Cantor Fitzgerald Cuts Earnings Estimates for Arcellx

Arcellx, Inc. (NASDAQ:ACLX - Free Report) - Stock analysts at Cantor Fitzgerald lowered their FY2025 earnings per share (EPS) estimates for Arcellx in a report issued on Monday, May 12th. Cantor Fitzgerald analyst R. Bienkowski now forecasts that the company will post earnings of ($2.98) per share for the year, down from their prior estimate of ($2.83). The consensus estimate for Arcellx's current full-year earnings is ($1.58) per share.

Separately, Scotiabank reduced their price objective on Arcellx from $133.00 to $93.00 and set a "sector outperform" rating for the company in a research note on Friday, May 9th. Thirteen investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $109.31.

Arcellx Price Performance

ACLX opened at $58.25 on Wednesday. The business has a 50 day moving average price of $64.11 and a two-hundred day moving average price of $72.42. Arcellx has a 1-year low of $47.86 and a 1-year high of $107.37. The company has a market capitalization of $3.21 billion, a price-to-earnings ratio of -82.04 and a beta of 0.34.

Arcellx (NASDAQ:ACLX - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($1.13) EPS for the quarter, missing analysts' consensus estimates of ($0.84) by ($0.29). The business had revenue of $8.13 million for the quarter, compared to analyst estimates of $19.51 million. Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%.

Insider Buying and Selling at Arcellx

In other Arcellx news, insider Christopher Heery sold 10,155 shares of the business's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $63.79, for a total value of $647,787.45. Following the completion of the sale, the insider now directly owns 37,486 shares of the company's stock, valued at $2,391,231.94. The trade was a 21.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kavita Patel sold 1,500 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $63.16, for a total transaction of $94,740.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,455 shares of company stock worth $3,407,903. 6.24% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC increased its position in Arcellx by 104.1% during the first quarter. GAMMA Investing LLC now owns 494 shares of the company's stock worth $32,000 after acquiring an additional 252 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Arcellx during the fourth quarter worth approximately $41,000. GF Fund Management CO. LTD. bought a new position in Arcellx in the 4th quarter valued at $87,000. Amalgamated Bank raised its holdings in shares of Arcellx by 12.0% in the first 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. Finally, KBC Group NV raised its stake in shares of Arcellx by 37.3% in the fourth quarter. KBC Group NV now owns 1,388 shares of the company's stock worth $106,000 after acquiring an additional 377 shares during the last quarter. Institutional investors and hedge funds own 96.03% of the company's stock.

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).

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