FY2024 EPS Estimates for Arcellx Reduced by Leerink Partnrs

Arcellx, Inc. (NASDAQ:ACLX) – Investment analysts at Leerink Partnrs reduced their FY2024 EPS estimates for Arcellx in a research report issued to clients and investors on Wednesday, December 4th. Leerink Partnrs analyst D. Graybosch now anticipates that the company will earn ($1.84) per share for the year, down from their previous estimate of ($1.82). The consensus estimate for Arcellx’s current full-year earnings is ($1.49) per share. Leerink Partnrs also issued estimates for Arcellx’s Q4 2024 earnings at ($0.71) EPS and FY2025 earnings at ($3.02) EPS.

Arcellx (NASDAQ:ACLX) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.48) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.06. Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. The business had revenue of $26.03 million for the quarter, compared to analysts’ expectations of $35.21 million.

A number of other research analysts have also commented on the company. Robert W. Baird upped their price objective on Arcellx from $77.00 to $106.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Bank of America upped their price target on shares of Arcellx from $84.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Redburn Atlantic initiated coverage on shares of Arcellx in a research note on Tuesday, October 8th. They issued a “buy” rating and a $109.00 price objective for the company. Stifel Nicolaus increased their target price on shares of Arcellx from $83.00 to $122.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, Truist Financial boosted their price target on Arcellx from $87.00 to $136.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Twelve analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Arcellx currently has an average rating of “Buy” and an average target price of $103.08.

Arcellx Trading Down 2.2 %

Arcellx stock opened at $84.55 on Friday. The company has a market capitalization of $4.57 billion, a price-to-earnings ratio of -119.08 and a beta of 0.25. Arcellx has a 12 month low of $46.42 and a 12 month high of $107.37. The stock’s 50 day moving average is $88.46 and its 200-day moving average is $71.33.

Institutional Investors Weigh In On Arcellx

Institutional investors have recently modified their holdings of the company. RA Capital Management L.P. boosted its position in Arcellx by 15.4% during the third quarter. RA Capital Management L.P. now owns 1,851,479 shares of the company’s stock valued at $154,617,000 after acquiring an additional 247,465 shares during the last quarter. First Turn Management LLC acquired a new position in shares of Arcellx in the 3rd quarter valued at about $17,896,000. Great Point Partners LLC boosted its position in shares of Arcellx by 64.0% during the 2nd quarter. Great Point Partners LLC now owns 492,000 shares of the company’s stock valued at $27,153,000 after purchasing an additional 192,000 shares in the last quarter. Affinity Asset Advisors LLC increased its holdings in Arcellx by 53.3% in the second quarter. Affinity Asset Advisors LLC now owns 460,000 shares of the company’s stock worth $25,387,000 after purchasing an additional 160,000 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in Arcellx by 5.7% in the third quarter. Janus Henderson Group PLC now owns 2,011,950 shares of the company’s stock worth $168,026,000 after purchasing an additional 109,332 shares in the last quarter. 96.03% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Arcellx news, Director Kavita Patel sold 1,500 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $91.88, for a total value of $137,820.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Michelle Gilson sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $77.73, for a total value of $1,165,950.00. Following the transaction, the chief financial officer now owns 6,915 shares of the company’s stock, valued at $537,502.95. This trade represents a 68.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,501 shares of company stock worth $6,680,008 in the last ninety days. Company insiders own 6.24% 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).