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

Arcellx, Inc. (NASDAQ:ACLX) was the recipient of a large increase in short interest during 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. Approximately 14.3% of the shares of the company are sold short. Based on an average trading volume of 601,000 shares, the days-to-cover ratio is presently 9.7 days.

Arcellx Stock Performance

Shares of ACLX opened at $66.48 on Friday. The company’s fifty day moving average is $82.16 and its 200 day moving average is $76.27. Arcellx has a fifty-two week low of $47.88 and a fifty-two week high of $107.37. The stock has a market capitalization of $3.59 billion, a PE ratio of -93.63 and a beta of 0.33.

Arcellx (NASDAQ:ACLX) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.48) earnings per share for the quarter, topping the consensus estimate of ($0.54) by $0.06. Arcellx had a negative net margin of 25.94% and a negative return on equity of 8.28%. The company had revenue of $26.03 million for the quarter, compared to analysts’ expectations of $35.21 million. As a group, research analysts forecast that Arcellx will post -1.58 earnings per share for the current year.

Insider Activity

In other news, insider Christopher Heery sold 3,301 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $79.55, for a total transaction of $262,594.55. Following the sale, the insider now owns 35,517 shares of the company’s stock, valued at $2,825,377.35. This trade represents a 8.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kavita Patel sold 15,238 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $105.92, for a total transaction of $1,614,008.96. The disclosure for this sale can be found here. Insiders have sold a total of 64,916 shares of company stock valued at $6,377,335 in the last 90 days. 6.24% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Arcellx

Several large investors have recently bought and sold shares of ACLX. Janus Henderson Group PLC boosted its stake in Arcellx by 5.7% during the third quarter. Janus Henderson Group PLC now owns 2,011,950 shares of the company’s stock worth $168,026,000 after buying an additional 109,332 shares during the period. RA Capital Management L.P. boosted its stake in Arcellx by 15.4% during the third quarter. RA Capital Management L.P. now owns 1,851,479 shares of the company’s stock worth $154,617,000 after buying an additional 247,465 shares during the period. Geode Capital Management LLC boosted its stake in Arcellx by 4.3% during the third quarter. Geode Capital Management LLC now owns 974,967 shares of the company’s stock worth $81,434,000 after buying an additional 39,781 shares during the period. Lord Abbett & CO. LLC boosted its stake in Arcellx by 2.1% during the third quarter. Lord Abbett & CO. LLC now owns 891,848 shares of the company’s stock worth $74,478,000 after buying an additional 18,004 shares during the period. Finally, Great Point Partners LLC boosted its stake in Arcellx by 64.0% during the second quarter. Great Point Partners LLC now owns 492,000 shares of the company’s stock worth $27,153,000 after buying an additional 192,000 shares during the period. Institutional investors own 96.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ACLX shares. HC Wainwright reissued a “buy” rating and issued a $115.00 price objective on shares of Arcellx in a report on Tuesday, December 10th. Robert W. Baird lifted their price target on shares of Arcellx from $77.00 to $106.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Barclays raised shares of Arcellx to a “strong-buy” rating in a report on Friday, November 29th. UBS Group lifted their price target on shares of Arcellx from $106.00 to $114.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, Canaccord Genuity Group lifted their price target on shares of Arcellx from $85.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Thirteen equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, 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).