Short Interest in Arcellx, Inc. (NASDAQ:ACLX) Rises By 6.6%

Arcellx, Inc. (NASDAQ:ACLX) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 5,810,000 shares, an increase of 6.6% from the December 15th total of 5,450,000 shares. Based on an average trading volume of 601,000 shares, the short-interest ratio is presently 9.7 days. Currently, 14.3% of the shares of the company are short sold.

Arcellx Price Performance

Shares of NASDAQ ACLX opened at $66.48 on Monday. The firm’s 50 day simple moving average is $82.16 and its 200-day simple moving average is $76.43. Arcellx has a 12 month low of $47.88 and a 12 month high of $107.37. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of -93.63 and a beta of 0.33.

Arcellx (NASDAQ:ACLX) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.48) EPS for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.06. The business had revenue of $26.03 million during the quarter, compared to analysts’ expectations of $35.21 million. Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. Analysts anticipate that Arcellx will post -1.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Arcellx news, Director Kavita Patel sold 1,500 shares of the stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $65.87, for a total transaction of $98,805.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher Heery sold 3,301 shares of Arcellx stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $79.55, for a total value of $262,594.55. Following the completion of the sale, the insider now directly owns 35,517 shares in the company, valued at approximately $2,825,377.35. The trade was a 8.50 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 64,916 shares of company stock worth $6,377,335. Company insiders own 6.24% of the company’s stock.

Institutional Investors Weigh In On Arcellx

Large investors have recently modified their holdings of the business. First Turn Management LLC purchased a new stake in shares of Arcellx in the 3rd quarter valued at approximately $17,896,000. Charles Schwab Investment Management Inc. increased its stake in Arcellx by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 328,093 shares of the company’s stock worth $27,399,000 after buying an additional 14,200 shares during the period. Harbor Capital Advisors Inc. grew its position in shares of Arcellx by 37.0% during the third quarter. Harbor Capital Advisors Inc. now owns 27,896 shares of the company’s stock worth $2,330,000 after buying an additional 7,534 shares in the last quarter. Lord Abbett & CO. LLC increased its holdings in shares of Arcellx by 2.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 891,848 shares of the company’s stock valued at $74,478,000 after acquiring an additional 18,004 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in Arcellx during the 3rd quarter worth $800,000. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on ACLX shares. Bank of America upped their price target on shares of Arcellx from $84.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Needham & Company LLC reissued a “buy” rating and set a $105.00 price target on shares of Arcellx in a research report on Monday, December 9th. Barclays upgraded Arcellx to a “strong-buy” rating in a report on Friday, November 29th. Stifel Nicolaus boosted their target price on shares of Arcellx from $83.00 to $122.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Redburn Atlantic began coverage on shares of Arcellx in a report on Tuesday, October 8th. They issued a “buy” rating and a $109.00 price target on the stock. Thirteen analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Arcellx currently has an average rating of “Buy” and an average price target of $105.93.

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).