Arcellx, Inc. (NASDAQ:ACLX) Given Consensus Recommendation of "Hold" by Analysts

Key Points

• Analysts assign Arcellx an average rating of "Hold" from 19 firms (1 sell, 16 hold, 1 buy, 1 strong buy) with a 12‑month average price target of about $111.87, amid several recent downgrades and a notable upgrade to strong‑buy from Truist.
• Insider Rami Elghandour sold 89,916 shares at $113.92 on Feb. 27 for roughly $10.24M, reducing his stake by 24.57%; corporate insiders own 8.35% of the company.
• Arcellx reported ($1.01) EPS (in line) but a revenue miss of $1.65M versus $13.4M expected, remains unprofitable with a negative ROE and a -1,027% net margin, and its shares trade near the 12‑month high (~$115) with a market cap around $6.73B.

Arcellx, Inc. (NASDAQ:ACLX - Get Free Report) has been given an average rating of "Hold" by the nineteen research firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, sixteen have issued a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $111.8667.

A number of equities research analysts recently commented on ACLX shares. Wells Fargo & Company downgraded Arcellx from an "overweight" rating to an "equal weight" rating and set a $115.00 target price on the stock. in a research report on Monday, February 23rd. Rothschild & Co Redburn cut shares of Arcellx from a "buy" rating to a "neutral" rating and set a $82.00 price target on the stock. in a research report on Thursday, February 12th. UBS Group lowered shares of Arcellx from a "buy" rating to a "neutral" rating and increased their price objective for the company from $100.00 to $115.00 in a research report on Tuesday, February 24th. Needham & Company LLC downgraded shares of Arcellx from a "buy" rating to a "hold" rating in a report on Monday, February 23rd. Finally, Truist Financial upgraded shares of Arcellx from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 20th.

Insider Buying and Selling

In related news, insider Rami Elghandour sold 89,916 shares of Arcellx stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $113.92, for a total value of $10,243,230.72. Following the completion of the transaction, the insider owned 276,051 shares in the company, valued at approximately $31,447,729.92. This trade represents a 24.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.35% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MAI Capital Management purchased a new position in Arcellx in the third quarter worth about $26,000. CWM LLC increased its position in Arcellx by 267.0% during the third quarter. CWM LLC now owns 345 shares of the company's stock valued at $28,000 after acquiring an additional 251 shares during the last quarter. State of Wyoming bought a new position in Arcellx during the second quarter valued at $28,000. Ramirez Asset Management Inc. bought a new position in Arcellx during the third quarter valued at $41,000. Finally, Abich Financial Wealth Management LLC bought a new position in Arcellx during the third quarter valued at $62,000. Hedge funds and other institutional investors own 96.03% of the company's stock.

Arcellx Trading Up 0.0%

Shares of ACLX stock opened at $115.05 on Friday. The stock has a market capitalization of $6.73 billion, a price-to-earnings ratio of -28.27 and a beta of 0.25. Arcellx has a 12-month low of $47.86 and a 12-month high of $115.13. The stock's 50-day moving average price is $108.95 and its 200-day moving average price is $87.05.

Arcellx (NASDAQ:ACLX - Get Free Report) last posted its earnings results on Thursday, February 26th. The company reported ($1.01) EPS for the quarter, hitting analysts' consensus estimates of ($1.01). The company had revenue of $1.65 million for the quarter, compared to the consensus estimate of $13.40 million. Arcellx had a negative return on equity of 55.42% and a negative net margin of 1,027.26%. As a group, research analysts predict that Arcellx will post -2.91 EPS for the current fiscal year.

About Arcellx

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.

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