Arcellx (NASDAQ:ACLX) Sees Large Volume Increase – Should You Buy?

Shares of Arcellx, Inc. (NASDAQ:ACLX) saw unusually-strong trading volume on Monday . Approximately 636,156 shares traded hands during trading, an increase of 56% from the previous session’s volume of 409,059 shares.The stock last traded at $74.60 and had previously closed at $79.13.

Analysts Set New Price Targets

Several equities analysts have commented on ACLX shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $105.00 price objective on shares of Arcellx in a research report on Monday, December 9th. Morgan Stanley raised their price target on shares of Arcellx from $81.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Cantor Fitzgerald reissued an “overweight” rating on shares of Arcellx in a research report on Monday, September 9th. Piper Sandler raised their target price on shares of Arcellx from $91.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, UBS Group boosted their price target on Arcellx from $106.00 to $114.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Thirteen analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Arcellx currently has an average rating of “Buy” and an average target price of $105.93.

Arcellx Stock Down 5.2 %

The firm has a market cap of $4.06 billion, a PE ratio of -105.65 and a beta of 0.25. The stock has a 50 day moving average price of $86.15 and a two-hundred day moving average price of $75.19.

Arcellx (NASDAQ:ACLX) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.06. The business had revenue of $26.03 million during the quarter, compared to analysts’ expectations of $35.21 million. Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. As a group, equities analysts anticipate that Arcellx, Inc. will post -1.49 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Kavita Patel sold 1,500 shares of the business’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $76.97, for a total value of $115,455.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders sold 53,501 shares of company stock valued at $5,517,898. 6.24% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ACLX. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Arcellx by 21.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,944 shares of the company’s stock valued at $161,000 after purchasing an additional 347 shares in the last quarter. Quest Partners LLC purchased a new position in Arcellx in the second quarter valued at $27,000. National Bank of Canada FI boosted its position in Arcellx by 50.0% during the second quarter. National Bank of Canada FI now owns 1,500 shares of the company’s stock worth $80,000 after purchasing an additional 500 shares in the last quarter. High Net Worth Advisory Group LLC grew its holdings in Arcellx by 6.3% in the third quarter. High Net Worth Advisory Group LLC now owns 8,500 shares of the company’s stock valued at $710,000 after purchasing an additional 500 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of Arcellx by 1.4% during the 2nd quarter. Principal Financial Group Inc. now owns 37,352 shares of the company’s stock worth $2,061,000 after buying an additional 517 shares during the period. 96.03% of the stock is owned by institutional investors and hedge funds.

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).