EntryPoint Capital LLC Takes Position in Arcellx, Inc. $ACLX

Key Points

• EntryPoint Capital LLC has invested approximately $248,000 in Arcellx, acquiring 3,774 shares as part of its first-quarter filings with the SEC.
• Arcellx received multiple positive upgrades from analysts, with Cantor Fitzgerald and Citigroup issuing "strong-buy" and "buy" ratings, respectively, alongside a consensus price target of $114.31.
• Despite the positive analyst sentiments, Arcellx recently reported an earnings loss of ($0.94) per share, beating estimates but showing considerable challenges with a negative net margin of 329.93%.

EntryPoint Capital LLC acquired a new stake in Arcellx, Inc. (NASDAQ:ACLX - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund acquired 3,774 shares of the company's stock, valued at approximately $248,000.

A number of other hedge funds have also bought and sold shares of the business. Amalgamated Bank grew 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 in the last quarter. Xponance Inc. grew its position in shares of Arcellx by 6.2% during the 1st quarter. Xponance Inc. now owns 3,278 shares of the company's stock valued at $215,000 after purchasing an additional 190 shares in the last quarter. GF Fund Management CO. LTD. grew its position in shares of Arcellx by 21.9% during the 1st quarter. GF Fund Management CO. LTD. now owns 1,384 shares of the company's stock valued at $91,000 after purchasing an additional 249 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Arcellx by 104.1% during the 1st quarter. GAMMA Investing LLC now owns 494 shares of the company's stock valued at $32,000 after purchasing an additional 252 shares in the last quarter. Finally, E Fund Management Co. Ltd. grew its position in shares of Arcellx by 8.3% during the 1st quarter. E Fund Management Co. Ltd. now owns 5,468 shares of the company's stock valued at $359,000 after purchasing an additional 419 shares in the last quarter. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ACLX shares. HC Wainwright restated a "buy" rating and set a $115.00 price target on shares of Arcellx in a research report on Monday, June 16th. Scotiabank boosted their price target on shares of Arcellx from $93.00 to $133.00 and gave the company a "sector outperform" rating in a research report on Thursday, July 31st. Citigroup started coverage on shares of Arcellx in a research report on Tuesday, June 17th. They set a "buy" rating and a $110.00 price target for the company. Finally, Cantor Fitzgerald upgraded shares of Arcellx to a "strong-buy" rating in a research report on Monday, August 4th. Two research analysts have rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $114.31.

Arcellx Price Performance

Arcellx stock traded up $0.16 during mid-day trading on Friday, hitting $70.41. The company's stock had a trading volume of 58,886 shares, compared to its average volume of 656,992. The stock has a market cap of $3.91 billion, a price-to-earnings ratio of -20.55 and a beta of 0.28. The business has a 50 day moving average price of $69.15 and a 200-day moving average price of $65.70. Arcellx, Inc. has a 12 month low of $47.86 and a 12 month high of $107.37.

Arcellx (NASDAQ:ACLX - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.94) earnings per share for the quarter, topping the consensus estimate of ($1.03) by $0.09. The business had revenue of $7.55 million during the quarter, compared to the consensus estimate of $16.76 million. Arcellx had a negative net margin of 329.93% and a negative return on equity of 43.04%. On average, equities research analysts expect that Arcellx, Inc. will post -1.58 earnings per share for the current fiscal year.

Insider Activity at Arcellx

In other news, Director Kavita Patel sold 1,500 shares of the company's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $67.36, for a total transaction of $101,040.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 8.35% of the company's stock.

Arcellx Profile

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).