Arcellx Sees Unusually High Options Volume (NASDAQ:ACLX)

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

Arcellx Price Performance

Shares of Arcellx stock opened at $85.43 on Friday. The company has a market cap of $4.57 billion, a PE ratio of -82.94 and a beta of 0.23. The firm has a fifty day moving average price of $65.87 and a two-hundred day moving average price of $60.63. Arcellx has a fifty-two week low of $30.88 and a fifty-two week high of $86.11.

Arcellx (NASDAQ:ACLX) last released its earnings results on Thursday, August 8th. The company reported ($0.51) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.01. The business had revenue of $27.38 million for the quarter, compared to the consensus estimate of $22.04 million. Arcellx had a negative return on equity of 12.42% and a negative net margin of 37.23%. Arcellx’s revenue for the quarter was up 91.5% on a year-over-year basis. Analysts expect that Arcellx will post -1.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Arcellx

In other Arcellx news, insider Christopher Heery sold 20,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $55.39, for a total value of $1,107,800.00. Following the completion of the sale, the insider now directly owns 9,278 shares of the company’s stock, valued at approximately $513,908.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Kavita Patel sold 10,000 shares of Arcellx stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $54.27, for a total transaction of $542,700.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher Heery sold 20,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $55.39, for a total value of $1,107,800.00. Following the completion of the transaction, the insider now owns 9,278 shares in the company, valued at approximately $513,908.42. The disclosure for this sale can be found here. In the last three months, insiders sold 129,505 shares of company stock valued at $8,351,337. 6.24% of the stock is owned by insiders.

Institutional Trading of Arcellx

Institutional investors and hedge funds have recently modified their holdings of the company. Perceptive Advisors LLC boosted its stake in Arcellx by 14.6% during the fourth quarter. Perceptive Advisors LLC now owns 4,544,809 shares of the company’s stock worth $252,237,000 after buying an additional 578,831 shares in the last quarter. Great Point Partners LLC boosted its position in shares of Arcellx by 64.0% during the 2nd quarter. Great Point Partners LLC now owns 492,000 shares of the company’s stock valued at $27,153,000 after acquiring an additional 192,000 shares in the last quarter. Bamco Inc. NY increased its stake in Arcellx by 292.1% in the first quarter. Bamco Inc. NY now owns 248,993 shares of the company’s stock valued at $17,317,000 after acquiring an additional 185,493 shares during the period. Vanguard Group Inc. raised its position in Arcellx by 8.1% in the first quarter. Vanguard Group Inc. now owns 2,228,856 shares of the company’s stock worth $155,017,000 after purchasing an additional 167,037 shares in the last quarter. Finally, Affinity Asset Advisors LLC lifted its stake in Arcellx by 53.3% during the second quarter. Affinity Asset Advisors LLC now owns 460,000 shares of the company’s stock worth $25,387,000 after purchasing an additional 160,000 shares during the period. 96.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Piper Sandler assumed coverage on shares of Arcellx in a report on Friday, May 31st. They set an “overweight” rating and a $70.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcellx in a research report on Monday, September 9th. Canaccord Genuity Group reissued a “buy” rating and set a $85.00 price objective on shares of Arcellx in a report on Monday, July 22nd. Truist Financial restated a “buy” rating and issued a $87.00 target price on shares of Arcellx in a report on Tuesday, June 18th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $81.00 price target on shares of Arcellx in a report on Friday, August 9th. Fourteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Arcellx currently has a consensus rating of “Buy” and an average target price of $78.00.

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).