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

Arcellx, Inc. (NASDAQ:ACLX) was the target of a large growth in short interest in June. As of June 15th, there was short interest totalling 4,810,000 shares, a growth of 10.3% from the May 31st total of 4,360,000 shares. Currently, 12.0% of the shares of the stock are short sold. Based on an average trading volume of 464,200 shares, the days-to-cover ratio is currently 10.4 days.

Analyst Ratings Changes

A number of analysts recently commented on ACLX shares. Stifel Nicolaus lifted their price objective on Arcellx from $82.00 to $83.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. HC Wainwright reduced their price objective on shares of Arcellx from $82.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, May 13th. Scotiabank reaffirmed an “outperform” rating and issued a $82.00 target price on shares of Arcellx in a research note on Thursday, April 4th. Needham & Company LLC restated a “buy” rating and set a $81.00 price objective on shares of Arcellx in a report on Tuesday, May 7th. Finally, Piper Sandler began coverage on Arcellx in a research report on Friday, May 31st. They issued an “overweight” rating and a $70.00 price objective for the company. Thirteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $78.00.

Insider Buying and Selling

In other news, Director Olivia C. Ware sold 9,402 shares of the firm’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $55.55, for a total value of $522,281.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Olivia C. Ware sold 9,402 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $55.55, for a total value of $522,281.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Christopher Heery sold 20,000 shares of Arcellx stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $55.13, for a total value of $1,102,600.00. Following the transaction, the insider now owns 9,278 shares of the company’s stock, valued at $511,496.14. The disclosure for this sale can be found here. Insiders have sold a total of 102,568 shares of company stock worth $5,514,095 in the last quarter. Company insiders own 6.24% of the company’s stock.

Institutional Investors Weigh In On Arcellx

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Perceptive Advisors LLC increased its holdings in Arcellx by 14.6% during the 4th quarter. Perceptive Advisors LLC now owns 4,544,809 shares of the company’s stock worth $252,237,000 after purchasing an additional 578,831 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Arcellx by 8.1% during the first quarter. Vanguard Group Inc. now owns 2,228,856 shares of the company’s stock worth $155,017,000 after purchasing an additional 167,037 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Arcellx by 6.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,344,553 shares of the company’s stock valued at $93,514,000 after buying an additional 84,373 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its position in shares of Arcellx by 5.4% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 392,904 shares of the company’s stock worth $14,097,000 after acquiring an additional 20,000 shares in the last quarter. Finally, PFM Health Sciences LP increased its holdings in shares of Arcellx by 39.5% in the 4th quarter. PFM Health Sciences LP now owns 335,198 shares of the company’s stock valued at $18,603,000 after acquiring an additional 94,860 shares during the last quarter. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Arcellx Stock Up 2.8 %

ACLX opened at $54.72 on Thursday. The company has a 50 day moving average of $52.87 and a two-hundred day moving average of $58.34. Arcellx has a 52-week low of $30.74 and a 52-week high of $75.10. The company has a market cap of $2.93 billion, a P/E ratio of -53.13 and a beta of 0.23.

Arcellx (NASDAQ:ACLX) last issued its earnings results on Thursday, May 9th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.51) by $0.37. The company had revenue of $39.26 million during the quarter, compared to the consensus estimate of $20.67 million. Arcellx had a negative return on equity of 13.11% and a negative net margin of 38.39%. The company’s revenue was up 119.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.58) earnings per share. Research analysts anticipate that Arcellx will post -1.7 earnings per share for the current 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).