Short Interest in Arcellx, Inc. (NASDAQ:ACLX) Declines By 38.0%

Key Points

• Short interest fell 38.0% to 5,763,954 shares as of Feb. 27, leaving about 10.8% of Arcellx's stock shorted and a days-to-cover ratio of just 0.9 days.
• Insiders have been selling: Rami Elghandour sold 89,916 shares for about $10.24 million on Feb. 27, and insiders sold 109,366 shares worth $11.53 million in the last 90 days, leaving insiders with 8.35% ownership.
• Several analysts downgraded ACLX from buy/strong-buy to hold/neutral, and Arcellx carries a consensus rating of "Hold" with a $111.87 consensus target while the stock trades near its 52-week high and a $6.68 billion market cap.

Arcellx, Inc. (NASDAQ:ACLX - Get Free Report) was the target of a large decline in short interest in February. As of February 27th, there was short interest totaling 5,763,954 shares, a decline of 38.0% from the February 12th total of 9,291,091 shares. Approximately 10.8% of the company's stock are short sold. Based on an average daily volume of 6,146,088 shares, the days-to-cover ratio is currently 0.9 days. Based on an average daily volume of 6,146,088 shares, the days-to-cover ratio is currently 0.9 days. Approximately 10.8% of the company's stock are short sold.

Insider Buying and Selling at Arcellx

In other news, insider Rami Elghandour sold 89,916 shares of Arcellx 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 transaction, the insider directly owned 276,051 shares in the company, valued at $31,447,729.92. This trade represents a 24.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christopher Heery sold 7,437 shares of the business's stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $65.51, for a total transaction of $487,197.87. Following the sale, the insider directly owned 29,631 shares of the company's stock, valued at approximately $1,941,126.81. The trade was a 20.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 109,366 shares of company stock worth $11,526,708. Corporate insiders own 8.35% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ACLX. SBI Securities Co. Ltd. increased its position in shares of Arcellx by 4.6% during the 4th quarter. SBI Securities Co. Ltd. now owns 3,516 shares of the company's stock valued at $229,000 after purchasing an additional 154 shares during the last quarter. CWM LLC grew its position in Arcellx by 267.0% during the third quarter. CWM LLC now owns 345 shares of the company's stock valued at $28,000 after buying an additional 251 shares during the period. Integrated Wealth Concepts LLC increased its holdings in Arcellx by 9.0% during the third quarter. Integrated Wealth Concepts LLC now owns 3,423 shares of the company's stock worth $281,000 after buying an additional 283 shares during the last quarter. Advisory Alpha LLC increased its holdings in Arcellx by 10.4% during the fourth quarter. Advisory Alpha LLC now owns 3,313 shares of the company's stock worth $216,000 after buying an additional 313 shares during the last quarter. Finally, MAI Capital Management bought a new stake in Arcellx in the third quarter worth about $26,000. Institutional investors own 96.03% of the company's stock.

Arcellx Stock Down 0.1%

Arcellx stock opened at $114.29 on Friday. Arcellx has a 52 week low of $47.86 and a 52 week high of $114.80. The company's 50 day moving average price is $80.64 and its two-hundred day moving average price is $78.87. The stock has a market cap of $6.68 billion, a P/E ratio of -28.08 and a beta of 0.23.

Arcellx (NASDAQ:ACLX - Get Free Report) last released its earnings results on Thursday, February 26th. The company reported ($1.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($1.01). The company had revenue of $1.65 million during the quarter, compared to analyst estimates of $13.40 million. Arcellx had a negative return on equity of 55.42% and a negative net margin of 1,027.26%. On average, equities analysts anticipate that Arcellx will post -1.58 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ACLX shares. TD Cowen downgraded Arcellx from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 2nd. HC Wainwright downgraded Arcellx from a "buy" rating to a "neutral" rating and set a $115.00 price objective for the company. in a research note on Monday, February 23rd. Stifel Nicolaus restated a "hold" rating and issued a $115.00 target price (down from $127.00) on shares of Arcellx in a report on Monday, February 23rd. UBS Group cut Arcellx from a "buy" rating to a "neutral" rating and lifted their target price for the company from $100.00 to $115.00 in a research report on Tuesday, February 24th. Finally, Citigroup downgraded Arcellx from a "buy" rating to a "neutral" rating and upped their price target for the stock from $110.00 to $115.00 in a report on Tuesday, February 24th. One investment analyst has rated the stock with a Buy rating, seventeen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Arcellx currently has a consensus rating of "Hold" and a consensus target price of $111.87.

Arcellx Company Profile

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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