Short Interest in Arcellx, Inc. (NASDAQ:ACLX) Increases By 17.5%

Arcellx, Inc. (NASDAQ:ACLX) was the target of a significant increase in short interest in November. As of November 30th, there was short interest totalling 5,230,000 shares, an increase of 17.5% from the November 15th total of 4,450,000 shares. Currently, 12.9% of the company’s stock are short sold. Based on an average trading volume of 545,200 shares, the short-interest ratio is presently 9.6 days.

Arcellx Stock Performance

Shares of NASDAQ:ACLX opened at $83.80 on Monday. Arcellx has a one year low of $47.88 and a one year high of $107.37. The stock has a market capitalization of $4.53 billion, a price-to-earnings ratio of -118.03 and a beta of 0.25. The company has a 50-day simple moving average of $88.93 and a 200-day simple moving average of $72.72.

Arcellx (NASDAQ:ACLX) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $0.06. Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. The firm 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 -1.49 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Kavita Patel sold 1,500 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $91.88, for a total transaction of $137,820.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michelle Gilson sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $77.73, for a total transaction of $1,165,950.00. Following the completion of the sale, the chief financial officer now directly owns 6,915 shares in the company, valued at approximately $537,502.95. This trade represents a 68.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 67,001 shares of company stock worth $6,568,393 over the last 90 days. Corporate insiders own 6.24% of the company’s stock.

Institutional Investors Weigh In On Arcellx

Several large investors have recently modified their holdings of ACLX. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Arcellx by 21.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,944 shares of the company’s stock worth $161,000 after acquiring an additional 347 shares during the period. Quest Partners LLC acquired a new stake in Arcellx in the second quarter valued at about $27,000. National Bank of Canada FI boosted its holdings in Arcellx by 50.0% in the 2nd quarter. National Bank of Canada FI now owns 1,500 shares of the company’s stock valued at $80,000 after purchasing an additional 500 shares in the last quarter. High Net Worth Advisory Group LLC increased its position in Arcellx by 6.3% during the 3rd quarter. High Net Worth Advisory Group LLC now owns 8,500 shares of the company’s stock worth $710,000 after purchasing an additional 500 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of Arcellx by 1.4% during the 2nd quarter. Principal Financial Group Inc. now owns 37,352 shares of the company’s stock worth $2,061,000 after buying an additional 517 shares in the last quarter. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ACLX shares. Needham & Company LLC reissued a “buy” rating and issued a $105.00 target price on shares of Arcellx in a report on Monday, December 9th. Canaccord Genuity Group raised their target price on Arcellx from $85.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Stifel Nicolaus upped their price target on Arcellx from $83.00 to $122.00 and gave the company a “buy” rating in a report on Friday, October 18th. Robert W. Baird raised their price objective on shares of Arcellx from $77.00 to $106.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Finally, HC Wainwright restated a “buy” rating and set a $115.00 price objective on shares of Arcellx in a research report on Tuesday, December 10th. Thirteen analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Arcellx presently has a consensus rating of “Buy” and an average target price 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).