Arcellx Inc. (NASDAQ: ACLX) stock fell -0.78% on Friday to $33.06 against a previous-day closing price of $33.32. With 0.54 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.53 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $34.25 whereas the lowest price it dropped to was $32.54. The 52-week range on ACLX shows that it touched its highest point at $48.92 and its lowest point at $16.73 during that stretch. It currently has a 1-year price target of $50.70. Beta for the stock currently stands at -0.66.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ACLX was down-trending over the past week, with a drop of -5.84%, but this was down by -7.08% over a month. Three-month performance dropped to -10.75% while six-month performance rose 12.49%. The stock gained 61.27% in the past year, while it has gained 6.71% so far this year. A look at the trailing 12-month EPS for ACLX yields -4.09 with Next year EPS estimates of -2.82. For the next quarter, that number is -0.65. This implies an EPS growth rate of -177.80% for this year and -17.00% for next year.
Float and Shares Shorts:
At present, 48.11 million ACLX shares are outstanding with a float of 40.77 million shares on hand for trading. On Aug 30, 2023, short shares totaled 6.6 million, which was 13.66% higher than short shares on Jul 30, 2023. In addition to Mr. Rami Elghandour as the firm’s Chairman, CEO & Pres, Ms. Michelle Lim Gilson serves as its Chief Financial Officer.
Other institutions hold 46.88% of ACLX, in contrast to 33.14% held by mutual funds. Shares owned by individuals account for 21.54%. As the largest shareholder in ACLX with 9.68% of the stake, Fidelity Management & Research Co holds 4,682,501 shares worth 4,682,501. A second-largest stockholder of ACLX, Perceptive Advisors LLC, holds 4,016,397 shares, controlling over 8.31% of the firm’s shares. Suvretta Capital Management LLC is the third largest shareholder in ACLX, holding 2,848,167 shares or 5.89% stake. With a 2.81% stake in ACLX, the Fidelity Select Port. – Biotechno is the largest stakeholder. A total of 1,359,901 shares are owned by the mutual fund manager. The SPDR S&P Biotech ETF, which owns about 2.57% of ACLX stock, is the second-largest Mutual Fund holder. It holds 1,244,115 shares valued at 44.59 million. Vanguard Total Stock Market ETF holds 2.41% of the stake in ACLX, owning 1,164,439 shares worth 41.73 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, ACLX reported revenue of $0.00 and operating income of -$32.61M. The EBITDA in the recently reported quarter was -$32.61M and diluted EPS was -$0.84.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ACLX since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With ACLX analysts setting a high price target of $58.00 and a low target of $49.00, the average target price over the next 12 months is $52.25. Based on these targets, ACLX could surge 75.44% to reach the target high and rise by 48.22% to reach the target low. Reaching the average price target will result in a growth of 58.05% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded ACLX stock several times over the past three months with 2 Buys and 2 Sells. In these transactions, 6,000 shares were bought while 6,000 shares were sold. The number of buy transactions has increased to 34 while that of sell transactions has risen to 39 over the past year. The total number of shares bought during that period was 274,476 while 10,188,117 shares were sold.