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

Arcellx, Inc. (NASDAQ:ACLX) was the target of a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 4,810,000 shares, an increase of 10.3% from the May 31st total of 4,360,000 shares. Based on an average daily volume of 464,200 shares, the short-interest ratio is currently 10.4 days. Approximately 12.0% of the shares of the company are sold short.

Insiders Place Their Bets

In other Arcellx news, insider Christopher Heery sold 18,168 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $51.33, for a total value of $932,563.44. Following the transaction, the insider now owns 8,938 shares of the company’s stock, valued at $458,787.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Arcellx news, insider Christopher Heery sold 18,168 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $51.33, for a total value of $932,563.44. Following the sale, the insider now directly owns 8,938 shares in the company, valued at $458,787.54. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Michelle Gilson sold 12,121 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $50.71, for a total value of $614,655.91. Following the completion of the sale, the chief financial officer now owns 19,792 shares in the company, valued at $1,003,652.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 82,568 shares of company stock valued at $4,406,295. Insiders own 6.24% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ACLX. Perceptive Advisors LLC raised its position in Arcellx by 14.6% during the 4th quarter. Perceptive Advisors LLC now owns 4,544,809 shares of the company’s stock valued at $252,237,000 after purchasing an additional 578,831 shares during the last quarter. Bamco Inc. NY raised its position in Arcellx by 292.1% during the 1st quarter. Bamco Inc. NY now owns 248,993 shares of the company’s stock valued at $17,317,000 after purchasing an additional 185,493 shares during the last quarter. Vanguard Group Inc. raised its position in Arcellx by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 2,228,856 shares of the company’s stock valued at $155,017,000 after purchasing an additional 167,037 shares during the last quarter. Federated Hermes Inc. raised its position in Arcellx by 200.6% during the 4th quarter. Federated Hermes Inc. now owns 214,599 shares of the company’s stock valued at $11,910,000 after purchasing an additional 143,212 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in Arcellx by 425.0% during the 4th quarter. Victory Capital Management Inc. now owns 155,652 shares of the company’s stock valued at $8,639,000 after purchasing an additional 126,002 shares during the last quarter. Institutional investors own 96.03% of the company’s stock.

Arcellx Price Performance

Shares of ACLX stock opened at $53.25 on Wednesday. The stock has a market capitalization of $2.85 billion, a PE ratio of -51.70 and a beta of 0.23. Arcellx has a 1-year low of $30.74 and a 1-year high of $75.10. The business has a 50-day moving average of $52.83 and a 200 day moving average of $58.36.

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $81.00 price objective on shares of Arcellx in a research note on Tuesday, May 7th. Evercore ISI assumed coverage on Arcellx in a research note on Tuesday, May 14th. They issued an “outperform” rating and a $85.00 target price on the stock. Piper Sandler assumed coverage on Arcellx in a research note on Friday, May 31st. They issued an “overweight” rating and a $70.00 target price on the stock. Scotiabank restated an “outperform” rating and issued a $82.00 target price on shares of Arcellx in a research note on Thursday, April 4th. Finally, Truist Financial reiterated a “buy” rating and issued a $87.00 price objective on shares of Arcellx in a report on Tuesday, June 18th. Thirteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Arcellx currently has an average rating of “Buy” and an average target price of $78.00.

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).