Arcellx (NASDAQ:ACLX) Upgraded to Strong-Buy at Cantor Fitzgerald

Key Points

• Arcellx's stock has been upgraded to a "strong-buy" rating by Cantor Fitzgerald, adding to positive sentiment from several other firms which have also issued "buy" ratings.
• Despite a missed earnings expectation in its last quarterly report, Arcellx has a consensus target price of $114.31, indicating strong analyst confidence in its future performance.
• Institutional investors control approximately 96.03% of Arcellx's shares, reflecting significant institutional interest in the company.

Cantor Fitzgerald upgraded shares of Arcellx (NASDAQ:ACLX - Free Report) to a strong-buy rating in a research note released on Monday,Zacks.com reports. Cantor Fitzgerald also issued estimates for Arcellx's FY2025 earnings at ($2.98) EPS and FY2026 earnings at ($2.65) EPS.

A number of other brokerages have also recently commented on ACLX. HC Wainwright restated a "buy" rating and issued a $115.00 price target on shares of Arcellx in a research report on Monday, June 16th. Citigroup started coverage on Arcellx in a report on Tuesday, June 17th. They issued a "buy" rating and a $110.00 price target on the stock. Finally, Scotiabank increased their target price on Arcellx from $93.00 to $133.00 and gave the company a "sector outperform" rating in a research report on Thursday, July 31st. Thirteen research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $114.31.

Arcellx Stock Performance

NASDAQ ACLX traded down $1.37 during trading hours on Monday, hitting $70.67. The company had a trading volume of 491,584 shares, compared to its average volume of 427,230. Arcellx has a 52 week low of $47.86 and a 52 week high of $107.37. The firm has a 50 day simple moving average of $67.23 and a 200 day simple moving average of $65.15. The firm has a market capitalization of $3.89 billion, a price-to-earnings ratio of -23.64 and a beta of 0.28.

Arcellx (NASDAQ:ACLX - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($1.13) earnings per share for the quarter, missing analysts' consensus estimates of ($0.84) by ($0.29). The firm had revenue of $8.13 million for the quarter, compared to analysts' expectations of $19.51 million. Arcellx had a negative net margin of 211.46% and a negative return on equity of 35.27%. On average, research analysts forecast that Arcellx will post -1.58 earnings per share for the current year.

Insider Activity at Arcellx

In other news, Director Kavita Patel sold 1,500 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $67.36, for a total value of $101,040.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 8.35% of the company's stock.

Hedge Funds Weigh In On Arcellx

Hedge funds and other institutional investors have recently bought and sold shares of the business. Teacher Retirement System of Texas increased its stake in Arcellx by 1.7% in the 2nd quarter. Teacher Retirement System of Texas now owns 8,883 shares of the company's stock valued at $585,000 after buying an additional 151 shares during the last quarter. Amalgamated Bank increased its stake in Arcellx by 12.0% in the 1st quarter. Amalgamated Bank now owns 1,508 shares of the company's stock valued at $99,000 after buying an additional 161 shares during the last quarter. Xponance Inc. increased its stake in Arcellx by 6.2% in the 1st quarter. Xponance Inc. now owns 3,278 shares of the company's stock valued at $215,000 after buying an additional 190 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in Arcellx by 7.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 3,428 shares of the company's stock valued at $226,000 after buying an additional 228 shares during the last quarter. Finally, GF Fund Management CO. LTD. increased its stake in Arcellx by 21.9% in the 1st quarter. GF Fund Management CO. LTD. now owns 1,384 shares of the company's stock valued at $91,000 after buying an additional 249 shares during the last quarter. 96.03% of the stock is 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).