.24 million. Arcellx had a negative return on equity of 51.13% and a negative net margin of 607.01%. As a group, research analysts predict that Arcellx will post -1.58 EPS for the current year.

Insider Activity

In related news, insider Christopher Heery sold 7,437 shares of the firm’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $65.51, for a total value of $487,197.87. Following the completion of the transaction, the insider owned 29,631 shares in the company, valued at $1,941,126.81. This trade represents a 20.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 19,790 shares of company stock valued at $1,314,077 over the last three months. Corporate insiders own 8.35% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ACLX. Teacher Retirement System of Texas boosted its stake in Arcellx by 1.7% in the second quarter. Teacher Retirement System of Texas now owns 8,883 shares of the company’s stock valued at $585,000 after acquiring an additional 151 shares during the last quarter. SBI Securities Co. Ltd. grew its holdings in Arcellx by 4.6% during the fourth quarter. SBI Securities Co. Ltd. now owns 3,516 shares of the company’s stock valued at $229,000 after purchasing an additional 154 shares during the period. Vanguard Personalized Indexing Management LLC raised its stake in shares of Arcellx by 7.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 3,428 shares of the company’s stock valued at $226,000 after buying an additional 228 shares during the period. CWM LLC raised its stake in shares of Arcellx by 267.0% in the third quarter. CWM LLC now owns 345 shares of the company’s stock valued at $28,000 after buying an additional 251 shares during the period. Finally, Integrated Wealth Concepts LLC grew its stake in shares of Arcellx by 9.0% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 3,423 shares of the company’s stock worth $281,000 after acquiring an additional 283 shares during the period. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Arcellx Company Profile

Arcellx, Inc (NASDAQ: ACLX) is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of next-generation cell therapies for oncology and autoimmune diseases. The company’s proprietary ARC-SparX™ platform is designed to enable precise control over cell-surface receptor activation and to improve the safety, efficacy and durability of adoptive cell therapies. Leveraging this technology, Arcellx engineers immune cells with modular antigen-binding domains that can be exchanged to target a variety of disease-associated markers.

The company’s pipeline comprises multiple wholly owned programs in hematologic malignancies and solid tumors at various stages of preclinical and clinical development.