Short Interest in Arcellx, Inc. (NASDAQ:ACLX) Increases By 5.2%

Arcellx, Inc. (NASDAQ:ACLX) saw a significant increase in short interest in March. As of March 15th, there was short interest totalling 3,610,000 shares, an increase of 5.2% from the February 29th total of 3,430,000 shares. Approximately 9.8% of the shares of the company are short sold. Based on an average trading volume of 458,600 shares, the days-to-cover ratio is currently 7.9 days.

Insider Activity at Arcellx

In other news, CFO Michelle Gilson sold 8,514 shares of the business’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $55.27, for a total value of $470,568.78. Following the completion of the sale, the chief financial officer now directly owns 16,310 shares in the company, valued at $901,453.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Olivia C. Ware sold 9,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $70.40, for a total value of $633,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michelle Gilson sold 8,514 shares of the business’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $55.27, for a total value of $470,568.78. Following the completion of the sale, the chief financial officer now owns 16,310 shares of the company’s stock, valued at $901,453.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 589,438 shares of company stock worth $41,259,283. 5.86% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Arcellx

Large investors have recently bought and sold shares of the stock. Rafferty Asset Management LLC boosted its position in shares of Arcellx by 10.2% during the 3rd quarter. Rafferty Asset Management LLC now owns 158,778 shares of the company’s stock worth $5,697,000 after acquiring an additional 14,682 shares in the last quarter. Suvretta Capital Management LLC boosted its position in shares of Arcellx by 18.8% during the 2nd quarter. Suvretta Capital Management LLC now owns 2,848,167 shares of the company’s stock worth $90,059,000 after acquiring an additional 449,846 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in shares of Arcellx by 98.4% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,248 shares of the company’s stock worth $45,000 after acquiring an additional 619 shares in the last quarter. Vivo Capital LLC boosted its position in shares of Arcellx by 16.1% during the 3rd quarter. Vivo Capital LLC now owns 503,565 shares of the company’s stock worth $18,068,000 after acquiring an additional 69,780 shares in the last quarter. Finally, Swiss National Bank boosted its position in shares of Arcellx by 21.5% during the 3rd quarter. Swiss National Bank now owns 63,300 shares of the company’s stock worth $2,271,000 after acquiring an additional 11,200 shares in the last quarter. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Truist Financial boosted their price objective on Arcellx from $57.00 to $87.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Scotiabank lifted their price target on Arcellx to $82.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Morgan Stanley initiated coverage on Arcellx in a research note on Thursday, March 7th. They issued an “overweight” rating and a $81.00 price target on the stock. Needham & Company LLC boosted their price objective on Arcellx from $72.00 to $81.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Finally, Barclays boosted their price objective on Arcellx from $62.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $74.17.

Arcellx Trading Down 3.9 %

ACLX stock opened at $64.39 on Wednesday. The business’s fifty day moving average price is $66.17 and its 200 day moving average price is $53.11. Arcellx has a 12-month low of $27.28 and a 12-month high of $75.10. The company has a market capitalization of $3.40 billion, a PE ratio of -43.80 and a beta of 0.02.

Arcellx (NASDAQ:ACLX) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of ($0.53) by $0.95. Arcellx had a negative return on equity of 20.96% and a negative net margin of 64.08%. The company had revenue of $63.15 million for the quarter, compared to the consensus estimate of $20.07 million. During the same quarter in the prior year, the business earned ($0.76) EPS. Research analysts predict that Arcellx will post -1.69 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).