Stifel Nicolaus Raises Arcellx (NASDAQ:ACLX) Price Target to $122.00

Arcellx (NASDAQ:ACLX) had its price objective hoisted by Stifel Nicolaus from $83.00 to $122.00 in a report released on Friday, Marketbeat.com reports. The firm currently has a buy rating on the stock.

A number of other equities analysts have also recently issued reports on ACLX. Canaccord Genuity Group increased 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. Needham & Company LLC reissued a “buy” rating and set a $81.00 price objective on shares of Arcellx in a research report on Friday, August 9th. Redburn Atlantic assumed coverage on shares of Arcellx in a research report on Tuesday, October 8th. They set a “buy” rating and a $109.00 price objective on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcellx in a research report on Monday, September 9th. Thirteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $88.50.

Arcellx Trading Up 1.7 %

Shares of Arcellx stock opened at $96.86 on Friday. The business has a 50-day moving average price of $76.12 and a two-hundred day moving average price of $62.70. Arcellx has a 1-year low of $30.88 and a 1-year high of $97.54. The company has a market cap of $5.18 billion, a P/E ratio of -94.04 and a beta of 0.25.

Arcellx (NASDAQ:ACLX) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.51) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.01. The firm had revenue of $27.38 million during the quarter, compared to the consensus estimate of $22.04 million. Arcellx had a negative return on equity of 12.42% and a negative net margin of 37.23%. The firm’s revenue was up 91.5% on a year-over-year basis. Equities research analysts forecast that Arcellx will post -1.65 EPS for the current fiscal year.

Insider Buying and Selling at Arcellx

In other Arcellx news, CFO Michelle Gilson sold 15,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $77.73, for a total transaction of $1,165,950.00. Following the completion of the sale, the chief financial officer now directly owns 6,915 shares in the company, valued at $537,502.95. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Michelle Gilson sold 15,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $77.73, for a total transaction of $1,165,950.00. Following the completion of the transaction, the chief financial officer now directly owns 6,915 shares of the company’s stock, valued at approximately $537,502.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kavita Patel sold 1,500 shares of the company’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $61.97, for a total transaction of $92,955.00. The disclosure for this sale can be found here. Insiders sold a total of 70,556 shares of company stock worth $4,992,265 over the last three months. Company insiders own 6.24% of the company’s stock.

Hedge Funds Weigh In On Arcellx

A number of institutional investors have recently bought and sold shares of ACLX. Great Point Partners LLC raised its stake in Arcellx by 64.0% in the second quarter. Great Point Partners LLC now owns 492,000 shares of the company’s stock worth $27,153,000 after buying an additional 192,000 shares in the last quarter. Bamco Inc. NY increased its stake 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 purchasing an additional 185,493 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Arcellx by 8.1% during the first quarter. Vanguard Group Inc. now owns 2,228,856 shares of the company’s stock valued at $155,017,000 after purchasing an additional 167,037 shares in the last quarter. Affinity Asset Advisors LLC increased its stake in shares of Arcellx by 53.3% during the second quarter. Affinity Asset Advisors LLC now owns 460,000 shares of the company’s stock valued at $25,387,000 after purchasing an additional 160,000 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Arcellx by 6.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,344,553 shares of the company’s stock valued at $93,514,000 after purchasing an additional 84,373 shares in the last quarter. 96.03% of the stock is owned by institutional investors.

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).