Arcellx FY2029 EPS Estimate Increased by Leerink Partnrs

Arcellx, Inc. (NASDAQ:ACLX - Free Report) - Stock analysts at Leerink Partnrs lifted their FY2029 earnings estimates for Arcellx in a note issued to investors on Wednesday, June 4th. Leerink Partnrs analyst D. Graybosch now expects that the company will post earnings of $5.39 per share for the year, up from their prior forecast of $5.00. The consensus estimate for Arcellx's current full-year earnings is ($1.58) per share.

Separately, Scotiabank cut their price target on Arcellx from $133.00 to $93.00 and set a "sector outperform" rating for the company in a research note on Friday, May 9th. Thirteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Arcellx presently has a consensus rating of "Buy" and a consensus price target of $111.33.

Arcellx Stock Performance

NASDAQ:ACLX traded up $1.85 during trading hours on Thursday, reaching $68.10. The stock had a trading volume of 595,314 shares, compared to its average volume of 604,813. The stock has a market cap of $3.75 billion, a P/E ratio of -95.91 and a beta of 0.28. The stock has a 50 day simple moving average of $61.19 and a 200 day simple moving average of $68.97. Arcellx has a 12-month low of $47.86 and a 12-month high of $107.37.

Arcellx (NASDAQ:ACLX - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($1.13) EPS for the quarter, missing analysts' consensus estimates of ($0.84) by ($0.29). Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. The company had revenue of $8.13 million during the quarter, compared to the consensus estimate of $19.51 million.

Insider Activity

In other Arcellx news, Director Kavita Patel sold 1,500 shares of the firm's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $71.64, for a total value of $107,460.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders sold 6,000 shares of company stock worth $377,655. 8.35% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arcellx

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Amalgamated Bank increased its holdings in Arcellx by 12.0% during the 1st quarter. Amalgamated Bank now owns 1,508 shares of the company's stock worth $99,000 after acquiring an additional 161 shares during the period. Xponance Inc. grew its position in shares of Arcellx by 6.2% during the 1st quarter. Xponance Inc. now owns 3,278 shares of the company's stock valued at $215,000 after purchasing an additional 190 shares in the last quarter. GF Fund Management CO. LTD. increased its holdings in shares of Arcellx by 21.9% in the first quarter. GF Fund Management CO. LTD. now owns 1,384 shares of the company's stock worth $91,000 after purchasing an additional 249 shares during the period. GAMMA Investing LLC increased its holdings in shares of Arcellx by 104.1% in the first quarter. GAMMA Investing LLC now owns 494 shares of the company's stock worth $32,000 after purchasing an additional 252 shares during the period. Finally, KBC Group NV raised its position in shares of Arcellx by 37.3% in the fourth quarter. KBC Group NV now owns 1,388 shares of the company's stock worth $106,000 after buying an additional 377 shares in the last quarter. 96.03% of the stock is currently owned by institutional investors.

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).