Arcellx (ACLX) Expected to Announce Quarterly Earnings on Wednesday

Arcellx (NASDAQ:ACLX) is projected to issue its quarterly earnings data before the market opens on Wednesday, February 26th. Analysts expect the company to announce earnings of ($0.63) per share for the quarter.

Arcellx Stock Down 1.5 %

ACLX stock opened at $64.25 on Wednesday. The company has a market cap of $3.47 billion, a P/E ratio of -90.49 and a beta of 0.29. Arcellx has a twelve month low of $47.88 and a twelve month high of $107.37. The business has a fifty day moving average of $71.70 and a 200-day moving average of $77.12.

Insider Transactions at Arcellx

In related news, insider Christopher Heery sold 3,301 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $79.55, for a total transaction of $262,594.55. Following the completion of the transaction, the insider now directly owns 35,517 shares of the company’s stock, valued at approximately $2,825,377.35. This represents a 8.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kavita Patel sold 1,500 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $76.97, for a total value of $115,455.00. The disclosure for this sale can be found here. Insiders sold 15,915 shares of company stock valued at $1,209,567 over the last three months. Company insiders own 6.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Truist Financial upped their price objective on Arcellx from $87.00 to $136.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Bank of America upped their price objective on Arcellx from $84.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. UBS Group upped their price objective on Arcellx from $106.00 to $114.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Piper Sandler upped their price objective on Arcellx from $91.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Finally, Barclays upgraded Arcellx to a “strong-buy” rating in a report on Friday, November 29th. Thirteen investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company 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).