FY2029 Earnings Forecast for Arcellx Issued By HC Wainwright

Key Points

• HC Wainwright lowered their FY2029 EPS estimate for Arcellx to $2.55 per share from $2.66, while maintaining a "Buy" rating and a target price of $115.00.
• Despite a negative net margin of 329.93%, Arcellx reported quarterly earnings of ($0.94) per share, exceeding analysts' expectations of ($1.03) per share.
• Thirteen analysts rated Arcellx as a "Buy," with an average target price of $114.31, which reflects overall positive sentiment toward the company's potential.

Arcellx, Inc. (NASDAQ:ACLX - Free Report) - Investment analysts at HC Wainwright dropped their FY2029 earnings per share (EPS) estimates for shares of Arcellx in a report released on Friday, August 8th. HC Wainwright analyst E. Bodnar now anticipates that the company will post earnings per share of $2.55 for the year, down from their previous estimate of $2.66. HC Wainwright has a "Buy" rating and a $115.00 price objective on the stock. The consensus estimate for Arcellx's current full-year earnings is ($1.58) per share.

A number of other equities research analysts have also recently commented on the company. Citigroup began coverage on Arcellx in a research report on Tuesday, June 17th. They set a "buy" rating and a $110.00 target price on the stock. Cantor Fitzgerald upgraded Arcellx to a "strong-buy" rating in a research report on Monday, August 4th. Finally, Scotiabank raised 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 analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $114.31.

Arcellx Trading Down 0.2%

ACLX traded down $0.16 during midday trading on Monday, hitting $71.70. 97,418 shares of the company were exchanged, compared to its average volume of 659,339. Arcellx has a 1-year low of $47.86 and a 1-year high of $107.37. The firm has a market capitalization of $3.98 billion, a price-to-earnings ratio of -21.01 and a beta of 0.28. The company's 50 day simple moving average is $68.03 and its 200 day simple moving average is $65.40.

Arcellx (NASDAQ:ACLX - Get Free Report) last announced 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 company had revenue of $7.55 million for the quarter, compared to the consensus estimate of $16.76 million. Arcellx had a negative return on equity of 43.04% and a negative net margin of 329.93%.

Insiders Place Their Bets

In other news, Director Kavita Patel sold 1,500 shares of Arcellx stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $67.36, for a total transaction of $101,040.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 8.35% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Gilead Sciences Inc. purchased a new stake in Arcellx in the fourth quarter valued at approximately $515,418,000. Paradigm Biocapital Advisors LP raised its position in Arcellx by 2.8% in the first quarter. Paradigm Biocapital Advisors LP now owns 4,492,032 shares of the company's stock valued at $294,677,000 after purchasing an additional 120,431 shares during the period. Vanguard Group Inc. raised its position in Arcellx by 19.7% in the first quarter. Vanguard Group Inc. now owns 3,985,156 shares of the company's stock valued at $261,426,000 after purchasing an additional 655,064 shares during the period. RA Capital Management L.P. raised its position in Arcellx by 8.9% in the first quarter. RA Capital Management L.P. now owns 3,036,527 shares of the company's stock valued at $199,196,000 after purchasing an additional 249,200 shares during the period. Finally, Vestal Point Capital LP raised its position in Arcellx by 402.7% in the first quarter. Vestal Point Capital LP now owns 2,387,720 shares of the company's stock valued at $156,634,000 after purchasing an additional 1,912,720 shares during the period. 96.03% of the stock is currently owned by institutional investors and hedge funds.

Arcellx Company 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).