Arcellx (ACLX) Expected to Announce Quarterly Earnings on Wednesday

Arcellx (NASDAQ:ACLX) will likely be announcing its earnings results before the market opens on Wednesday, February 26th. Analysts expect the company to announce earnings of ($0.63) per share for the quarter.

Arcellx Trading Down 2.8 %

Shares of Arcellx stock opened at $63.75 on Monday. Arcellx has a 12-month low of $47.88 and a 12-month high of $107.37. The stock has a market cap of $3.45 billion, a PE ratio of -89.79 and a beta of 0.29. The company has a 50-day moving average of $70.11 and a two-hundred day moving average of $77.46.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. 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 research note on Wednesday, November 6th. Truist Financial raised their price objective on shares of Arcellx from $87.00 to $136.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. UBS Group raised their price objective on shares of Arcellx from $106.00 to $114.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. HC Wainwright reissued a “buy” rating and set a $115.00 price objective on shares of Arcellx in a research note on Tuesday, December 10th. Finally, Piper Sandler raised their price objective on shares of Arcellx from $91.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Thirteen research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $105.93.

Insider Buying and Selling at Arcellx

In related news, insider Christopher Heery sold 3,553 shares of Arcellx stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $73.69, for a total transaction of $261,820.57. Following the transaction, the insider now owns 25,085 shares in the company, valued at approximately $1,848,513.65. The trade was a 12.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kavita Patel sold 1,500 shares of Arcellx stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $91.88, for a total transaction of $137,820.00. The disclosure for this sale can be found here. Insiders have sold a total of 15,915 shares of company stock worth $1,209,567 in the last quarter. 6.24% of the stock is owned by insiders.

Arcellx Company Profile

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).