Short Interest in Arcellx, Inc. (NASDAQ:ACLX) Declines By 10.3%

Arcellx, Inc. (NASDAQ:ACLXGet Free Report) was the target of a significant decrease in short interest in the month of February. As of February 15th, there was short interest totalling 3,560,000 shares, a decrease of 10.3% from the January 31st total of 3,970,000 shares. Currently, 10.3% of the shares of the stock are sold short. Based on an average trading volume of 562,400 shares, the short-interest ratio is presently 6.3 days.

Arcellx Stock Performance

Shares of NASDAQ:ACLX traded up $0.70 during trading on Monday, reaching $67.52. The stock had a trading volume of 138,766 shares, compared to its average volume of 429,457. The business has a fifty day moving average price of $59.68 and a 200-day moving average price of $47.74. Arcellx has a fifty-two week low of $26.32 and a fifty-two week high of $70.05.

Arcellx (NASDAQ:ACLXGet Free Report) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.53) by $0.95. The company had revenue of $63.15 million during the quarter, compared to the consensus estimate of $20.07 million. Arcellx had a negative net margin of 64.08% and a negative return on equity of 20.96%. During the same period in the previous year, the firm earned ($0.76) earnings per share. On average, equities analysts expect that Arcellx will post -2.05 EPS for the current year.

Insiders Place Their Bets

In other Arcellx news, CFO Michelle Gilson sold 8,514 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now owns 16,310 shares in the company, valued at $901,453.70. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Christopher Heery sold 7,598 shares of the company’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $55.27, for a total transaction of $419,941.46. Following the completion of the transaction, the insider now owns 17,859 shares in the company, valued at approximately $987,066.93. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Michelle Gilson sold 8,514 shares of the company’s stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $55.27, for a total transaction of $470,568.78. Following the transaction, the chief financial officer now owns 16,310 shares of the company’s stock, valued at approximately $901,453.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,535 shares of company stock worth $1,297,037. Company insiders own 5.86% of the company’s stock.

Institutional Trading of Arcellx

Institutional investors have recently added to or reduced their stakes in the stock. Amalgamated Bank raised its holdings in shares of Arcellx by 5.6% during the third quarter. Amalgamated Bank now owns 5,772 shares of the company’s stock worth $207,000 after purchasing an additional 308 shares during the period. Metropolitan Life Insurance Co NY grew its stake in shares of Arcellx by 21.8% in the 2nd quarter. Metropolitan Life Insurance Co NY now owns 2,092 shares of the company’s stock worth $66,000 after purchasing an additional 375 shares during the last quarter. Walleye Trading LLC grew its stake in shares of Arcellx by 2.6% in the 3rd quarter. Walleye Trading LLC now owns 14,804 shares of the company’s stock worth $531,000 after purchasing an additional 379 shares during the last quarter. E Fund Management Co. Ltd. increased its position in shares of Arcellx by 5.3% in the third quarter. E Fund Management Co. Ltd. now owns 8,156 shares of the company’s stock worth $293,000 after acquiring an additional 407 shares in the last quarter. Finally, Alps Advisors Inc. lifted its stake in Arcellx by 1.2% in the third quarter. Alps Advisors Inc. now owns 35,710 shares of the company’s stock valued at $1,281,000 after acquiring an additional 432 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Barclays upped their price target on shares of Arcellx from $62.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday. Needham & Company LLC upped their price target on shares of Arcellx from $71.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday. Scotiabank increased their price objective on shares of Arcellx to $82.00 and gave the company an “outperform” rating in a report on Thursday. HC Wainwright increased their price objective on shares of Arcellx from $60.00 to $82.00 and gave the company a “buy” rating in a report on Thursday. Finally, Canaccord Genuity Group increased their price objective on shares of Arcellx from $66.00 to $85.00 and gave the company a “buy” rating in a report on Thursday. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Arcellx currently has an average rating of “Buy” and an average target price of $62.92.

Check Out Our Latest Stock Report on ACLX

About Arcellx

(Get Free Report)

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 2 clinical trial for the treatment of patients with relapsed or refractory (r/r) multiple myeloma (MM).

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