Analysts Set Arcellx, Inc. (NASDAQ:ACLX) Price Target at $43.67

Posted by on Apr 24th, 2023

Arcellx, Inc. (NASDAQ:ACLX – Get Rating) has been given a consensus rating of “Buy” by the twelve research firms that are presently covering the company, Marketbeat Ratings reports. Nine analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $43.67.

A number of research firms recently weighed in on ACLX. Canaccord Genuity Group boosted their target price on Arcellx from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, April 19th. Robert W. Baird initiated coverage on shares of Arcellx in a report on Thursday, April 13th. They set an “outperform” rating and a $39.00 target price on the stock. SVB Leerink lifted their target price on shares of Arcellx from $35.00 to $39.00 and gave the stock an “outperform” rating in a research report on Thursday, March 30th. Stifel Nicolaus started coverage on shares of Arcellx in a research report on Monday, March 13th. They set a “buy” rating and a $43.00 price target for the company. Finally, SVB Securities lifted their price objective on Arcellx from $35.00 to $39.00 in a report on Thursday, March 30th.

Insider Activity at Arcellx

In other news, insider Christopher Heery sold 1,255 shares of the business’s stock in a transaction that occurred on Friday, February 3rd. The stock was sold at an average price of $35.11, for a total transaction of $44,063.05. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have sold a total of 26,863 shares of company stock worth $898,163 in the last 90 days. Company insiders own 5.57% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ACLX. Citigroup Inc. purchased a new position in Arcellx during the 1st quarter valued at about $26,000. Metropolitan Life Insurance Co NY purchased a new stake in shares of Arcellx in the 3rd quarter worth approximately $36,000. Shell Asset Management Co. bought a new position in Arcellx during the 4th quarter valued at approximately $69,000. High Net Worth Advisory Group LLC raised its stake in Arcellx by 66.7% during the third quarter. High Net Worth Advisory Group LLC now owns 2,500 shares of the company’s stock valued at $47,000 after buying an additional 1,000 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in Arcellx by 30.3% in the fourth quarter. Wells Fargo & Company MN now owns 2,660 shares of the company’s stock worth $82,000 after acquiring an additional 618 shares in the last quarter. Hedge funds and other institutional investors own 91.78% of the company’s stock.

Arcellx Trading Up 8.5 %

Shares of ACLX stock opened at $39.56 on Friday. The business has a 50-day moving average price of $29.59 and a two-hundred day moving average price of $27.33. Arcellx has a 12-month low of $6.03 and a 12-month high of $39.89. The company has a quick ratio of 4.71, a current ratio of 4.71 and a debt-to-equity ratio of 0.10. The firm has a market cap of $1.89 billion, a P/E ratio of -7.44 and a beta of -0.43.

Arcellx Company Profile

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Arcellx, Inc, a clinical-stage biotechnology company, engages in the development of various immunotherapies for patients with cancer and other incurable diseases. The company's lead ddCAR product candidate is CART-ddBCMA, which is in phase 1 clinical trial for the treatment of patients with relapsed or refractory (r/r) multiple myeloma (MM).

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Analyst Recommendations for Arcellx (NASDAQ:ACLX)

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