Arcellx (NASDAQ:ACLX) Releases Earnings Results, Misses Expectations By $0.92 EPS

Arcellx (NASDAQ:ACLX – Get Rating) issued its quarterly earnings results on Thursday. The company reported ($1.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.92), Yahoo Finance reports.

Shares of NASDAQ ACLX opened at $8.91 on Friday. The firm has a 50 day moving average price of $13.03. Arcellx has a 52 week low of $8.07 and a 52 week high of $19.92.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. purchased a new stake in Arcellx in the 1st quarter worth approximately $60,000. Bank of New York Mellon Corp acquired a new position in shares of Arcellx during the 1st quarter worth approximately $332,000. Citigroup Inc. acquired a new position in shares of Arcellx during the 1st quarter worth approximately $26,000. BlackRock Inc. acquired a new position in shares of Arcellx during the 1st quarter worth approximately $7,012,000. Finally, Vanguard Group Inc. acquired a new position in shares of Arcellx during the 1st quarter worth approximately $6,151,000. Hedge funds and other institutional investors own 44.64% of the company’s stock.

ACLX has been the topic of a number of research analyst reports. William Blair restated an “outperform” rating on shares of Arcellx in a research note on Tuesday, March 1st. Barclays began coverage on Arcellx in a research report on Wednesday, March 2nd. They issued an “overweight” rating on the stock. SVB Leerink dropped their target price on Arcellx from $47.00 to $44.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 29th. Finally, Bank of America began coverage on Arcellx in a research report on Tuesday, March 1st. They issued a “buy” rating and a $24.00 target price on the stock.

Arcellx Company Profile (Get Rating)

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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