Arcellx, Inc. (NASDAQ:ACLX) Short Interest Update

Key Points

• Short interest plunged 51.7% to 2,269,775 shares as of March 31, leaving a short-interest ratio of 1.5 days and about 4.2% of the float sold short.
• Insiders sold a total of 109,366 shares (~$11.53M) over the last three months — notably Rami Elghandour's 89,916-share sale — leaving insiders with about 8.35% ownership.
• Institutions piled in, with T. Rowe Price now holding 10.56M shares after a 66.2% increase and hedge funds/institutions owning roughly 96.03% of the stock.

Arcellx, Inc. (NASDAQ:ACLX - Get Free Report) was the recipient of a significant decline in short interest during the month of March. As of March 31st, there was short interest totaling 2,269,775 shares, a decline of 51.7% from the March 15th total of 4,697,239 shares. Based on an average trading volume of 1,487,311 shares, the short-interest ratio is presently 1.5 days. Approximately 4.2% of the shares of the company are sold short.

Insiders Place Their Bets

In other news, insider Christopher Heery sold 5,882 shares of the company's stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $68.51, for a total value of $402,975.82. Following the completion of the sale, the insider directly owned 23,749 shares of the company's stock, valued at approximately $1,627,043.99. This represents a 19.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Rami Elghandour sold 89,916 shares of the company's stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $113.92, for a total transaction of $10,243,230.72. Following the completion of the sale, the insider directly owned 276,051 shares of the company's stock, valued at $31,447,729.92. The trade was a 24.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 109,366 shares of company stock valued at $11,526,708. 8.35% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ACLX. T. Rowe Price Investment Management Inc. raised its holdings in Arcellx by 66.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,560,425 shares of the company's stock worth $688,540,000 after purchasing an additional 4,208,069 shares in the last quarter. Vestal Point Capital LP raised its holdings in Arcellx by 134.0% during the fourth quarter. Vestal Point Capital LP now owns 2,925,000 shares of the company's stock worth $190,710,000 after purchasing an additional 1,675,000 shares in the last quarter. Paradigm Biocapital Advisors LP raised its holdings in Arcellx by 23.1% during the fourth quarter. Paradigm Biocapital Advisors LP now owns 5,724,016 shares of the company's stock worth $373,206,000 after purchasing an additional 1,075,000 shares in the last quarter. State Street Corp raised its holdings in Arcellx by 31.0% during the fourth quarter. State Street Corp now owns 1,998,503 shares of the company's stock worth $130,302,000 after purchasing an additional 472,476 shares in the last quarter. Finally, Hudson Bay Capital Management LP purchased a new position in Arcellx during the fourth quarter worth about $26,141,000. 96.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Stifel Nicolaus reaffirmed a "hold" rating and issued a $115.00 target price (down from $127.00) on shares of Arcellx in a report on Monday, February 23rd. HC Wainwright cut shares of Arcellx from a "buy" rating to a "neutral" rating and set a $115.00 target price for the company. in a 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 target price for the company. in a report on Thursday, February 12th. Truist Financial raised shares of Arcellx from a "hold" rating to a "strong-buy" rating in a report on Friday, March 20th. Finally, Needham & Company LLC cut shares of Arcellx from a "buy" rating to a "hold" rating in a report on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, sixteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Arcellx currently has an average rating of "Hold" and an average target price of $111.87.

Arcellx Stock Up 0.0%

Shares of Arcellx stock opened at $114.83 on Friday. The firm has a market cap of $6.72 billion, a price-to-earnings ratio of -28.21 and a beta of 0.25. Arcellx has a 52-week low of $47.86 and a 52-week high of $114.94. The company's 50-day simple moving average is $100.61 and its 200-day simple moving average is $84.95.

Arcellx (NASDAQ:ACLX - Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($1.01) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($1.01). The firm had revenue of $1.65 million during the quarter, compared to analysts' expectations of $13.40 million. Arcellx had a negative net margin of 1,027.26% and a negative return on equity of 55.42%. Equities research analysts anticipate that Arcellx will post -1.58 EPS for the current year.

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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