Arcellx, Inc. (NASDAQ:ACLX) Short Interest Update

Arcellx, Inc. (NASDAQ:ACLX) saw a large increase in short interest in January. As of January 15th, there was short interest totalling 5,810,000 shares, an increase of 6.6% from the December 31st total of 5,450,000 shares. Based on an average daily volume of 601,000 shares, the short-interest ratio is currently 9.7 days. Currently, 14.3% of the shares of the stock are sold short.

Insider Activity

In other news, Director Kavita Patel sold 1,500 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $91.88, for a total transaction of $137,820.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Christopher Heery sold 3,301 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $79.55, for a total value of $262,594.55. Following the completion of the transaction, the insider now owns 35,517 shares of the company’s stock, valued at $2,825,377.35. The trade was a 8.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,416 shares of company stock worth $6,242,800. Corporate insiders own 6.24% of the company’s stock.

Hedge Funds Weigh In On Arcellx

Hedge funds and other institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC bought a new stake in shares of Arcellx in the second quarter worth about $1,494,000. AQR Capital Management LLC grew its position in shares of Arcellx by 38.9% in the 2nd quarter. AQR Capital Management LLC now owns 16,852 shares of the company’s stock worth $930,000 after buying an additional 4,718 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Arcellx by 55.4% during the second quarter. The Manufacturers Life Insurance Company now owns 73,332 shares of the company’s stock valued at $4,047,000 after buying an additional 26,134 shares during the period. SG Americas Securities LLC bought a new position in shares of Arcellx during the third quarter valued at approximately $1,005,000. Finally, Handelsbanken Fonder AB lifted its stake in Arcellx by 22.3% in the third quarter. Handelsbanken Fonder AB now owns 12,600 shares of the company’s stock worth $1,052,000 after acquiring an additional 2,300 shares during the period. 96.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ACLX has been the subject of a number of research analyst reports. Morgan Stanley lifted their price target on Arcellx from $81.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. UBS Group boosted their price objective on shares of Arcellx from $106.00 to $114.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Robert W. Baird increased their price objective on Arcellx from $77.00 to $106.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Barclays raised Arcellx to a “strong-buy” rating in a research note on Friday, November 29th. Finally, Piper Sandler boosted their price objective on Arcellx from $91.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Thirteen analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Arcellx has a consensus rating of “Buy” and a consensus target price of $105.93.

Arcellx Price Performance

Shares of NASDAQ:ACLX opened at $64.76 on Tuesday. The firm has a fifty day moving average price of $76.14 and a two-hundred day moving average price of $76.86. The company has a market cap of $3.50 billion, a price-to-earnings ratio of -91.21 and a beta of 0.29. Arcellx has a one year low of $47.88 and a one year high of $107.37.

Arcellx (NASDAQ:ACLX) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.48) earnings per share for the quarter, topping the consensus estimate of ($0.54) by $0.06. The business had revenue of $26.03 million during the quarter, compared to the consensus estimate of $35.21 million. Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. Equities research analysts expect that Arcellx will post -1.58 EPS for the current fiscal year.

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).