Arcellx, Inc. (NASDAQ:ACLX – Get Rating)'s stock price reached a new 52-week high during trading on Monday . The company traded as high as $35.16 and last traded at $33.14, with a volume of 37379 shares traded. The stock had previously closed at $33.94.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ACLX shares. Barclays increased their price objective on Arcellx from $25.00 to $38.00 and gave the stock an "overweight" rating in a report on Monday, December 12th. Guggenheim began coverage on Arcellx in a report on Monday, October 31st. They set a "buy" rating and a $36.00 price target on the stock. Needham & Company LLC increased their price target on Arcellx from $31.00 to $35.00 and gave the company a "buy" rating in a report on Monday, December 12th. SVB Leerink lowered their price target on Arcellx to $35.00 in a report on Thursday, November 24th. Finally, Piper Sandler increased their price target on Arcellx from $96.00 to $104.00 in a report on Friday, December 9th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $43.88.

Arcellx Stock Performance

The stock has a market capitalization of $1.46 billion and a P/E ratio of -0.75. The firm has a 50-day moving average of $28.89 and a 200 day moving average of $22.94. The company has a quick ratio of 6.48, a current ratio of 6.48 and a debt-to-equity ratio of 0.11.

Insider Buying and Selling at Arcellx

In other Arcellx news, insider Christopher Heery sold 2,500 shares of Arcellx stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $31.11, for a total transaction of $77,775.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders sold 15,569 shares of company stock valued at $471,004.

Institutional Trading of Arcellx

A number of hedge funds and other institutional investors have recently made changes to their positions in ACLX. Novo Holdings A S acquired a new stake in shares of Arcellx in the first quarter valued at $56,317,000. Cormorant Asset Management LP increased its stake in shares of Arcellx by 99.9% in the third quarter. Cormorant Asset Management LP now owns 3,049,173 shares of the company's stock valued at $57,233,000 after buying an additional 1,524,173 shares in the last quarter. State Street Corp increased its stake in shares of Arcellx by 761.1% in the third quarter. State Street Corp now owns 1,514,025 shares of the company's stock valued at $28,418,000 after buying an additional 1,338,208 shares in the last quarter. Perceptive Advisors LLC increased its stake in shares of Arcellx by 115.9% in the third quarter. Perceptive Advisors LLC now owns 2,465,405 shares of the company's stock valued at $46,276,000 after buying an additional 1,323,415 shares in the last quarter. Finally, BlackRock Inc. increased its stake in shares of Arcellx by 199.8% in the third quarter. BlackRock Inc. now owns 1,806,103 shares of the company's stock valued at $33,902,000 after buying an additional 1,203,592 shares in the last quarter. 91.78% of the stock is currently owned by institutional investors and hedge funds.

Arcellx Company Profile

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Arcellx, Inc, a clinical-stage biotechnology company, engages in the development of various immunotherapies for patients with cancer and other incurable diseases. The company's lead ddCAR product candidate is CART-ddBCMA, which is in phase 1 clinical trial for the treatment of patients with relapsed or refractory (r/r) multiple myeloma (MM).

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