Arcellx, Inc. (NASDAQ:ACLX – Get Free Report) saw a large decrease in short interest during the month of September. As of September 15th, there was short interest totalling 6,200,000 shares, a decrease of 6.1% from the August 31st total of 6,600,000 shares. Currently, 17.7% of the company’s shares are sold short. Based on an average trading volume of 440,500 shares, the days-to-cover ratio is currently 14.1 days.
Wall Street Analysts Forecast Growth
ACLX has been the subject of a number of analyst reports. Stifel Nicolaus cut their target price on Arcellx from $54.00 to $52.00 and set a “buy” rating for the company in a research note on Tuesday, August 15th. Needham & Company LLC reissued a “buy” rating and issued a $51.00 price objective on shares of Arcellx in a report on Tuesday, August 15th. Robert W. Baird upped their price target on Arcellx from $40.00 to $52.00 and gave the company an “outperform” rating in a report on Tuesday, August 15th. HC Wainwright raised their price objective on Arcellx from $49.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, August 15th. Finally, Truist Financial dropped their price target on Arcellx from $60.00 to $57.00 in a research report on Tuesday, June 20th. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $53.42.
Arcellx Trading Down 1.6 %
Shares of NASDAQ:ACLX opened at $35.88 on Monday. The company has a market capitalization of $1.74 billion, a PE ratio of -9.06 and a beta of -0.68. The business’s fifty day simple moving average is $34.87 and its 200-day simple moving average is $35.75. The company has a current ratio of 3.57, a quick ratio of 3.57 and a debt-to-equity ratio of 0.03. Arcellx has a 12-month low of $16.97 and a 12-month high of $48.92.
Arcellx (NASDAQ:ACLX – Get Free Report) last issued its quarterly earnings data on Monday, August 14th. The company reported ($0.50) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.18. The firm had revenue of $14.30 million for the quarter, compared to analysts’ expectations of $82.38 million. As a group, equities research analysts predict that Arcellx will post -2.19 earnings per share for the current fiscal year.
Insider Buying and Selling at Arcellx
In other news, insider Christopher Heery sold 3,000 shares of the stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $35.38, for a total value of $106,140.00. Following the transaction, the insider now directly owns 7,795 shares of the company’s stock, valued at $275,787.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.86% of the stock is currently owned by corporate insiders.
Institutional Trading of Arcellx
A number of institutional investors have recently made changes to their positions in the stock. Novo Holdings A S bought a new position in Arcellx in the 1st quarter worth $56,317,000. Perceptive Advisors LLC lifted its stake in Arcellx by 4.5% in the 2nd quarter. Perceptive Advisors LLC now owns 4,016,397 shares of the company’s stock valued at $126,998,000 after purchasing an additional 174,658 shares during the last quarter. Suvretta Capital Management LLC lifted its position in Arcellx by 18.8% during the second quarter. Suvretta Capital Management LLC now owns 2,848,167 shares of the company’s stock worth $90,059,000 after acquiring an additional 449,846 shares during the last quarter. FMR LLC increased its holdings in shares of Arcellx by 107.4% during the first quarter. FMR LLC now owns 2,683,090 shares of the company’s stock worth $82,666,000 after purchasing an additional 1,389,490 shares during the period. Finally, BlackRock Inc. increased its stake in Arcellx by 17.1% in the second quarter. BlackRock Inc. now owns 2,602,485 shares of the company’s stock valued at $82,291,000 after acquiring an additional 380,128 shares during the last quarter.
About Arcellx
Arcellx, Inc, a clinical-stage biotechnology company, engages in the development of various immunotherapies for patients with cancer and other incurable diseases. The company’s lead ddCAR product candidate is CART-ddBCMA, which is in phase 2 clinical trial for the treatment of patients with relapsed or refractory (r/r) multiple myeloma (MM).