Brokerages Set Arcellx, Inc. (NASDAQ:ACLX) Target Price at $112.22

Shares of Arcellx, Inc. (NASDAQ:ACLX) have earned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $109.20.

Several research firms have commented on ACLX. Wolfe Research initiated coverage on Arcellx in a research note on Tuesday, November 18th. They set a “peer perform” rating for the company. Canaccord Genuity Group restated a “buy” rating and set a $130.00 price target on shares of Arcellx in a research note on Monday, December 8th. Citigroup reiterated a “buy” rating on shares of Arcellx in a research report on Monday, November 24th. UBS Group began coverage on shares of Arcellx in a research report on Wednesday, January 7th. They set a “buy” rating for the company. Finally, Rothschild & Co Redburn downgraded shares of Arcellx from a “buy” rating to a “neutral” rating and set a $82.00 target price on the stock. in a report on Thursday.

Arcellx Stock Performance

NASDAQ ACLX opened at $68.50 on Friday. The firm’s fifty day moving average is $67.44 and its two-hundred day moving average is $74.88. Arcellx has a one year low of $47.86 and a one year high of $94.07. The firm has a market cap of $3.96 billion, a PE ratio of -17.43 and a beta of 0.36.

Insiders Place Their Bets

In other news, insider Christopher Heery sold 5,882 shares of the stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $68.51, for a total transaction of $402,975.82. Following the completion of the transaction, the insider directly owned 23,749 shares of the company’s stock, valued at approximately $1,627,043.99. This represents a 19.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders sold 19,790 shares of company stock valued at $1,314,077. 8.35% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Marshall Wace LLP acquired a new stake in Arcellx in the fourth quarter valued at $550,000. The Manufacturers Life Insurance Company lifted its stake in shares of Arcellx by 6.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 57,251 shares of the company’s stock valued at $3,669,000 after purchasing an additional 3,398 shares during the period. Affinity Asset Advisors LLC boosted its holdings in Arcellx by 4.7% during the fourth quarter. Affinity Asset Advisors LLC now owns 523,725 shares of the company’s stock worth $34,147,000 after buying an additional 23,725 shares in the last quarter. Hudson Bay Capital Management LP acquired a new position in Arcellx during the fourth quarter worth about $26,141,000. Finally, Rafferty Asset Management LLC grew its position in Arcellx by 41.2% during the fourth quarter. Rafferty Asset Management LLC now owns 69,515 shares of the company’s stock worth $4,532,000 after buying an additional 20,275 shares during the period. Institutional investors and hedge funds 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.