Arcellx, Inc. (NASDAQ:ACLX) Short Interest Down 20.7% in April

Key Points

• Short interest fell 20.7% in April to 1,800,274 shares as of April 15, implying a short-interest ratio of about 2.5 days and roughly 3.4% of shares sold short.
• Analysts have an average rating of "Hold" on ACLX with a consensus price target of $111.87, amid several recent downgrades from firms including Wells Fargo, UBS and TD Cowen.
• Insider Rami Elghandour sold 89,916 shares (~$10.24M at ~$113.92) reducing his stake by 24.57%, while institutional investors own about 96.03% of the company's stock.

Arcellx, Inc. (NASDAQ:ACLX - Get Free Report) saw a significant decrease in short interest in April. As of April 15th, there was short interest totaling 1,800,274 shares, a decrease of 20.7% from the March 31st total of 2,269,775 shares. Based on an average daily trading volume, of 714,147 shares, the short-interest ratio is currently 2.5 days. Approximately 3.4% of the company's shares are sold short.

Analyst Ratings Changes

ACLX has been the topic of a number of recent research reports. Wells Fargo & Company cut shares of Arcellx from an "overweight" rating to an "equal weight" rating and set a $115.00 price objective on the stock. in a report on Monday, February 23rd. UBS Group cut shares of Arcellx from a "buy" rating to a "neutral" rating and upped their price objective for the stock from $100.00 to $115.00 in a report on Tuesday, February 24th. Cantor Fitzgerald restated a "neutral" rating on shares of Arcellx in a report on Wednesday. Weiss Ratings restated a "sell (d-)" rating on shares of Arcellx in a report on Monday, April 20th. Finally, TD Cowen cut shares of Arcellx from a "strong-buy" rating to a "hold" rating in a report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, sixteen have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $111.87.

Arcellx Stock Performance

Shares of ACLX opened at $115.07 on Thursday. The firm's 50-day simple moving average is $112.63 and its two-hundred day simple moving average is $87.85. Arcellx has a fifty-two week low of $47.86 and a fifty-two week high of $115.13. The stock has a market cap of $6.73 billion, a PE ratio of -28.27 and a beta of 0.25.

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

Insider Transactions at Arcellx

In related news, insider Rami Elghandour sold 89,916 shares of the stock in a transaction dated Friday, February 27th. The shares were 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 directly owned 276,051 shares of the company's stock, valued at $31,447,729.92. This represents a 24.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 8.35% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Arcellx

A number of institutional investors have recently made changes to their positions in the company. Credit Industriel ET Commercial purchased a new stake in shares of Arcellx during the first quarter valued at approximately $15,460,000. Abel Hall LLC purchased a new stake in shares of Arcellx during the first quarter valued at approximately $299,000. Praxis Investment Management Inc. purchased a new stake in shares of Arcellx during the first quarter valued at approximately $217,000. Chicago Capital Management LLC purchased a new stake in shares of Arcellx during the first quarter valued at approximately $10,673,000. Finally, Deltec Asset Management LLC purchased a new stake in shares of Arcellx during the first quarter valued at approximately $431,000. Hedge funds and other institutional investors 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.

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