Arcellx Sees Unusually High Options Volume (NASDAQ:ACLX)

by · The Markets Daily

Arcellx, Inc. (NASDAQ:ACLX – Get Free Report) saw some unusual options trading on Wednesday. Stock investors purchased 20,511 call options on the company. This is an increase of 13,574% compared to the typical volume of 150 call options.

Analyst Upgrades and Downgrades

ACLX has been the subject of a number of research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcellx in a research note on Monday, September 9th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $85.00 price objective on shares of Arcellx in a report on Monday, July 22nd. Piper Sandler started coverage on Arcellx in a research report on Friday, May 31st. They issued an “overweight” rating and a $70.00 price objective on the stock. Truist Financial restated a “buy” rating and set a $87.00 target price on shares of Arcellx in a research report on Tuesday, June 18th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $81.00 price target on shares of Arcellx in a report on Friday, August 9th. Fourteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $78.00.

Check Out Our Latest Stock Report on ACLX

Arcellx Trading Up 6.1 %

Arcellx stock opened at $85.43 on Friday. The firm has a market capitalization of $4.57 billion, a P/E ratio of -82.94 and a beta of 0.23. The business has a 50-day moving average of $65.87 and a 200-day moving average of $60.63. Arcellx has a 1 year low of $30.88 and a 1 year high of $86.11.

Arcellx (NASDAQ:ACLX – Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.01. The firm had revenue of $27.38 million during the quarter, compared to analysts’ expectations of $22.04 million. Arcellx had a negative net margin of 37.23% and a negative return on equity of 12.42%. The business’s quarterly revenue was up 91.5% on a year-over-year basis. Research analysts anticipate that Arcellx will post -1.65 EPS for the current fiscal year.

Insider Buying and Selling at Arcellx

In related news, CFO Michelle Gilson sold 12,877 shares of the stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $53.70, for a total transaction of $691,494.90. Following the completion of the sale, the chief financial officer now owns 6,915 shares in the company, valued at approximately $371,335.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Michelle Gilson sold 12,877 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $53.70, for a total transaction of $691,494.90. Following the completion of the sale, the chief financial officer now directly owns 6,915 shares of the company’s stock, valued at approximately $371,335.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavita Patel sold 10,000 shares of the business’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $54.27, for a total value of $542,700.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 129,505 shares of company stock valued at $8,351,337. 6.24% of the stock is currently owned by company insiders.

Institutional Trading of Arcellx

Several hedge funds have recently added to or reduced their stakes in the business. Quest Partners LLC bought a new stake in shares of Arcellx in the second quarter worth about $27,000. Plato Investment Management Ltd bought a new stake in Arcellx during the 1st quarter worth approximately $51,000. Decheng Capital LLC bought a new position in Arcellx in the second quarter valued at approximately $65,000. National Bank of Canada FI boosted its holdings in shares of Arcellx by 50.0% in the second quarter. National Bank of Canada FI now owns 1,500 shares of the company’s stock valued at $80,000 after buying an additional 500 shares during the period. Finally, Advisory Alpha LLC bought a new stake in shares of Arcellx during the first quarter worth $209,000. Institutional investors and hedge funds own 96.03% of the company’s stock.

Arcellx Company Profile

(Get Free Report)

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).

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