HC Wainwright Brokers Boost Earnings Estimates for Arcellx

Arcellx, Inc. (NASDAQ:ACLX) – Equities research analysts at HC Wainwright boosted their Q3 2024 EPS estimates for Arcellx in a research note issued on Tuesday, November 5th. HC Wainwright analyst E. Bodnar now expects that the company will post earnings per share of ($0.66) for the quarter, up from their prior estimate of ($0.68). HC Wainwright currently has a “Buy” rating and a $95.00 price objective on the stock. The consensus estimate for Arcellx’s current full-year earnings is ($1.65) per share. HC Wainwright also issued estimates for Arcellx’s Q4 2024 earnings at ($0.57) EPS, FY2024 earnings at ($1.87) EPS, FY2025 earnings at ($3.11) EPS, FY2026 earnings at ($5.00) EPS, FY2027 earnings at ($2.79) EPS and FY2028 earnings at $0.59 EPS.

ACLX has been the topic of several other research reports. Morgan Stanley lifted their target price on Arcellx from $81.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday. Bank of America upped their target price on shares of Arcellx from $84.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arcellx in a report on Monday, September 9th. Robert W. Baird boosted their price target on shares of Arcellx from $77.00 to $106.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Canaccord Genuity Group upped their price objective on shares of Arcellx from $85.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Thirteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Arcellx presently has an average rating of “Buy” and a consensus target price of $99.31.

Arcellx Stock Performance

Shares of ACLX opened at $103.06 on Friday. The firm has a market capitalization of $5.54 billion, a P/E ratio of -99.10 and a beta of 0.27. Arcellx has a 52 week low of $43.50 and a 52 week high of $106.24. The stock has a 50 day moving average price of $83.01 and a two-hundred day moving average price of $65.94.

Arcellx (NASDAQ:ACLX) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.51) earnings per share for the quarter, beating the consensus estimate of ($0.52) by $0.01. The business had revenue of $27.38 million for the quarter, compared to analysts’ expectations of $22.04 million. Arcellx had a negative net margin of 37.23% and a negative return on equity of 12.42%. The company’s revenue was up 91.5% on a year-over-year basis.

Insider Transactions at Arcellx

In related news, insider Christopher Heery sold 27,451 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $67.03, for a total value of $1,840,040.53. Following the transaction, the insider now owns 9,278 shares in the company, valued at approximately $621,904.34. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Arcellx news, insider Christopher Heery sold 27,451 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $67.03, for a total transaction of $1,840,040.53. Following the completion of the transaction, the insider now owns 9,278 shares in the company, valued at $621,904.34. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kavita Patel sold 1,500 shares of Arcellx stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $74.41, for a total transaction of $111,615.00. The disclosure for this sale can be found here. Insiders sold a total of 70,556 shares of company stock worth $5,033,845 in the last quarter. Insiders own 6.24% of the company’s stock.

Institutional Investors Weigh In On Arcellx

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. First Turn Management LLC bought a new position in shares of Arcellx in the third quarter worth $17,896,000. Great Point Partners LLC increased its position in shares of Arcellx by 64.0% during the second quarter. Great Point Partners LLC now owns 492,000 shares of the company’s stock valued at $27,153,000 after buying an additional 192,000 shares during the period. Bamco Inc. NY increased its position in shares of Arcellx by 292.1% during the first quarter. Bamco Inc. NY now owns 248,993 shares of the company’s stock valued at $17,317,000 after buying an additional 185,493 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Arcellx by 8.1% in the first quarter. Vanguard Group Inc. now owns 2,228,856 shares of the company’s stock worth $155,017,000 after buying an additional 167,037 shares in the last quarter. Finally, Affinity Asset Advisors LLC boosted its position in shares of Arcellx by 53.3% in the second quarter. Affinity Asset Advisors LLC now owns 460,000 shares of the company’s stock valued at $25,387,000 after acquiring an additional 160,000 shares during the period. Institutional investors own 96.03% of the company’s stock.

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).