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

Arcellx, Inc. (NASDAQ:ACLX – Get Rating) saw a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 3,120,000 shares, an increase of 8.0% from the February 13th total of 2,890,000 shares. Approximately 14.1% of the shares of the company are short sold. Based on an average daily trading volume, of 572,500 shares, the short-interest ratio is currently 5.4 days.

Analyst Ratings Changes

Several brokerages have recently issued reports on ACLX. Stifel Nicolaus began coverage on shares of Arcellx in a research note on Monday. They issued a “buy” rating and a $43.00 target price on the stock. Piper Sandler lifted their price target on shares of Arcellx from $96.00 to $104.00 in a research note on Friday, December 9th. Needham & Company LLC lifted their price target on shares of Arcellx from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, December 12th. HC Wainwright started coverage on shares of Arcellx in a report on Monday, February 13th. They issued a “buy” rating and a $42.00 price objective on the stock. Finally, Barclays boosted their target price on shares of Arcellx from $25.00 to $38.00 and gave the stock an “overweight” rating in a report on Monday, December 12th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $43.60.

Arcellx Stock Performance

NASDAQ:ACLX opened at $30.11 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 6.48 and a quick ratio of 6.48. The business has a 50 day moving average of $30.48 and a 200 day moving average of $25.02. The company has a market capitalization of $1.32 billion and a price-to-earnings ratio of -0.68. Arcellx has a 1-year low of $6.03 and a 1-year high of $35.26.

Insiders Place Their Bets

In related news, insider Christopher Heery sold 2,500 shares of the business’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $31.11, for a total value of $77,775.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold a total of 11,290 shares of company stock valued at $354,036 in the last three months.

Institutional Investors Weigh In On Arcellx

Several hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. purchased a new stake in Arcellx during the first quarter valued at $60,000. Bank of New York Mellon Corp bought a new stake in shares of Arcellx in the 1st quarter valued at approximately $332,000. Citigroup Inc. bought a new stake in shares of Arcellx during the 1st quarter worth approximately $26,000. BlackRock Inc. purchased a new position in shares of Arcellx in the 1st quarter valued at $7,012,000. Finally, Vanguard Group Inc. acquired a new stake in shares of Arcellx in the 1st quarter worth $6,151,000. 91.78% of the stock is owned by institutional investors.

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).