Arcellx, Inc. (NASDAQ:ACLX - Get Free Report) insider Rami Elghandour sold 23,086 shares of Arcellx stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $67.09, for a total value of $1,548,839.74. Following the transaction, the insider now directly owns 69,253 shares in the company, valued at $4,646,183.77. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Arcellx Price Performance
Shares of ACLX opened at $63.20 on Thursday. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of -42.99 and a beta of 0.02. Arcellx, Inc. has a 1 year low of $27.28 and a 1 year high of $75.10. The business's 50 day simple moving average is $66.31 and its 200-day simple moving average is $53.18.
Arcellx (NASDAQ:ACLX - Get Free Report) last released its earnings results on Wednesday, February 28th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of ($0.53) by $0.95. The firm had revenue of $63.15 million for the quarter, compared to the consensus estimate of $20.07 million. Arcellx had a negative return on equity of 20.96% and a negative net margin of 64.08%. During the same quarter in the previous year, the company posted ($0.76) EPS. On average, sell-side analysts expect that Arcellx, Inc. will post -1.69 earnings per share for the current year.
Wall Street Analyst Weigh In
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A number of research analysts have recently weighed in on the company. Stifel Nicolaus reaffirmed a "buy" rating and set a $82.00 price objective on shares of Arcellx in a research report on Thursday, March 14th. Barclays boosted their price target on Arcellx from $62.00 to $73.00 and gave the stock an "overweight" rating in a report on Thursday, February 29th. Morgan Stanley began coverage on Arcellx in a report on Thursday, March 7th. They issued an "overweight" rating and a $81.00 price target on the stock. Scotiabank boosted their price target on Arcellx to $82.00 and gave the stock an "outperform" rating in a report on Thursday, February 29th. Finally, Robert W. Baird boosted their price target on Arcellx from $63.00 to $77.00 and gave the stock an "outperform" rating in a report on Thursday, February 29th. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Arcellx currently has an average rating of "Buy" and an average price target of $74.17.
Read Our Latest Stock Analysis on ACLX
Hedge Funds Weigh In On Arcellx
Several large investors have recently modified their holdings of the stock. Perceptive Advisors LLC increased its position in shares of Arcellx by 14.6% during the 4th quarter. Perceptive Advisors LLC now owns 4,544,809 shares of the company's stock valued at $252,237,000 after purchasing an additional 578,831 shares during the last quarter. Novo Holdings A S bought a new position in shares of Arcellx during the 1st quarter valued at approximately $56,317,000. Suvretta Capital Management LLC increased its position in shares of Arcellx by 18.8% during the 2nd quarter. Suvretta Capital Management LLC now owns 2,848,167 shares of the company's stock valued at $90,059,000 after purchasing an additional 449,846 shares during the last quarter. BlackRock Inc. increased its position in shares of Arcellx by 17.1% during the 2nd quarter. BlackRock Inc. now owns 2,602,485 shares of the company's stock valued at $82,291,000 after purchasing an additional 380,128 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Arcellx by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 2,061,819 shares of the company's stock valued at $114,431,000 after purchasing an additional 23,262 shares during the last quarter. Institutional investors own 96.03% of the company's stock.
Arcellx Company Profile
(
Get Free Report)
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).
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