Arcellx's (ACLX) "Neutral" Rating Reiterated at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald reiterated a "Neutral" rating on Arcellx, in line with an overall analyst consensus of "Hold" and an average price target of $111.87.
• Arcellx reported EPS of ($1.01) that met estimates but had a steep revenue miss ($1.65M vs. $13.4M), resulting in deeply negative margins and analyst forecasts of about -2.91 EPS for the year.
• Shares traded near a 1‑year high around $115 on heavy volume; insider Rami Elghandour sold ~89,916 shares for $10.24M, while insiders own 8.35% and institutions about 96% of the stock.

Arcellx (NASDAQ:ACLX - Get Free Report)'s stock had its "neutral" rating reaffirmed by research analysts at Cantor Fitzgerald in a report released on Wednesday,Benzinga reports.

A number of other equities analysts have also commented on ACLX. Wells Fargo & Company lowered 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. Canaccord Genuity Group set a $115.00 price objective on shares of Arcellx in a report on Monday, February 23rd. Evercore set a $115.00 price objective on shares of Arcellx in a report on Monday, February 23rd. Robert W. Baird reiterated a "neutral" rating and issued a $115.00 price objective (up from $106.00) on shares of Arcellx in a report on Monday, February 23rd. Finally, UBS Group downgraded shares of Arcellx from a "buy" rating to a "neutral" rating and boosted their target price for the stock from $100.00 to $115.00 in a research report on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, sixteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $111.87.

Arcellx Stock Performance

Shares of NASDAQ:ACLX remained flat at $115.07 during midday trading on Wednesday. 14,666,200 shares of the company traded hands, compared to its average volume of 1,498,960. The firm has a market capitalization of $6.73 billion, a P/E ratio of -28.27 and a beta of 0.25. The firm has a fifty day moving average price of $111.71 and a two-hundred day moving average price of $87.66. Arcellx has a 1-year low of $47.86 and a 1-year high of $115.13.

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

Insider Buying and Selling at Arcellx

In related news, insider Rami Elghandour sold 89,916 shares of the business'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 owned 276,051 shares of the company's stock, valued at $31,447,729.92. This represents a 24.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.35% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ACLX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Arcellx by 5.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,753 shares of the company's stock valued at $1,893,000 after purchasing an additional 1,390 shares during the period. Empowered Funds LLC acquired a new position in Arcellx during the 1st quarter valued at about $1,768,000. Intech Investment Management LLC boosted its stake in Arcellx by 27.7% during the 1st quarter. Intech Investment Management LLC now owns 21,967 shares of the company's stock valued at $1,441,000 after purchasing an additional 4,760 shares during the period. Prudential Financial Inc. boosted its stake in Arcellx by 49.2% during the 2nd quarter. Prudential Financial Inc. now owns 4,900 shares of the company's stock valued at $323,000 after purchasing an additional 1,615 shares during the period. Finally, Norges Bank acquired a new position in Arcellx during the 2nd quarter valued at about $739,000. 96.03% of the stock is owned by institutional investors and hedge funds.

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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